iTech (ASX:ITM) double the sweetness of Sugarloaf
iTech Minerals have doubled the strike length of Sugarloaf from now-completed drilling now over the prospect at its Campoona Graphite Project in South Australia’s Eyre Peninsula.
$0.037It brings the strike to more than 4 kilometres, confirming the southern extent of a 158-264 Mt @ 7-12 % TGC exploration target.
In addition, 2.3 kilometres of mineralisation at the southern end has shown 60 meters of what appears to be a thick graphite intersection.
“The drilling program has succeeded in testing the extent of graphite mineralisation and obtaining further samples for metallurgical research,” iTech Managing Director Mike Schwarz said.
“The combined program will be one of the largest single programs undertaken to explore for graphite on the Eyre Peninsula in recent years.”
Graphite exploration in Australia has been rising in tune with the demand for battery anode material. While China stands far ahead of the production pack, there have been several recent exploration successes, with companies including Buxton Resources and Kingsland Minerals marking fresh discoveries and hefty exploration targets in the lucky country.
Final assays are expected from the 17-hole campaign over Sugarloaf in the coming weeks. High-quality samples of mineralisation are obtained for metallurgical research as the rig moves 20km northward for over 10,000m of drilling at the Lacroma Graphite Prospect.
ITECHMIN FPO [ITM]