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Bisan Ltd announces drilling to commence at Pencil Hill Graphite Project In Botswana

Monday, 28 Jul 2014 08:00pm EDT

Bisan Ltd:Says that a diamond drill rig has been mobilised and is expected to commence drilling at the “Pencil Hill” prospecting licence (PL) in Botswana.Says the program will entail drilling two diamond holes to a depth of 200m each to test for graphite.Says the program is expected to take at least two weeks and a further three weeks to prepare and send the samples to an independent laboratory for analysis.Says subject to the results of these two drill holes, Bisan can purchase a 30 pct. interest in the Pencil Hill PL which covers an area of 975 sq km in Botswana.Says if bisan proceeds with the purchase, then Bisan will also have a first right of refusal to increase its pre-IPO holding in Pencil Hill to 51 pct.

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