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Lincoln hits over 30 per cent graphite

Lincoln graphite

The Kookaburra Gully graphite project in South Australia continues to deliver high-grade results for Lincoln Minerals.

Eight of 11 drill holes that targeted the northern portion of the designed open-pit intersected graphite at shallow depths.

Results included:

  • 24m at 16.8 per cent total graphite content (TGC) from 1m
  • 29m at 11.3 per cent TGC from 5m
  • 16m at 20.3 per cent TGC from 69m
  • 16m at 18.9 per cent TGC from 79m
  • 19m at 15.5 per cent TGC from 81m
  • 3m at 30.5 per cent TGC from 80m

These results are expected to boost Kookaburra Gully’s known mineral resource, which Lincoln hopes to release in April, and improve the economics of the project’s initial years of production.

“These exceptionally high-grade graphite results from drilling at Kookaburra Gully confirm our confidence that we will continue to rapidly develop what is already the second largest graphite resource on Eyre Peninsula,” Lincoln chief executive officer Jonathan Trewartha said.

“What makes these results particularly exciting is that the drilling results are expected to add to our high-grade core of 2Mt (million tonnes) at 15.2 per cent TGC that starts at surface.

“The exceptionally high-grade mineralisation at surface positions us well to be in the lower quartile of the cost-curve once the pre-feasibility study is updated in Q4 of this calendar year.”

Lincoln is planning further resource drilling in the second half of 2024, which will continue to explore the northern portion of the Kookaburra Gully project. Follow-up reverse circulation (RC) drilling is also in the works to penetrate the banded iron formation to the north-west.

Drilling will also be focused on the south-west section of Kookaburra Gully’s eastern anomaly.

The announcement comes after Lincoln last week revealed a 1.2-billion-tonne magnetite resource at its Green Iron project in South Australia.

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