Ceylon Graphite Announces Discovery of New Graphite Veins...Fresh News Out: Ceylon Graphite Announces Discovery of New Graphite Veins and Provides Operational Update - VANCOUVER, British Columbia, Mar 04, 2021 (GLOBE NEWSWIRE via COMTEX) -- VANCOUVER, British Columbia, March 04, 2021 (GLOBE NEWSWIRE) -- Ceylon Graphite Corp. ("Ceylon Graphite", or "CYL" or the "Company") (TSX-V: CYL) (OTC: CYLYF) (FSE: CCY) is pleased to announce the discovery of new graphite veins on its H1 site and provide an operational update as the Company continues to achieve significant milestones as business activities have returned to planned levels in 2021 post COVID-19 disruptions.
Highlights Include:
- Discovery of new graphite veins from the recently commenced drilling at the Company's H1 site (the Company's third site in addition to the K1 and M1 mines). Both drills have passed 60 meters depth in the first days of drilling. Samples have been sent to the GSMB for testing.
- The Industrial Mining License Category A for the K1 mine has been renewed by the Geological Society and Mines Bureau of the Government of Sri Lanka. Production at the K1 site has restarted.
- The primary mine shaft at K1 has been extended by 60 feet to the level of the main veins to enable easier excavation of the graphite and expedite ramp up of production.
- The company has purchased a new hydraulic underground core drilling rig to accelerate production ramp up.
- Additional updates can be found on the Company website: www.ceylongraphite.com
"We are very excited with this new graphite vein discovery at our H1 site on our first holes, which continues to demonstrate the abundance of vein graphite on our properties and the effectiveness of our exploration methodologies," stated Bharat Parashar, Chairman and CEO. "With our recent exploration success and continued ramping up of operations, Ceylon is rapidly advancing towards its goal of becoming a leading producer of high-grade, environmentally friendly, natural graphite and a vertically integrated advanced material and technology company."
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