Lithium Energy has received more thick, high-grade +20% TGC graphite results from drilling at its Burke graphite project in Queensland, which highlight just how rich it could potentially be.

Results such as 102m grading 13.3% total graphitic carbon (TGC) from a down-hole depth of 22m including 20m at 23.1% TGC from 103m (BGRC022) and 88m at 18% TGC from 15m including 68m at 20.1% TGC from 32m (BGRC024) position Burke as one of the highest-grade graphite deposits globally.

To highlight just how significant these hits are, it ought to be noted that they are significantly thicker than those reported in the first seven reverse circulation holes Lithium Energy (ASX:LEL) received results for earlier this month.

Little wonder then that shares in the company climbed 8.14% today to 93c.

The results received to date are encouraging given that Burke already has an Inferred resource of 6.3Mt at 16% TGC, three times the grade of many deposits in other parts of the world.

Further growth is likely, especially if assays from the remaining 16 RC holes and seven diamond holes in the program return equally attractive results.

Coming plans

Lithium Energy expects to kick off a program of 2,000m of RC and 200m of diamond drilling at the Corella tenement about 150 km south of Burke after the end of the Queensland wet season in March/April 2023.

This maiden program will test the extent of graphite mineralisation which was identified through previous sampling and electromagnetic surveys with the goal of defining a maiden JORC resource at Corella.

The company intends to upgrade the current Burke Inferred resource to an Inferred and Indicated resource using results from this drilling.




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.