- iTech Minerals (ITM) completes drilling its last of four regional traverses, spaced one kilometre apart, across its four-kilometre Lacroma graphite prospect
- Resource drilling is now underway at the central part of ITM’s Lacroma prospect
- Mineralisation is believed to thin out towards the far northern and southern ends of the prospect, prompting the company to concentrate on a two-kilometre strike that passes directly through this central zone
- ITM shares are down 9.30 per cent, trading at 19.5 cents at 12:04 pm AEST
iTech Minerals (ITM) has completed the last of four regional traverses, each spaced one kilometre apart, across its four-kilometre Lacroma graphite prospect in South Australia.
The aim was to identify priority areas within the prospect that could lead to the definition of a graphite resource.
Subsequently, resource drilling has commenced at the central part of the Lacroma prospect. Notably, significant graphite assays from this area showed a total graphite concentration (TGC) of 8.7 per cent and nine per cent over spans of 28 and 37 metres, respectively, at depths no greater than 65 metres.
iTech plans to focus on the two-kilometre strike that traverses the central zone of the prospect. The company has confirmed the potential for substantial graphite mineralisation within this section.
“The mineralisation in this region appears to extend 200 metres across strike, from surface to 150 metres deep, and with a true thickness of 60 metres of 6-7 per cent TGC, with a 25-metre thick high-grade core of 8-9 per cent TGC,” ITM Managing Director Mike Schwarz said.
The company is currently awaiting assay results from the final 10 out of 14 holes drilled at the southernmost part of the Central Lacroma traverse.
ITM shares were down 9.30 per cent, trading at 19.5 cents at 12:04 pm AEST.