Significant high grade graphite assays from Central Lacroma include:
o LARC23-005 – 28m @ 8.7% TGC from 39m
o LARC23-001 – 37m @ 9.0% TGC from 65m
o LARC23-002 – 37m @ 8.4% TGC from 109m
o LARC23-004 – 21m @ 8.6% TGC from 139m
o LARC23-006 – 4m @ 9.5% TGC from 36m and 7m @ 9.2% TGC from 59m
New broader graphite intervals in new assays:
o LARC23-002 – 75m @ 7.0% TGC from 71m
o LARC23-006 – 22m @ 5.4% TGC from 1m and 38m @ 6.1% TGC from 32m
o LARC23-007 – 18m @ 4.7% TGC from 3m and 17m @ 5.5% TGC from 32m and 5m @ 5.1% TGC from 52m
• Mineralisation extends ~200m across strike, from surface to >150m deep, strikes NNW-SSE and dips 450 to the east, with a true thickness of ~ 60m of 6-7% TGC with a 25m thick high-grade core of 8-9% TGC
• A second drill traverse, 1 km to the south, has confirmed continuation of the same graphite horizon along strike with assays pending
• Drilling is ongoing, with approximately 3,200m of planned 10,000m program completed to date
Lacroma Graphite Prospect
WATCH: MD Mike Schwarz explains the scale of the Lacroma Graphite Prospect and the current drilling program.
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.
Additional results have been received for drill holes in the first traverse drilled at Lacroma, with final assays from the first traverse pending. These results, along with a reassessment of intervals released on 29 May 2023 “Impressive graphite intervals drilled from surface in first drill holes at Lacroma”, have confirmed a high-grade graphite core in the mineralisation at Lacroma.
Drill results from the first drill traverse have defined an extensive graphite horizon which extends ~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 60m of 6-7% TGC with a 25m thick high-grade core of 8-9% TGC (Figure 2). Geological logging of the second drill traverse has shown that this same horizon occurs over 1 km to the south, consistent with iTech’s model that the 6km airborne electromagnetic anomaly is caused by a regionally extensive graphite horizon of scale.