iTech Minerals (ASX:ITM) has returned ‘significant’ graphite results from an ongoing 10,000m reverse circulation (RC) drilling program at the Lacroma Graphite prospect within its Eyre Peninsula Project in South Australia.
The results, generated from the first 4 RC holes, are reported to have defined an ‘extensive’ graphite horizon, with mineralisation extending 200m across strike from surface to more than 150m deep and striking on a north-northwest and south-southeast orientation before dipping 45 degrees to the east.
All of these characteristics are interpreted to favour a low-cost mining operation at Central Lacroma.
The company says drilling has also confirmed that the underlying 6km airborne electromagnetic (EM) anomaly in the area is caused by a ‘significant’ graphite mineralised system.
Additionally, a second drill traverse undertaken 1km to the south has also confirmed the continuation of the same graphite horizon along strike, with assays pending.
Key new results include hole LARC23-003 with 2m @ 8.3% total graphitic carbon (TGC) from 85m, 16m @ 6.3% TGC from 102m, and 30m @ 6.8% TGC from 121m; hole LARC23-001 with 69m @ 7.6% TGC from 38m; hole LARC23-004 with 76m @ 7.1% TGC from 19m; and hole LARC23-005 with 91m @ 6% TGC from 4m.
Drilling is currently ongoing along traverse 2 and is focused on extending graphite mineralisation to the east before moving over 2km to the north in order to begin a third east-west section. Drilling is then expected to focus on testing the southern extent of the prospect before starting infill drilling.
Addressing the results, iTech Minerals Managing Director Mike Schwarz says: “iTech is very pleased with the impressive assay results from the first drill holes at the Lacroma Graphite Prospect. The scale of the graphite mineralisation at Central Lacroma is becoming apparent, with a significant thickness of graphite mineralisation intersected in drilling from surface and in two traverses over 1 km apart.
“The scale of the graphite mineralisation at Central Lacroma is becoming apparent…”
With a further 4 to 5 km of strike still to be tested in the current drill program, iTech hopes to establish a significant new graphite asset for the company.”
The company notes preliminary metallurgy conducted on graphite gathered from historical drilling demonstrates that a ‘high-grade’ graphite concentrate of greater than 90% TGC, with recoveries of 83%, can be achieved with simple flotation.
With drilling still ongoing, iTech Minerals announces the next batch of assays is expected to be received within the next 2 weeks and will include many of the remaining holes in traverse 1. Meanwhile results from traverse 2 are expected to be received in the next 4 weeks.
iTech Minerals is an ASX-listed mineral exploration company exploring for and developing battery materials and critical minerals within its wholly owned Australian projects. The company is actively exploring for graphite, kaolinite-halloysite, and regolith-hosted clay rare earth element mineralisation.
iTech’s Lacroma Graphite prospect is located about 20km southwest of the township of Kimba on the central Eyre Peninsula and 20km from its proposed graphite processing plant for the Campoona Spherical Graphite Project.
Write to Adam Drought at Mining.com.au
Images: Itech Minerals Ltd
