Seven drill holes for a total of 931.8m have been drilled to date out of the planned 20 hole, 2,800m drill programme. The programme has been focused on Zone 4, where 2021 surface trenching and sampling programmes identified significant grades and widths of graphite mineralisation.

Most of the holes intercepted varying amounts of graphite mineralisation from paragneiss and recrystallized limestone units.

Assay results from the drill programme will be released once they have been received from the laboratory. A total of 569 samples were bagged and tagged using best practices and were delivered to Activation Laboratories (ACTLABS), Ancaster, Ontario, for sample preparation and analyses using laboratories' Code 4F-C Graphitic, analysing C-Graphite (infrared) where the sample is subjected to a multistage furnace treatment to remove all forms of carbon with the exception of graphitic carbon; and C-Total (infrared).

Luisa Moreno, CEO Graphano Energy, said: "Notwithstanding some slowdowns due to COVID-19 and weather-related issues that have affected the drilling programme, we are pleased to see positive early-stage drilling results. We will be drilling another 13 holes and focusing on areas that show high-grade mineralisation. The idea is to define a resource and we believe that the close proximity to an existing processing plant gives us a strong logistic advantage. Graphite demand continues to be high in view of the current EV revolution taking place and we aim to contribute to the supply chain."

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