Australian mineral explorer iTech Minerals (ASX:ITM) has recorded up to 15% total graphitic carbon (TGC) in the first 6 holes completed at the Sugarloaf prospect, located within the Campoona Graphite Project in South Australia.
The company reports the results from the first 6 holes of 17 planned drillholes at Sugarloaf demonstrate a continuation of thick, ‘high-grade’ mineralisation well into the southern half of the exploration target. Assays for the remaining 11 drillholes are expected in the coming weeks.
Best results recorded in this drilling includes hole SLRC23-006 with 28m @ 15% TGC from 75m and 18m @ 11.2% TGC from 114m; SLRC23-004 with 17m @ 6.4% TGC from 80m; and SLRC23-002 with 6m @ 5.3% TGC from 39m, 6m @ 7.8% TGC from 48m, and 2m @ 12.6% TGC.
Commenting on the results, iTech Minerals Managing Director, Mike Schwarz says: “The results from the first 6 to 17 drillholes at Sugarloaf are a great start for iTech Minerals’ 2023 graphite drilling campaign.
“The results from the first 6 to 17 drillholes at Sugarloaf are a great start for iTech Minerals’ 2023 graphite drilling campaign”
With a combined interval of over 46m at greater than 10% graphite, the company has shown that thick, high-grade graphite mineralisation extends well into the southern half of the 4.3km long exploration target of 158 to 264 million tonnes @ 7% to 12% TGC. Further estimates, from holes yet to be reported, show that the mineralisation extends to within metres of the surface.”
iTech reports the 17-hole reverse circulation (RC) drill program is designed to test the southern extent of a 4.5km electromagnetic anomaly at Sugarloaf. The company says the northern 2km area has been drill tested by Archer Materials (ASX:AXE) between 2008 and 2012. The current round of drilling by iTech has confirmed the full 4.5km extent of the electromagnetic (EM) anomaly is caused by graphite mineralisation.
The results from the first 6 holes at Sugarloaf demonstrate a continuation of the thick, ‘high-grade’ mineralisation well into the southern half of the exploration target. iTech notes that it took several holes at the start of the program to locate the best graphite horizon as the graphite mineralisation was being targeted a ‘significant’ distance from the last known location in drilling.
From observations, the company says subsequent drillholes were much more effective in intersecting the target horizon at shallower depths which doubled the strike length of Sugarloaf.
iTech Minerals is an Australian mineral exploration company searching and developing battery materials and critical minerals within its wholly owned projects. The company currently holds the Campoona Graphite Project in South Australia, prospective for graphite, kaolinite-halloysite, regolith hosted clay rare earth element (REE) mineralisation.
iTech also has an ‘extensive’ exploration tenure prospective for copper-gold porphyry mineralisation, iron-oxide-copper-gold (IOCG) mineralisation, and gold mineralisation in South Australia, as well as tin, tungsten, and polymetallic-style mineralisation in New South Wales.
Images: iTech Minerals Ltd
