Annual Report 2012 - Syrah Resources Ltd

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Syrah Resources Limited Annual Report 2012 > Operations Report Continued Tongani to Tajiri Trend The coastline in this area runs uniformly north northeast and has several major rivers entering the Indian Ocean over the 50 km strike length of the licences. The three licences contain several zones that have been interpreted to be > 3% HM from surface sampling, some exploration pits and some limited hand auger drilling as shown in Figure 2. Of these anomalous zones, only Tajiri has been seriously followed up with further auger drilling. At Tajiri best intersections included: • 14m containing 9.2% heavy minerals • 9m containing 12.3% heavy minerals The average assemblage of the Tajiri heavy minerals contains 7% zircon, 12% rutile and 12% ilmenite. A magnetic and radiometric survey was flown after the end of the financial year. Full results of this survey are pending at the date of this report. Figure 11 - Tongani to Tajiri trend showing key prospects and anomalous areas 10
Figure 12 - Clockwise from left: Tongani high grade zone; close up of Tongani high grade zone; result of initial panning of Tongani sand showing separation of black heavy minerals. Nachingwea Graphite Project At Nachingwea, which is located in southeastern Tanzania, graphite outcrops in a series of hills stretching over at least 5 km and rising 200 metres above the surrounding plain. Early indications suggest that Nachingwea has the potential to be a significant graphite project. These indicators include extensive outcropping graphite exposures over hills extending for 5 km, high graphite grades up to 60% reported by past explorers and historical metallurgical testwork showing that the graphite can be upgraded to a 98% concentrate from a single phase flotation circuit. The Project has excellent infrastructure with a deepwater port located only 180km away and with water, electricity and good roads available. Field activities commenced at the Nachingwea Graphite Project in Tanzania involving mapping and collection of samples for assays. Assay results are due to be reported shortly. Wembere Uranium Wembere is a calcrete hosted uranium target in western Tanzania. The target was identified by an airborne radiometric anomaly with a strike distance of approximately 30 km. The anomaly was subsequently verified on the ground by handheld spectrometer. In addition, extensive calcrete was observed just below surficial cover of up to 1 metre. An initial test pitting program revealed readings by handheld spectrometer of up to 2,300 counts per second. A 4,000 metre drilling program was commenced at Wembere in the third quarter of 2012. Results will be reported in the coming months. Other Projects No work was performed on any of the other projects in the Syrah exploration portfolio in the 30 June 2012 financial year. 11
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Syrah Resources Limited Level 9, 35
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Annual Report 2012 - Syrah Resources Ltd

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