Lincoln Minerals has commenced its maiden drill program at the Kookaburra Gully Graphite Project on South Australia’s Eyre Peninsula.

The drilling follows an EM aerial survey over the project last July in which a 4.5km-long anomaly was defined. A subsequent scoping study in September last year confirmed a $37.8 million plant could annually process 200,000 tonnes for 16,000-20,000 tonnes of high-grade flake graphite concentrate.

The drill program will test the strike length and depth extent of mineralization at the site which is about 35km north of Port Lincoln.

Exploration in the mid-1980s announced an inferred resource of 880,000 tonnes @ 11.5% graphitic carbon down to a depth of 50 metres. The adjoining historic Koppio graphite mine has a small inferred resource but coarse flake graphite units range up to 32% graphitic carbon.

“Both the Kookaburra Gully and Koppio deposits rank in the top 10 deposits in the world in terms of the average grades of their in-situ graphitic carbon content,” says Lincoln’s managing director John Parker. “Subject to weather and ground conditions, this phase of drilling should be completed in 2-3 weeks with assay results about 3-4 weeks later.”

The exploration target for the drilling program at Kookaburra Gully is between 1 and 3.1 million tonnes at an average grade of 10-15% graphitic carbon. The total exploration targets for the Kookaburra Gully-Koppio survey area is between 14.2 and 42.6 million tonnes at estimated average grades of 7-15% graphitic carbon.

www.lincolnminerals.com.au

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