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SRG Graphite reports maiden estimate for Lola graphite deposit

SRG Graphite Inc. estimated a maiden resource for its wholly owned Lola graphite deposit in Guinea, according to a Dec. 22 news release.

The deposit contains a pit-constrained indicated resource of 4.0 million tonnes at 5.7% graphitic carbon and an inferred resource of 4.6 million tonnes at 6.5% graphitic carbon, at a 3.0% graphitic carbon cut-off. The resource is based off 4,936 meters drilled in 170 holes before Sept. 30.

SRG's 49% shareholder, Sama Resources Inc., said an additional 6,000 meters of drilling is planned at the property in 2018.

Following the resource estimate, Sama also decided to review the scope of the ongoing preliminary economic assessment on the project.