• iTech drilling extends Lacroma Central graphite mineralisation by 500m to the north
  • Graphite mineralisation predicted to increase in both grade and thickness to the east in the northern traverses
  • Mineralisation south of initial discovery holes also expected to be thicker and higher grade
  • Upcoming drilling to focus first on southern extent of Lacroma Central

 

Drilling at iTech’s Lacroma graphite prospect returns significant results up to 20m grading 7.9% TGC from 58m, extending mineralisation at Lacroma Central by another 500m. 

iTech Minerals’ (ASX:ITM) Campoona project already has an 8.55Mt resource @ 9.0% Total Graphitic Carbon (TGC), on a granted mining lease and with approved multipurpose licences for processing infrastructure and groundwater extraction.

That’s a big plus for any future operation. Another big positive is that, unlike many graphite resources around the world, iTech’s resources can be readily converted into high purity spherical graphite for use in lithium-ion batteries.

To become a globally significant supplier of battery anode material, the company is in the process of expanding resources via an extensive, 12,000m drilling program at its Lacroma and Sugarloaf prospects.

These prospects have the potential to increase iTech’s graphite inventory many times over, managing director Mike Schwarz said mid-year.

“With a granted mining lease on its existing JORC compliant Mineral Resources, iTech is well placed to quickly advance its projects to development,” he says.

 

Image: supplied

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More drilling success at Lacroma

Initial drilling by iTech at Lacroma Central confirmed that the underlying >6km airborne electromagnetic anomaly is caused by a significant graphite mineralised system.

Highlight intersections included several thick and shallow hits like 91m at 6% TGC from 4m; 76m at 7.1% TGC from 19m; and 69m at 7.6% TGC from 38m.

Drilling has now extended mineralisation 500m to the north with notable intercepts such as:

  • 20m at 7.9% TGC from 58m including 11m at 9% TGC from 63m;
  • 18m at 7.1% TGC from 89m including 7m at 8.6% TGC from 99m; and
  • 21m at 6.6% TGC from 22m including 6m at 12% TGC from 36m.

While these holes demonstrate that mineralisation extends north over 500m and remains open, they do appear to have hit the thinner western zone of graphite mineralisation.

As such mineralisation should increase in grade and thickness to the east, the company says. Mineralisation also appears to increase in grade and thickness to the south.

Once current infill and extensional drilling is completed, iTech plans to continue drilling at 100m spaced east-west sections to the south.

This will test that apparent trend of increasing thickness and grade in that direction. It also plans to extend the northern traverses to the east where the mineralisation is also predicted to increase in thickness and grade.

 

Image: supplied

 

“The latest results from the Lacroma graphite prospect have demonstrated that strong graphite mineralisation continues 500m north of the first traverse drilled at Lacroma Central,” Schwarz said.

“The drilling program continues to deliver significant results with over 60 holes of the resource drilling program completed to date.”

 

This article was developed in collaboration with iTech Metals, 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.

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