First Drill Results From The Sugarloaf Graphite Prospect, South Australia

WATCH: iTech MD Mike Schwarz discuss the first results from the Sugarloaf Graphite Prospect (4min)

HIGHLIGHTS

  • Best results from the first 6 of 17 drillholes include
    o SLRC23-006 – 28m @ 15.0% TGC from 75m and 18m @ 11.2% TGC from 114m, ended in mineralisation
    o SLRC23-004 – 17m @ 6.4% TGC from 80m
    o SLRC23-002 – 6m @ 5.3% TGC from 39m and 6m @ 7.8% TGC from 48m and 2m @ 12.6% TGC, ended in mineralisation
    o SLRC23-003 – 10m @ 4.0% TGC from 5m
 
  • Assays from a further 11 drill holes are due in the coming weeks
 
  • It is believed that SLRC23-006 hit the main graphite target at depth, with drill holes SLRC23-0013 and 0014 demonstrating continuity to surface (assays pending)
 
  • With the main target located in hole SLRC23-006, later holes were more effective at targeting the main graphite horizon at Sugarloaf and obtaining samples for metallurgical test work
+ READ THE FULL ASX RELEASE

"The results from the first 6 of 17 drill holes at Sugarloaf are a great start for iTech Minerals’ 2023 graphite drilling campaign. With combined intervals of over 46m at greater than 10% graphite, the Company has shown that thick, high-grade graphite mineralisation extends well into the southern half of the 4.3km long exploration target and further estimates, from holes yet to be reported, show that the mineralisation extends to within metres of the surface."

Figure 1. Drill collar plan of the southern half of the Sugarloaf Graphite Prospect showing results from the first 6 of 17 drill holes completed.

THE DRILL PROGRAM

The reverse circulation (RC) drill program consisted of 17 drill holes designed to test the southern extent of a 4.5km electromagnetic anomaly at the Sugarloaf Graphite Prospect. The northern 2km area had been drill tested by Archer Materials Ltd between 2008 and 2012. The current round of drilling by iTech, has confirmed the full 4.5km extent of the Electromagnetic (EM) anomaly is caused by graphite mineralisation.

The results from the first 6 holes at Sugarloaf demonstrate a continuation of the thick, high-grade mineralisation well into the southern half of the exploration target. It should be noted that since the graphite mineralisation was being targeted a significant distance from the last known location in drilling, it took several holes at the start of the program to locate the best graphite horizon. From observations, subsequent drill holes were much more effective in intersecting the target horizon at shallower depths (ASX Release 23 March 2023, Drilling doubles the strike length at the Sugarloaf Graphite Prospect).

+ READ THE FULL ASX RELEASE

WATCH: iTech MD Mike Schwarz spends the day at the Graphite Drilling Program (4min)

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