Lithium Energy starts graphite resource drilling at Corella
Lithium Energy has started drilling aimed at defining a maiden resource at the Corella graphite prospect within its Burke project in North Central Queensland.
The 20 reverse circulation and two diamond holes, which are incidentally the first holes to be drilled by the company at the Corella tenement, will seek to delineate a significant Inferred Resource while providing additional graphite material for metallurgical and anode test work.
Lithium Energy (ASX:LEL) is currently carrying out the same test work on graphite recovered from its Burke deposit about 150km to the north, which already has an Inferred Resource of 6.3Mt grading 16% total graphitic content and assays pending for an infill drilling campaign aimed at upgrading resources to the higher confidence Indicated category.
Successful drilling at Corella will add to the company’s overall graphite inventory and provide more development options.
“Corella holds great promise for us to significantly expand the size of our overall graphite inventory which could then potentially feed into our overall Burke graphite project,” executive chairman William Johnson said.
“Our project and the aim of the company is to capitalise on the exceptionally high grades of graphite already discovered by the company to feed into a proposed vertically integrated anode manufacturing facility based in Queensland.”
The Corella tenement is located 40km west of Cloncurry with ground electromagnetic survey and surface sampling on the northeast corner having previously identified the potential for significant graphite mineralisation.
Notably, the survey had highlighted a 1,000m by 500m area with conductive features similar to those corresponding to high-grade graphite occurring at the Burke tenement.
Needless to say, this area will be the focus of the maiden drilling program of 20 RC holes totalling about 2,000m and two diamond holes totalling 200m.
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.