ASX-listed Lithium Energy (ASX:LEL) has delivered a maiden JORC Mineral Resource Estimate (MRE) at its Corella Graphite Project in Queensland and outlined an ‘impressive’ increase to its graphite inventory.
The maiden inferred mineral resource consists of 13.5 million tonnes (Mt) @ 9.5% Total Graphitic Carbon (TGC) for 1.3Mt contained graphite at a 5% TGC cut-off grade.
Lithium Energy reports there is a ‘higher-grade’ inferred mineral resource of 4.5Mt @ 12.7% TGC for 0.57Mt of contained graphite at a 10% TGC cut-off grade within the mineralised envelope.
This has resulted in the company’s total graphite inventory in Queensland doubling to 2.6Mt of contained graphite with the addition of the Corella deposit to the Burke deposit.
Commenting on the maiden Corella MRE, Lithium Energy Executive Chairman William Johnson says: “The major increase in our graphite inventory contributed from the Corella Project adds significant value to the overall Burke Graphite Project.
“The major increase in our graphite inventory contributed from the Corella Project adds significant value to the overall Burke Graphite Project”
In particular, the additional resource provides the company with the potential for expanded development options for our proposed vertically integrated battery anode material manufacturing facility based in Queensland. These potential options will be considered as part of the engineering studies currently being undertaken at Burke.”
Lithium Energy notes that a program of metallurgical testwork will now be conducted to assess the Corella project as potential additional feedstock for an expanded purified spherical graphite (PSG) production facility based in Queensland.
Lithium Energy is a battery minerals company developing its wholly owned graphite projects in North Central Queensland. These 2 projects include the Burke and Corella projects.
The Corella Graphite Project comprises Exploration Permit for Minerals (EPM) 25696, located 40km west of Cloncurry near the Flinders Highway that links Mt Isa to Townsville.
Write to Aaliyah Rogan at Mining.com.au
Images: Lithium Energy Ltd
