- iTech Minerals (ITM) strikes “impressive” graphite results from the first four drill holes at its Lacroma graphite prospect in South Australia
- Results from the drilling included two metres at 8.3 per cent total graphite concentrate (TGC) at 85 metres, including 16 metres at 6.3 per cent TGC from 102 metres
- The program also confirmed an underlying six kilometre airborne electromagnetic anomaly was caused by a significant graphite mineralised system
- Drilling is ongoing, with plans in place to move the drill rig two kilometres north to commence a third east-west drill section at Central Lacroma
- ITM shares were trading at 24 cents at 1:50 pm AEST
iTech Minerals (ITM) has struck “impressive” graphite results from the first four drill holes at its Lacroma graphite prospect in South Australia (SA).
The company’s first holes drilled at Central Lacroma defined an extensive graphite horizon, with results including 91 metres at six per cent total graphitic carbon (TGC) from four metres in one hole, and 76 metres at 7.1 per cent TGC from 19 metres.
iTech also uncovered two metres of 8.3 per cent TGC from 85 metres, including 16 metres at 6.3 per cent TGC from 102 metres, and 30 metres at 6.8 per cent TGC from 121 metres.
Drilling confirmed an underlying six kilometre airborne electromagnetic anomaly was caused by a significant graphite mineralised system. The mineralisation had a true thickness of 60 metres and extends 200 metres across strike.
A second drill traverse was conducted one kilometre south of this location and confirmed a one-kilometre continuation of the same graphite horizon, with assays pending.
Managing Director Mike Schwarz said the company was “pleased” with the results.
“The scale of the graphite mineralisation at Central Lacroma is becoming apparent, with a significant thickness of graphite mineralisation intersected in drilling from the surface and
in two traverses over one kilometre apart,” he said.
“With a further four to five kilometres of the strike still to be tested in the current drill program, iTech hopes to establish a significant new graphite asset for the company.”
Preliminary metallurgy test work on graphite from historical drilling demonstrated a high-grade graphite concentrate of more than 90 per cent TGC, with recoveries of approximately 83 per cent.
iTech said it will continue with the program, with around 2800 metres of its expected 10,000 metres of work completed to date.
ITM shares were trading at 24 cents at 1:50 pm AEST.