Comet Resources returns “excellent” graphite grades and recoveries in initial tests

Comet Resources Limited (ASX:CRL) has achieved grades and recoveries described as “excellent” in recently completed test-work on material from diamond drilling at Springdale Graphite Project in Western Australia. Final optimised flotation results achieved a total carbon (TC) grade of 96.9% with the company describing the recovery of 92.5% TC as “outstanding”. High-value products These results demonstrate the potential to produce high-value graphite products from the project. The graphite concentrate produced has a unique and potentially very valuable characteristic in its size distribution, with two-thirds of the product passing the 38 microns screen. Deposits containing high-quality ultra-fine graphite are uncommon and are potentially very valuable. “Potential for economic project” Managing director Matthew O’Kane, said: “The results of this test-work, delivering a very high grade, with high recoveries and producing a very unique and potentially high-value product, demonstrate the potential for an economic project at Springdale. “While large flake graphite is paid a premium versus mid-size flake, high-quality superfine products attract prices in excess of large flake, with battery anode spherical uncoated product at 25 microns attracting prices of US$2800/tonne and at 10 microns US$3800/tonne. “Further test work will determine the amenability of the Springdale product for these anode applications.” Further tests The company can now progress to further test-work on end uses for the product once a bulk sample of the concentrate is produced. Comet has initiated further optimisation testing on flotation under the management of Independent Metallurgical Operations (IMO) with the aim of reducing capital and operating cost requirements while increasing concentrate grade. This will assess a reduction in the number of flotation and concentrate grinding stages, and further optimisation in the reagent additions. Multiple tests have been conducted for the optimisation testing which has indicated: Reagent consumptions can be reduced by 47% with no detrimental effect to overall product grade and recovery; and Flotation stages can be reduced by 36%, further reducing capital and operating cost requirements. Test-work in Europe Further test work on a 5-10 kilogram sample of float concentrate in Europe is designed to convert the concentrate obtained by flotation into value-added saleable products. The company is investigating three different processes designed to confirm the suitability of Springdale project graphite as a precursor material for high value-added products, these are: Purification to carbon content above 99.9%, for use in high-tech applications such as batteries; Micronising, for products that require well-defined small flake graphite particles for their end uses eg in lubricants, powder metallurgy applications or in carbon brushes; and Spheronisation, for use in lithium-ion-battery anodes for the rapidly expanding market for electrical vehicles due to the global drive to de-carbonise the transport network. The next step is to first produce the required bulk sample of float concentrate for shipment to the facilities in Europe. This work is expected to be completed during the quarter, with testing of the concentrate planned to commence afterwards. Trading halt The company is now in a trading halt with an announcement pending in relation to acquisition of the Santa Teresa Gold Project. In its application for the halt, Comet said it would “allow the finalisation of the project share purchase and joint venture agreement to take place in an orderly manner”. The halt will remain in place until the earlier of the start of normal trading on Wednesday, August 26, or when an announcement is released to the market.