Lithium Energy Claims High-Grade Graphite Discovery at Corella Project
THE DRILL SERGEANT: Lithium Energy (ASX: LEL) has claimed a new graphite discovery at the company’s 100 per cent-owned Corella graphite project in Queensland.
Lithium Energy made the discovery via a recently completed maiden drilling program, from which assay results have shown multiple outstanding (composite) intercepts of graphite in excess of 15 per cent Total Graphitic Carbon (TGC), with individual intercepts up to 27.4 per cent TGC.
The high-grade intercepts of graphite encountered at Corella include:
CGRC003
142 metres at 9.5 per cent TGC from surface, including 6m at 16.1 per cent TGC from 35m and 10m at13.4 per cent TGC from 44m;
CGRC008
133m at 10.1 per cent TGC from surface, including 9m at 20.5 per cent TGC from 110m;
CGRC012
83m at 14.8 per cent TGC from 8m, including 23m at 27.4 per cent TGC from 13m;
CGRC002
64m at 13.1 per cent TGC from 45m, including 23m at 19.4 per cent TGC from 57m; and
CGRC013
54m at 13.7 per cent TGC from surface, including 6m at 21.8 per cent TGC from 32m.
Lithium Energy is now moving to delineate a maiden JORC Mineral Resource Estimate of graphite at Corella while examining the potential to build its overall graphite inventory.
Corella is located to the south of the company’s Burke deposit, which comprises a high-grade graphite JORC Indicated and Inferred Total Mineral Resource of 9.1 million tonnes at 14.4 per cent TGC for a total of 1.3 million tonnes contained graphite.
“As we advance with the Pre-Feasibility Study for our Australian-based vertically integrated battery anode material manufacturing business, confirming a new graphite discovery at Corella is a highly positive development,” Lithium Energy executive chairman William Johnson said in the company’s ASX announcement.
“The potential to add additional graphite from Corella to the already high-grade Resource at the Burke Tenement and thus expand overall Burke project graphite inventory, offers the potential for significantly expanded development options for this exciting project.
“We are looking forward to the maiden JORC Mineral Resource Estimate for Corella based upon these positive drilling results.”
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