Sarytogan Graphite Limited provided the following update: Second drill rig added to accelerate program after exceptional early results. The second of several batches of assay results is expected within the month and will include results from drilling outside of current Mineral Resource footprint. Sarytogan reported that drilling operations have been accelerated with the arrival of a second diamond drill rig on site at the Sarytogan Graphite Deposit in Central Kazakhstan.

The addition of the second drill rig will ensure that the objectives of the current drill program, as articulated in the ASX Announcement of 25 July 2022, are met within the current calendar year. All results will continue to be released to the ASX in regular batches as they become available, with the first batch of outstanding drilling results from the Central Graphite Zone reported to the ASX on 15 August 2022. The second batch of results is expected within the month and will include drilling conducted outside of the current Mineral Resource footprint, which, if successful, could contribute to a meaningful resource upgrade.

The Sarytogan Graphite Deposit was first explored during the Soviet era in the 1980s with sampling by trenching and diamond drilling. Metallurgical testwork successfully produced graphite concentrate (reported in the 23 February 2022 Prospectus posted on the ASX on 14 July 2022). Further metallurgical testing is underway to validate these historical results.

Diamond drilling and surface sampling resumed after a 30-year hiatus in 2019 that enabled the estimation of an Inferred Mineral Resource of 209Mt @ 28.5% TGC for 60Mt contained graphite by CSA Global (Table 1).