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iTech Minerals reaches milestone as maiden drilling program wraps up

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By Robin Bromby - 
iTech Minerals ASX ITM high purity Kaolin REE rare earths ionic adsorption clay drilling Eyre Peninsula

iTech Minerals is awaiting assays for 90% of the 478 holes drilled across the Eyre Peninsula project.

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iTech Minerals (ASX: ITM) has completed all 478 drill holes at its Eyre Peninsula tenement package in South Australia – a significant event coming less than six months after listing on the ASX.

The company’s initial public offering presented investors with more than 21 projects in South Australia (and two in NSW) which included a broad range of minerals: halloysite, kaolin, graphite, copper, lead, zinc, silver, tin, tungsten, molybdenum and gold. 

But it was no starting-from-scratch operation: iTech has been formed to take over exploration projects from Adelaide-based Archer Materials (ASX: AXE), formerly an explorer but now an advanced technology play. 

Drill program a ‘significant milestone’ 

While the company now awaits most of the assays, the completion of the drilling program is described by managing director Mike Schwarz as a “significant milestone”. 

Drilling covered the Ethiopia kaolin-ionic adsorption clay (or IAC) rare earths prospect, the Bartels and Burtons IAC rare earths prospects, and the Caralue Bluff kaolin prospect.

“Promising early results from Bartels have identified a new clay hosted REE (rare earth elements) prospect,” Mr Schwarz said.

The holes averaged 20m in depth for a total of 9,805m.

So far, 10% of the assays have been received (representing 49 of the 478 holes). 

More holes ordered after visual kaolin results

Significant intersections at Bartels includes 15m at 1,594 parts per million of total rare earths oxides (TREO) with mineralisation intersected from 12m down hole, 16m at 936ppm TREO, 15m at 724ppm TREO (from surface) and 17m at 583ppm TREO.

An additional 108 drill holes were undertaken at Ethiopia and Caralue Bluff due to positive visual kaolin results.

iTech is exploring for kaolinite-halloysite, IOC rare earth element mineralisation and developing the Campoona graphite deposit in South Australia.

The company also has extensive exploration tenure prospective for copper-gold porphyry mineralisation, iron oxide-copper-gold and gold in South Australia; and tin, tungsten, and polymetallic Cobar style mineralisation in New South Wales

At the time of the IPO, chairman Glenn Davis said his board was confident iTech would become a valuable kaolin and battery minerals company.