Total Graphite (LSE:TGR.L), the flake graphite explorer supplying the critical mineral for the global energy transition, reported encouraging infill drilling results from the Old Mine area of its Vatomina Project in Madagascar.
Diamond hole VAT-DD26-026 returned 19 metres at 3.3% total graphitic carbon (TGC) from 36 metres downhole, including a higher-grade core of 5 metres at 6.82% TGC from 44 metres.
The result confirms continuity of a thick, near-surface graphite seam and, read against historical drilling and mining data dating back to 2018, sharpens the company's understanding of the orebody ahead of a planned mine restart.
Separate auger drilling and trenching have also exposed a new zone east of the historical workings, dubbed the Old Mine Extension, where a completed cross-section indicates a significant graphitic resource may be present.
"These first infill results from the Old Mine area are exactly what we had hoped to see," said chairman Christian Dennis, adding that the intercept "gives us real confidence in the continuity and quality of the seam".
Drilling continues, with results to feed an updated geological and resource model.
Block modelling and pit-shell optimisation will follow, covering both the Old Mine section and the previously announced Tanandava orebody, to determine the extent and economics of mining ahead of a restart mine plan at Vatomina.
News Intelligence what this means for the company
Total Graphite's infill drilling at the Old Mine area of Vatomina has confirmed continuity of a thick, near-surface graphite seam grading 3.3% TGC over 19 metres (with a 6.82% core), and identified a new extension zone with potential for a significant graphitic resource. This advances the company's technical case ahead of a planned mine restart, feeding into an updated resource model and pit-shell optimisation that will determine mining economics—a key step toward the restart targeted above 1,000 tpm from December 2026.
The result validates the orebody continuity and grade quality that underpin the restart plan, reducing geological risk on the Old Mine section. However, the company remains pre-revenue and exploration-stage; the intercept is one hole in an ongoing programme, and economics will depend on the full resource update and pit optimisation now underway.
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