- Lithium Energy (LEL) has intercepted “outstanding” graphite intercepts during its maiden drill program at the Corella graphite project in Queensland
- Intercepts were in excess of 15 per cent total graphite carbon (TGC), with individual intercepts of up to 27.4 per cent TGC
- Lithium Energy is planning to establish a maiden JORC mineral resource of graphite at Corella
- The company is examining the potential to build the proposed development to construct a vertically integrated battery anode material manufacturing business
- LEL is trading 3.33 per cent higher at 93 cents at 11:00 am AEST
Lithium Energy (LEL) has confirmed a “significant” high-grade graphite discovery during its maiden drill program at the Corella graphite project in Queensland.
The drilling program yielded multiple “outstanding” intercepts in excess of 15 per cent total graphitic carbon (TGC), with individual intercepts of up to 27.4 per cent TGC.
“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,” Lithium Energy Executive Chairman William Johnson said.
“We are looking forward to the maiden JORC mineral resource estimate for Corella based upon these positive drilling results.”
The discovery adds to the company’s high-grade Burke deposit which boasts an inferred total mineral resource estimate of 9.1 million tonnes at 14.4 per cent TGC.
Lithium Energy is planning to establish a maiden JORC mineral resource of graphite at the Corella project, located roughly 120 kilometres south of its Burke deposit.
Lithium Energy will now examine the potential to build the company’s overall graphite inventory as part of the proposed development to construct a vertically integrated battery anode material manufacturing business.
LEL was up 3.33 per cent, trading at 93 cents at 11:00 am AEST.