VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 25, 2017) - Ceylon Graphite Corp. ("Ceylon") (TSX VENTURE:CYL)(OTC:CYLYF)(FRANKFURT:CCY) announces that Sarcon Development (PVT) Ltd ("Sarcon") its wholly owned subsidiary has purchased a HXY-2T type Core Drilling Rig from the H.H. Drill-Tech Drilling Machinery Co Ltd based in Lianyungang, Jiangsu Province, China. It is anticipated the drill will arrive in Sri Lanka by the middle of May. For it's immediate requirements, Sarcon has hired a local drilling operator, currently on site to start the drilling process at its K1 site which is a past producing graphite mine. Drilling at K1 will initially be in the area identified during VLF ground mapping around the old mine site and then other parts of the grid.
The company will drill all the 116 grids over the next 24 months, this will provide the precise location(s) of the graphite vein(s) in each grid. The company's goal is to build a geological database for its mining operations.
Bharat Parashar, Chief Executive Officer, said: "Owning its own drill rig will give Sarcon both a cost advantage plus positioning flexibility in the exploration process as we move towards our goal of commencing production."
About Ceylon Graphite Corp.
Ceylon Graphite Corp is a public company listed on the TSX Venture Exchange (TSX VENTURE:CYL), that is in the business of exploring for and development of graphite mines in Sri Lanka. The Government of Sri Lanka has granted the company exploration rights in a land package of over 100km². These exploration grids cover all relevant areas that had historical graphite production during the early twentieth century representing the majority of the known graphite occurrence in Sri Lanka. Ceylon's graphite is the purest in the world, and currently accounts for less than 1% of the world graphite production.
Further information regarding the Company is available at www.ceylongraphite.com.
