Greenwing Resources Ltd. provided an update on exploration activities at its wholly owned Graphmada Graphite Mining Complex, located in Madagascar. HIGHLIGHTS: 43 diamond drill holes for a total of 1,715 metres completed to date, representing a significant portion of the current diamond drilling program. Drilling has recorded significant intercepts of graphite mineralisation, up to 37.9m @ 6.6% - Fixed Carbon (FC) including 4.9m @ 19.4% FC. The Company continues to drill and in particular expand the footprint of Ambatofafana. Current diamond drilling program designed to provide a Mineral Resource upgrade for Graphmada, supporting studies to undertake large scale mining and processing operations. Graphmada has previously produced concentrates to specifications and sold into all major global markets without penalty. NEXT STEPS: Continue to drill and expand the footprint and depth of Ambatofafana. Continue analysis of drill samples to update the Mineral Resource Estimate for the Graphmada Mining Complex. Advance feasibility studies on large scale mining and processing. KEY INTERCEPTS: 5.2m @ 5.2% FC - 8.6m @ 4.9% FC - 10.5m @ 4.9% FC - 7.3m @ 5.5% FC - 8.9m @ 5.1% FC - 32.2m @ 4.6% FC - (incl. 18.9m @ 5.5% FC) - 8.5m @ 5.3% FC - 34.3m @ 4.5% FC - (incl. 14m @ 5.8% FC) - 17.2m @ 4.8% FC - 6.4m @ 5.0% FC - 5.0m @ 5.6% FC - 29.2m @ 4.9% FC - 24.4m @ 5.1% FC - 23.3m @ 4.7% FC - 33.6m @ 4.3% FC - (incl. 8.2m @ 6.3% FC) - 40.0m @ 4.2% FC - (incl. 17.4m @ 5.9% FC) 37.9m @ 6.6% FC - (incl. 4.9m @ 19.4% FC) - 4.2m @ 7.0% FC - 4.5m @ 10.5% FC - 32m @ 5.5% FC - (incl. 8.7m @ 6.5% FC) - 40.9m @ 5.3% FC - 9.6m @ 5.9% FC - 6.0m @ 5.9% FC - 23.7m @ 5.4% FC - 13.2m @ 4.8% FC - 5.5m @ 4.9% FC - 47.9m @ 5.9% FC - (incl. 6.8m @ 7.2% FC) - 5.0m @ 6.6% FC. CURRENT MINERAL RESOURCES & EXPLORATION TARGET: Greenwing sees the expansion of the Mineral Resource at Graphmada, a project which has already produced concentrates to specification and has sold into all major global markets, as key to its plans for large-scale production at the Graphmada Mining Complex. Graphmada's current large flake graphite Mineral Resource of 22.0 Mt @ at 4.0% Total Graphitic Carbon (TGC) was estimated in accordance with the JORC Code (2012). Based on an extensive set of exploration data, Graphmada has a brownfields Exploration Target estimate 1 of 86-146 Million tonnes between 4-6% TGC, in accordance with the JORC Code (2012).
EXPLORATION RESULTS: The Company has drilled 43 diamond drill holes for a total of 1,715 metres across the Mahela
& Ambatofafana Zones. The key intercepts in Table 2 demonstrate the mineralization
footprint at Graphmada is extensive, both laterally and in width, and now in depth, with
several holes ending in mineralisation.
At the Mahela Zone, the primary aim is to provide an upgrade of Inferred Mineral Resources,
to Indicated and Measured Minerals Resources. Consequently, 37 diamond drill holes were
completed for 1,379 metres. The recently completed drill holes provide additional
information to previous exploration, as shown in Figure 2 and cross section in Figure 3.
These high-grade thick intersections are ensuring Ambatofafana is quickly becoming a
formative zone within the Graphmada Mineral Resource. The initial diamond drill section
(Figure 5) for Ambatofafana demonstrates significant graphite mineralisation is open at
depth and in width. Consequently, additional drill metres may be included in the exploration
program, should positive results continue.