Lithium Energy Ltd (ASX:LEL) has completed a highly successful maiden drilling program at the Corella Graphite Project, confirming the presence of exceptionally wide intervals of high-grade graphite mineralisation up to 23 metres at 27.4% total graphitic carbon (TGC).
Corella sits just 120 kilometres south of the company’s Burke Graphite deposit, which holds a JORC mineral resource of 9.1 million tonnes at 14.4% TGC for a total of 1.4 million tonnes of contained graphite.
Lithium Energy intends to devote its energy to producing a maiden mineral resource at Corella, while also examining the potential to develop a vertically integrated battery anode materials manufacturing production facility.
Highly positive development
“As we advance with the pre-feasibility study for our Australian-based vertically integrated battery anode material manufacturing business, confirming a new graphite discovery at Corella is a highly positive development,” Lithium Energy executive chair William Johnson said.
“The potential to add additional graphite from Corella to the already high-grade resource at the Burke tenement and thus expand overall Burke Project graphite inventory, offers the potential for significantly expanded development options for this exciting project.
“We are looking forward to the maiden JORC mineral resource estimate for Corella based upon these positive drilling results.”
Highlight drilling results include:
- 142 metres at 9.5% TGC from surface, including 6 metres at 16.1% TGC from 35 metres and 10 metres at 13.4%TGC from 44 metres;
- 133 metres at 10.1% TGC from surface, including 9 metres at 20.5 % TGC from 110 metres;
- 83 metres at 14.8% TGC from 8 metres, including 23 metres at 27.4 % TGC from 13 metres;
- 64 metres at 13.1% TGC from 45metres, including 23 metres at 19.4% TGC from 57 metres; and
- 54 metres at 13.7% TGC from surface, including 6 metres at 21.8 % TGC from 32 metres.
Burke and Corella graphite project tenement locations in North Central Queensland.