Lamboo Resources Ltd. (ASX:LMB) announced that its South Korea-based Geumam graphite project has been issued a drilling permit by the Dangjin City County Government. The company already has the required access agreements with local surface rights holders.
As quoted in the press release:
Lamboo has signed a drilling contract with a local drilling company to supply 3 drill rigs to drill 21 holes, for a total of 2,250 metres of HQ triple tube diamond drill core. The objective of the drilling programme is to substantially increase the current resource base at Geumam.
Richard Trevillion, CEO of Lamboo, and Wan-Joong Kim, Lamboo’s Korean country manager, commented:
With all the required approvals now in place, drilling rigs have already started at our Geumam flake graphite project. This is an important step in looking to grow our resource base and to progress Lamboo from exploration to becoming a flake graphite producer.