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  • Lithex Resources Lays Graphite Exploration Plans Into Place 0 comments
    Jan 20, 2013 10:03 PM

    Lithex Resources (ASX: LTX) is pushing ahead with its graphite focus with the commissioning of a survey at its Munglinup Graphite Project in Western Australia and the grant of a South Australian exploration licence.

    The 344 line kilometre Versatile Time-Domain Electromagnetic (VTEM) helicopter borne survey at Munglinup will be conducted by UTS Geophysics, and is scheduled for early March 2013.

    It will cover the northern portion of E74/517 and E74/531 in a survey area along strike and between a number of graphite and nickel occurrences located in the projects vicinity.

    No EM surveys have been carried out in this area and the new data will augment existing EM geophysical data already acquired for the southern half of the project area, which has highlighted a number of anomalies for drill testing.

    Lithex will receive data from the survey as it progresses, allowing additional infill lines to be flown if warranted by the preliminary results.

    The survey will take about five days to fly with preliminary reports and analysis due within two weeks after completion.

    Munglinup is located close to the 1.47 million tonne at 18.2% fixed carbon Halbert's Main Graphite Deposit in Western Australia.

    The Halbert's Main Graphite Deposit, which is not owned by Lithex, is located about 2 kilometres north of the company's Munglinup Central tenement, which exhibits a 3 kilometre strike length of electromagnetic anomaly.

    Lithex has identified several strong conductors interpreted to represent graphite rich horizons at the Munglinup Project from previous electromagnetic geophysical data.

    Initial rock chip sampling of graphitic schist has previously returned between 8.6% and 23.1% total graphitic carbon from four samples.

    Meanwhile, Lithex has been awarded the Eyre Point project (EL 5143) on the Eyre Peninsula in South Australia about 20 kilometres north of the Uley Graphite Mine.

    The Uley Graphite Deposit, which is owned by Strategic Energy Resources (ASX: SER), is situated within the Mikkira Graphite Province, and is one of the largest coarse flake graphite deposits in the world, containing disseminated, high grade flake graphite.

    Uley has a Resource of 6.6 million tonnes at 8.7% total graphitic carbon.

    Numerous graphite occurrences have been recorded in this region over a 200 kilometre long zone extending from south of Port Lincoln to Kimba, including numerous deposits and prospects currently being evaluated by other ASX listed companies including Lincoln Minerals (ASX:LML) and Archer Exploration (ASX:AXE).

    Eyre Point is one of a number of projects recently acquired by Lithex through its acquisition of Far North Minerals.

    Lithex has conducted an initial field visit to the project, and planning is currently underway for an airborne electromagnetic (NYSE:EM) survey, which has proven to be successful in identifying graphite targets elsewhere on the Eyre Peninsula.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

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