Lithium Energy has intersected high-grade graphite at a maiden drilling program at the Corella graphite project. Pic via Getty Images.
Lithium Energy stacks up more high-grade graphite from Corella
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Lithium Energy has produced high-grade graphite hits at Corella to support its proposed vertically integrated battery anode manufacturing plant.
Assays from maiden drilling at the Corella graphite project confirm multiple significant high-grade graphite intercepts over 15% total graphite carbon (TGC) across thick widths that will feed into a maiden JORC mineral resource estimate.
The March/April drilling program consisted of 16 RC drill holes across 1,569m, and hits of note include individual wide intercepts of up to 23 metres @ 27.4% TGC.
Hole CGRC008 showed 133m @ 10.1% total graphite carbon (TGC) from surface, including 9m @ 20.5% TGC from 110m, while CGRC012 intersected 83m @ 14.8% TGC from 8m, including 23m @ 27.4 % TGC from 13m.
The discoveries at Corella adds to Lithium Energy’s (ASX:LEL) world-class Burke graphite deposit which has an indicated and inferred total resource of 9.1 million tonnes at 14.4% TGC for a total of 1.3mt of contained graphite.
Corella is ~120km south of the Burke deposit in northwest QLD, and based on the impressive results has engaged consultant geologists to delineate a maiden inferred resource estimate.
LEL is also currently investigating basing its proposed critical minerals production business in the Lansdown Eco-Industrial precinct near Townsville and is undertaking a pre-feasibility study for the facility to be fed from both Burke and Corella.
“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,” LEL chairman William Johnson said.
“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.”
LEL has been quite busy lately, as elsewhere it has three drill rigs spinning at its flagship Solaroz lithium-brine project in Argentina to help define a maiden resource.
This article was developed in collaboration with Lithium Energy, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
