Ceylon Graphite Corp. (TSX-V: CYL) (OTC: CYLYF) (FSE: CCY) is pleased to announce the assay test results of samples from the large untapped natural graphite vein discovered in late August 2018 at its K1 site in the Karasnagala area in Sri Lanka.
Coordinates of the drill location are E-133102, N-211423. The sample was tested at the laboratory of the Sri Lanka Government’s Geological Survey and Mines Bureau.
|RESULTS OF CHEMICAL ANALYSIS
|Constituents determined||Contents %|
|Silica as SiO2||1.83|
|Iron as Fe2O3||0.28|
Note: The analysis was performed on a powdered sample dried at 105 C
“These outstanding test results at 97.61% pure carbon futher confirm that our K1 site has virtually the purest naturally occurring graphite on the planet.” said Bharat Parashar, Chief Executive Officer. “In finding such commercially viable, high-quality natural graphite we are now shifting time and resources to preparations for commercial production.”
Ceylon Graphite has six large sized high-quality veins at its K1 site, test results from each showing Carbon content of over 90%.
The Company anticipates there is even more substantial high-quality graphite at lower depths at this site and continues to actively pursue its aggressive exploration of the site as it positions itself for production.
The Company expects to receive its mining license for K1 shortly.
Robert Marvin, P. Geo (ONT) is a Qualified Person under National Instrument 43-101 and has reviewed and approved the geological information provided in this news release.
About Ceylon Graphite Corp.
Ceylon Graphite Corp is a public company listed on the TSX Venture Exchange that is in the business of exploration and development of graphite mines in Sri Lanka. The Government of Sri Lanka has granted the company exploration rights in a land package of over 120km². These exploration grids (each one square kilometer in area) cover areas of historic graphite production from the early twentieth century and represent a majority of the known graphite occurrences in Sri Lanka. Graphite mined in Sri Lanka is known to be some of the purest in the world, and currently accounts for less than 1% of the world graphite production.
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