Still in Perth where the 2012 Uranium conference wrapped up this afternoon. Ahead of my evening meetings thought it’d be timely to do a quick review of this week’s graphite market movements, with various graphite stories coming from Australia. Between close of market on Friday, July 13, 2012 and close of market on Thursday, July 19, 2012, the average change in share price for GraphiteBlog sponsors was down 10.11%. Despite the weak markets we continue to experience, the sector is making positive headway in advancing projects and research into the new applications of graphite.
This morning (July 18, 2012), Gold Anomaly Limited (ASX: GOA) announced that drill results from their Jolly Tar prospect revealed substantial graphite potential in the area. Graphite over 50% found in hole 53 of 59 holes drilled and over a strike length of greater than 800 meters. The Jolly Tar project consists of two exploration permits at Croydon in North Queensland, Australia (read more).
On July 17, 2012, Australia’s Archer Explorations Limited (ASX: AXE) announced that the reverse circulation component of resource drilling at its Campoona Graphite Deposit is now complete. Results from this latest round of drilling are consistent with drilling from earlier this year, reinforcing Archer’s confidence in the deposit. The highest grade intersection recorded to date is 27 meters at 18.5% graphite (read more).
Monax Mining Limited (ASX: MOX) reported on July 16, 2012, that its 100%-owned Waddikee Project on South Australia’s Eyre Peninsula has the potential to be a new graphite province and that maiden drilling has commenced to test 7 priority areas (read more). Lincoln Minerals Ltd. (ASX: LML) also announced that electromagnetic (EM) surveys have commenced over their Koppio-Kookaburra Gully and Cockabidnie-Campoona graphite projects on Eyre Peninsula in South Australia. Graphite has been widely identifiable from EM surveys in the past due to its high electrical conductivity. Graphitic rock units are very good conductors and therefore are easily detected by EM (read more).
Zenyatta Ventures Ltd. (TSXV: ZEN) provided an update on the Albany Graphite Deposit. Their official news release titled Zenyatta Ventures; Update on SGS Canada Inc. (Lakefield) Testing & Lakehead University Research (July 16, 2012), notes that to date, Zenyatta has submitted 2 drill samples for analysis. A 100 kilogram sample was selected from hole #5 that contained high grade graphitic material and a second 100 kilogram sample was selected from hole #1, containing a lower grade of graphitic material.
This week Galaxy Graphite Corp. (TSXV: GXY) announced that fieldwork on their Brownell Lake gold property has begun (read more).
Our weekly share price chart is below:
*Historical share prices taken from BigCharts.com on 2012-07-19.
Disclaimer: Zenyatta Ventures Ltd. and Galaxy Graphite Corp. are GraphiteBlog sponsors. All companies in the above chart are GraphiteBlog sponsors.