Ridee Ganga is Margosa Graphite’s flagship project, located approximately 40Km south-southeast of Colombo. The Company has a 100% controlled Industrial Mining License (IML) over this Project area and has actively started to develop its mining footprint.
Margosa Graphite Ltd commissioned Measured Group Pty Ltd to prepare a Mineral Resources estimate for their Ridee Ganga Project located in Sri Lanka. The Mineral Resources are estimated as of February 2025.
The Mineral Resource estimate for the Ridee Ganga Project, as at February 2025 is 2,548,500 tonnes, containing 78.19% TGC; consisting of an Indicated Mineral Resource of 1,258,500 tonnes at 77.06% TGC and an Inferred Mineral Resource of 1,290,000 tonnes, containing 79.30% TGC for a Total Contained Graphite of 1,992,800 tonnes. The resource has been estimated under the principles of the JORC code (2012 edition).
Details regarding the estimation of the Mineral Resources for the Ridee Ganga Project:
The breakdown of the Mineral Resources is detailed in Table 1.
Table 1 – Ridee Ganga Project Graphite Mineral Resource Estimate – February 2025
| Indicated | Inferred | Total | |
| Tonnes | 1,258,500 | 1,290,000 | 2,548,500 |
| TCG (%) | 77.06 | 79.30 | 78.19 |
| Total Contained Graphite (t) | 969,800 | 1,023,000 | 1,992,800 |
NOTES:
- Total estimates are rounded to reflect confidence and resource categorisation
- Apparent differences in totals may occur due to rounding
- The Mineral Resource Estimate has no cut-off
- The Mineral Resource classification has considered the Reasonable Prospects for the Eventual Economic Extraction
- The Resource Estimate is reported as at the Surface Topography supplied at the end of January 2025
- Classification of Mineral Resources incorporates the terms and definitions from the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code, 2012) published by the Joint Ore Reserve Committee (JORC)
The Ridee Ganga Project deposit is located in the company’s Pathakada EL219 licensed area in the Western Province, Sri Lanka and is easily accessible from Sri Lanka’s capital, Colombo, which is located approximately 40 km north-northwest of the Project. Margosa has been actively exploring the Ridee Ganga region since 2012 with several drilling and geophysical campaigns. The Company has a 100% controlled Industrial Mining License over this Project area and has actively started to develop its mining footprint.