Lithium Energy Limited (ASX:LEL) has confirmed a significant new graphite discovery from the recently completed maiden drilling programme at the 100% owned Corella Graphite Project located in Queensland.
Assay results show multiple outstanding (composite) intercepts of graphite in excess of 15% Total Graphitic Carbon (TGC) with individual intercepts up to 27.4% TGC.
Corella is located ~120 kilometres south of the Burke Deposit, which comprises a high grade graphite JORC Indicated and Inferred Total Mineral Resource of 9.1Mt at 14.4% Total Graphitic Carbon (TGC) for a total of 1.3Mt contained graphite.
The company is now moving to delineate a maiden JORC Mineral Resource of graphite at Corella, and examine the potential to build the company’s overall graphite inventory as part of the proposed development options to create a vertically integrated battery anode material manufacturing production facility.
“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,” Executive Chairman, 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.”
The March/April 2023 maiden resource definition drilling programme at Corella comprised 16 Reverse Circulation (RC) holes (Hole ID’s CGRC001 to CGRC016) totalling 1,569 metres.
Lithium Energy has engaged a consultant geologist (who recently completed the JORC Mineral Resource upgrade of the Burke Deposit) to delineate a maiden JORC Inferred Mineral Resource estimate for Corella The compilation of the geological database from the March/April 2023 drilling programme for initial resource modelling will commence shortly and will feed into the maiden JORC Mineral Resource estimate for Corella.