iTech Minerals (ASX: ITM) has defined an extensive drill target at Lacroma graphite prospect on South Australia’s Eyre Peninsula.
The South Australia-based exploration company has identified a 12km long airborne electromagnetic anomaly which spans across “an extensive graphitic horizon on EL6634.”
EL6634 is owned by Chemex Materials (ASX: CMX), but iTech owns 100% of the graphite rights through its wholly-owned subsidiary Pirie Resources.
iTech managing director Mike Schwarz said all signs are positive for drilling to commence in the coming months.
“Lacroma constitutes a near surface, large-scale graphite drill target extending for over 6 km,” he said.
“With confirmed graphite mineralisation in drilling, positive metallurgical results, landowner approvals in place and government drilling approvals submitted, iTech is excited to start drill testing this target in the next few months.”
The company has modelled a first stage drill target in the northern 6km of the where the anomaly was uncovered.
Lacroma is 45km northwest of Cleve on the central Eyre Península, and around 20km from iTech’s proposed graphite processing plant for the Campoona spherical graphite project.
Drill hole shows thick graphite mineralisation
Drilling has confirmed the anomaly is prospective for graphite, with drill hole WG021 encountering 60m at 6.8% total graphitic carbon (TGC).
Early metallurgy of the mineralisation showed high-grade graphite concentrate of more than 90% TGC, with recoveries of around 83% able to be achieved following the same flowsheet set up for the Campoona graphite deposit.
The company’s latest findings follow its recent exploration target at the Sugarloaf graphite prospect of 158-264 million tonnes grading 7-12% TGC.
Next steps for Lacroma
iTech will drill Lacroma in the “next few months”, once landowner approvals are sorted and government drilling approvals have been received.
The company hopes to receive its drilling approvals from the government within four-to-six weeks.
iTech plans to focus on drill testing Lacroma West initially, as graphite mineralisation has already been revealed through historical drilling and appears to be over a relatively large area according to the conductivity cross sections.
Also, test holes will be drilled into Lacroma East to confirm the anomaly is caused by graphite and determine depth.
The program will take up to six weeks to complete and will be carried out at the same time as drilling the Sugarloaf graphite exploration target, which is around 20km to the southwest.
