The Rakwana site boasts high-grade metamorphic rock, making it a unique site for graphite mining.
The Rakwana Project is located about 120km southeast of Colombo and about 70km northeast of Galle, in south-western Sri Lanka. Margosa has identified four graphite occurrences on EL/253 and old workings near EL/254.
Margosa will continue ground reconnaissance during 2017 and proposes to fly the licence with airborne EM in early 2018. The project has been ranked as a Tier 3 project by the Company.
The project is underlain by folded high grade metamorphic rocks which define a northwest trending regional scale antiform, flanked by a regional shear zone to the north and is crosscut by northeast trending lineaments.