WATCH: MD Mike Schwarz discuss the new results.
• Significant graphite results from the latest drill assays at Central Lacroma include:
o LARC23-066 – 90m @ 6.1% TGC from 47m
incl 25m @ 8.0% TGC from 47m
and 8m @ 8.3% TGC from 113m
and 11m @ 8.4% TGC from 125m
o LARC23-064 – 15m @ 8.0% TGC from 41m
incl 4m @ 10.2% TGC from 51m
and 20m @ 6.2% TGC from 65m
incl 5m @ 8.6% TGC from 71m
o LARC23-065 – 53m @ 7.2% TGC from 70m
incl 22m @ 8.6% TGC from 77m
and 10m @ 9.1% TGC from 112m
o LARC23-067 – 63m @ 6.5% TGC from 89m
incl 5m @ 9.1% TGC from 97m
and 8m @ 8.1% TGC from 109m
and 3m @ 9.5% TGC from 136m
• Drill holes extend mineralisation 200m to the north of where mineralisation was first drilled at Lacroma (ASX Release “Impressive Graphite Intervals in First Lacroma Drilling” on 29 May 2023).
• Mineralisation at this location extends ~150m across strike, from ~40m below surface to >150m deep, strikes NNW-SSE and dips 450 to the east.
• Approximately 50 resource drill holes completed to date.
• Drilling is continuing at 100m spaced east-west sections to the north and when completed will continue at similar spacings to the south.
The Lacroma Graphite Prospect is located approximately 20km south-west of Kimba on the central Eyre Peninsula and <20km from iTech’s proposed graphite processing plant for the Campoona Spherical Graphite Project. The graphite at this location occurs within the Paleoproterozoic Hutchison Group Metasediments and is likely to have formed from organic rich stratigraphic horizons metamorphosed during regional upper greenschist to lower amphibolite facies metamorphism during the Kimban Orogeny. The Central Lacroma graphite rich horizon forms a north-south trending structure with a shallow easterly dip. Drill Results Assay results have been received for all holes drilled 25m apart along the east-west traverse 6,316,800mN at Lacroma Central. This traverse is located 200m north of where mineralisation was first drilled at Lacroma as announced on 29 May 2023. The assays from this traverse demonstrate that mineralisation at this location extends ~150m across strike, from ~40m below surface to >150m deep, strikes NNW-SSE and dips 450 to the east. (Figure 3).
These results, along with results released on 5 June 2023 as “High grade Core Identified in New Lacroma Drill Results”, have confirmed a high-grade graphite core in the mineralisation at Lacroma. Drill results from the first drill traverse defined an extensive graphite horizon which extends ~150-200m across strike, from surface to >150m deep, strikes NNW-SSE and dips 450 to the east. The mineralisation has a true thickness of approximately 50-60m of 5-7% TGC with a 25m thick high-grade core of 8-9% TGC (Figure 4).
Drill plan of Lacroma Central resource drilling area with latest significant assay results