Ceylon Graphite (CYL.V) is gearing up to start its exploration program on each one of the 116 grids that it has been awarded by the government. To speed up the exploration process, Ceylon has purchased a VF-EM 16 receiver which should help the company to map the grids as fast as possible.
Ceylon already has a drill rig on site which will drill-test the hot spots to build a geological database which will be a starting point to complete a compliant resource estimate on the property. Two high priority grids are currently being prepared for exploration and a bulk sampling program on these grids could allow Ceylon to start building a stockpile of graphite.
In other news, Ceylon Graphite has hosted the mayor of Toronto and other Canadian government representative on a site visit to the property with a symbolic ribbon-cutting ceremony.
Sri Lanka used to be the world’s hot spot for high-purity graphite, but virtually no modern exploration has taken place in the past several decades. Ceylon Graphite plans to re-enter a district known for its historic graphite production, and bring it back into production. We have already published a Q&A report with Ceylon’s representatives HERE, and will build a theoretical economical model in the next few weeks, based on the company’s official documentation.