Lamboo Resources encouraged by graphite drilling results
THE DRILL SERGEANT: Graphite exploration play Lamboo Resources (ASX:LMB) is anticipating completion of exploration drilling of flake graphite Targets 2 and 3 at the company’s McIntosh graphite project in the East Kimberley of Western Australia ahead of schedule by the end of September.
Lamboo said it expects drilling of Target 1 to be completed by the end of October, which will include diamond drilling.
The company said targeted drilling had been made possible due to an extensive geophysical IP program coupled with detailed geological mapping that it claims has confirmed the presence of the graphite schist horizons.
Lamboo secured appropriate rigs for its exploration program in June, since when it has rapidly completed ground and geophysical work enabling a more targeted and efficient drill program.
Lamboo Resources Flake graphite McIntosh tenements and targets. Source: Company announcement
Lamboo has now completed 15 drill holes on traverses 100 metres apart and successfully intersected flake graphite in all drill holes.
The graphite schist horizon at Target 2 has been confirmed over a strike length of 900 m with the overall strike length of this target zone expected to be in excess of 1.5 kilometres.
This forms part of the aggregate strike exceeding 10km.
“Drilling results have confirmed the presence of wide intervals of graphite schist and graphitic gneiss,” Lamboo Resources said in its ASX announcement.
“A down hole intercept of 28 metres of graphitic marble and schist was achieved from surface in drill hole T2GRC040.
“Ongoing drilling has confirmed the presence of high-grade flake graphite that appears like graphitic ‘paint’ in some holes.”
Lamboo said it expected beneficiation of the graphite should not represent a major hurdle as it has demonstrated easy separation in drill hole water forming a characteristic sheen where the individual flakes can be discerned.
Petrographic analysis the company has conducted of surface samples has also highlighted graphite flakes at a microscopic level.
“These observations bode well for a relatively simple beneficiation – flotation process,” Lamboo said.
“This will have obvious implications for future flake graphite production in terms of substantially lower costs.
“Follow up drill results from the program at McIntosh Graphite are consistent with the above intercepts confirming the consistency of high quality flake graphite within the tenements.
“RC drilling will prove to be the most cost effective way of providing an assessment of the targets and achieving an initial resource for the project.”
Lamboo Resources holds the McIntosh flake graphite tenements, which now cover an area of 330 square kilometres and contain extensive flake graphite schist horizons.
The tenements extend to the Great Northern Highway affording direct access to infrastructure and the port of Wyndham, 300km to the north.
