Drilling underway at the Lacroma Graphite Prospect (2023)
HIGHLIGHTS
- iTech has completed the last of four regional traverses, spaced 1km apart, across the 4km graphite prospect at Lacroma.
- The aim of the regional drilling was to determine the best part of the graphite prospect to define a graphite resource.
- Resource drilling has now commenced on the central part of the prospect where drilling identified a substantial thickness of graphite mineralisation close to surface.
- The central traverse included significant graphite assays of up to:
- LARC23-005 – 28m @ 8.7% TGC from 39m
- LARC23-001 – 37m @ 9.0% TGC from 65m
- Mineralisation appears to thin at the extreme northern and southern extents of the Lacroma Graphite Prospect, with the most prospective region occurring over a 2 km central zone, coincident with the peak of the airborne electromagnetic anomaly.
- New significant graphite assays from the northernmost third traverse at Central Lacroma include:
- LARC23-037 – 10m @ 7.7% TGC from 73m
- LARC23-038 – 17m @ 5.4% TGC from 16m,
- incl 4m @ 8.0% TGC from 29m
- New significant graphite assays from the first 4 of 14 holes, from the southernmost fourth traverse at Central Lacroma include:
- LARC23-050 – 10m @ 7.0% TGC from 41m
- LARC23-049 – 7m @ 7.3% TGC from 94m
- Results from the remaining 10 holes are pending
“Now that drilling has confirmed that the central 2 km of the 4 km graphite prospect has the potential to contain significant graphite mineralisation, iTech has commenced resource drilling across this area. The mineralisation in this region appears to extend ~200m across strike, from surface to >150m deep, with a true thickness of ~ 60m of 6-7% TGC with a 25m thick high-grade core of 8-9% TGC. With thick mineralisation from surface, a deep groundwater table, deep weathering and little sulphide in the top 80-100m, the potential strip ratio and mining characteristics are all favourable for a low-cost mining operation.
WATCH: Managing Director Mike Schwarz explain the scale the Lacroma Prospect.
