Each of the hole which ranged from 250 to 320 meters in length, began and ended in graphite mineralization over the full extent of the hole except for pegmatite dyke in BMDD0011, which encountered a 30 meter thick pegmatite dyke near surface.
Assay results are expected in about two weeks time after which a maiden JORC resource will be calculated by MSA Group, an independent South African resource consulting group.
Diamond drilling will now commence on an eastern section of the Balama Graphite Project near Mount Coronge that has been observed to have very high grade graphite outcropping at surface.
Syrah said visual observations suggest that the graphite in this region is very coarse flake with zones of possibly greater than 20% graphite content.
Thirteen holes are planned with a depth of between 250 and 320 meters and an RC rig is due to arrive onsite within the next few weeks, for scout drilling to identify other areas for a follow up diamond drilling campaign.
Discussions are well advanced with prospective consultants for the commencement of a scoping study on Balama with a team expected to be finalized in August 2012.
