Conducted by the Sri Lankan Geological Survey & Mines Bureau (GSMB) Technical Services Unit, the initial independent assessment resulted in positive potential for ultrahigh grade graphite mineralization (+90%-99% TGC) at the Neluwa and Baduraliya projects in Sri Lanka.
Through Sri Lankan subsidiary Plumbago Lanka, Bora Bora Resources holds a 75% interest in both projects comprising a total of 94km2 of exploration licences (EL/246) located in southern Sri Lanka.
The GSMB Technical Services also identified a"…number of abandoned graphite mines and pits in the areas around Baduraliya and Neluwa…", according to a report received by BBR.
Bora Bora Resources executive director Chris Cowan said, "Given the recent receipt of preliminary VTEM survey data for the Matale Graphite Project which provided excellent exploration potential for vein graphite mineralization at grades exceeding 96% TGC, we are pleased to have identified and secured additional highly promising graphite bearing tenements at the Neluwa and Baduraliya Graphite Projects in southern Sri Lanka."
To better define key areas with the most likely graphite bearing potential, the company will work towards developing a follow up exploration program.
