Lithium Energy announces Queensland graphite target

Lithium Energy (ASX:LEL) has announced a substantial exploration target for the critical area situated between and outside its existing high-grade Burke and Mt Dromedary Graphite Projects in Queensland.

The resource development initiative comes as the company nears completion of an extensive infill drilling programme designed to step up resource definition.

To date, the company has completed 44 reverse circulation holes spanning approximately 4,839m and five diamond holes totalling 426m, with a final four RC holes scheduled for completion in June.

Based on graphitic schist geology logged from the initial pierce points and assay results received so far, the newly determined exploration target ranges between 23.2 and 46.5 million tonnes, with an estimated total graphitic carbon grade of 12% to 16%. This represents a potential 2.8 to 7.4 million tonnes of contained graphite.

Management emphasised that this target remains conceptual in nature but represents a separate, massive growth pipeline alongside the company's existing high-grade inventory of 3.14Mt.

The current mineral resource includes the Mt Dromedary deposit, holding 12.7Mt at 14.5% TGC, and the Burke deposit, holding 9.1Mt at 14.4% TGC.

While assay results from seven RC holes have been previously reported, Lithium Energy expects the balance of the laboratory assays to return over the next four to six weeks.

At the time of reporting, Lithium Energy’s share price was $0.36.