Total Graphite (LSE:TGR) reported a peak assay of 18.62% Total Graphitic Carbon (TGC) from initial drilling at the Tarandava Block, part of its Vatomina Mining Licence in Madagascar.
The specialist graphite company, which is building an integrated mine-to-materials supply chain for the energy transition, drilled 587 metres across 17 boreholes as part of a Madagascar Optimisation Programme launched in July.
Hole VAT-DD26-015 returned 6.5 metres at 9.44% TGC from 15.5 metres down hole, including 5.0 metres at 11.30% TGC and the peak one-metre assay of 18.62% TGC. Hole VAT-DD26-009 returned 5.0 metres at 6.83% TGC from just 6.0 metres down hole, including 4.0 metres at 7.89% TGC.
Drilling tested an expanding area of approximately 1.16 square kilometres, with graphite mineralisation intersected across the programme.
The next phase will target the Old Mine, Old Mine Extension and BK6 areas, aiming to increase confidence in known mineralisation and support the near-term Vatomina mine plan. A second diamond drill rig is expected to be recommissioned during August, adding capacity alongside the rig already in use.
"These initial drilling results represent an encouraging start to the Vatomina Optimisation Programme", said Christian Dennis, Executive Chairman, adding that the priority is building a stronger geological model to underpin mine planning.
The current programme is expected to run through the fourth quarter, with further drilling planned as part of Total Graphite's longer-term development of the Vatomina resource base.
News Intelligence what this means for the company
Total Graphite reported peak-grade graphite assays of 18.62% TGC from initial drilling at the Tarandava Block within its Vatomina Mining Licence in Madagascar, with 587 metres drilled across 17 boreholes as part of an optimisation programme launched in July. The company is using these results to refine its geological model and support mine restart planning, with a second drill rig expected to come online in August to accelerate the programme through Q4.
The assay results support Total Graphite's case that Vatomina contains mineable high-grade zones, but the company remains in a drilling and optimisation phase with production suspended. The near-term investment case hinges on whether these intersections translate into a robust mine plan and whether the company can restart production above 1,000 tpm as targeted from December 2026, subject to drilling progress.
Insights assembled by AI. Editor-reviewed and grounded in tickstock’s coverage and proprietary knowledge graph.
Content is for informational purposes only, not financial advice.
