iTech (ASX:ITM) grow southbound graphite at LacromaNovember 3, 2023
After assays earlier this month extended mineralisation northward of first drilling’s impressive intervals, iTech Minerals‘ infill campaign has returned thick intersections showing increasing graphite mineralisation to the south of the Central Lacroma Graphite Project in South Australia.
Intervals have been getting thicker and higher grade in the southern direction, where there remains over a kilometre of strike to be drilled in the current program.
“The latest drilling results from the Lacroma Graphite Prospect have demonstrated that graphite mineralisation increases in thickness and grade to the south of the prospect and comes to surface in the west. The drilling program continues to deliver significant results with over 70 holes of the resource drilling program completed to date,” iTech Managing Director Mike Schwarz said.
Lacroma is one of four graphite prospects and deposits iTech has assembled around a proposed graphite processing plant for the greater Campoona Spherical Graphite Project.
Chinese export restrictions have put a spotlight on an Australian graphite sector already returning impressive results, and Campoona presents a de-risked opportunity of graphite supply with an established JORC Resource of 8.55 million tonnes at an average grade of 9.0% Total Graphitic Carbon across three project areas.
And iTech see more than mining on the deck in the Eyre Peninsula, currently researching with ANZAPLAN in Germany to develop a new and environmentally sound refining process for battery markets.
Lacroma is less advanced than some of its other areas, but drilling is expected to continue over the next few months to test the full potential of the resource area.
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