The first graphite-focused core drill has been completed by Metallica Minerals Limited as part of the company’s Esmeralda Graphite Project in north Queensland.
More than 120 metres of graphite mineralisation was intersected from a depth of 68 metres, suggesting that significant portions of graphite are exhibiting grades consisting more than 20 per cent graphite.
Metallica CEO, Simon Slesarewich said “The results provide the first hard evidence that Esmeralda hosts an extensive and high-grade graphite deposit. It is gratifying to see our research and theoretical modelling validated so clearly and so early in our first field program.”
Slesarewich believed that Australia was well placed ahead of its international competitors in comparing the substantial width and consistency of the graphite mineralisation deposits.
In 2006, Metallica identified significant graphite occurrences within the Esmeralda Granites in the project area.
The initial drilling program targeted well-defined and ground-defined intense electromagnetic anomalies, focusing on base metal and gold-bearing sulphide mineralisation.
Metamorphic-style graphite deposits make up about 95% of the world’s known graphite deposits and Metallica has attempted to develop a hydrothermal mineralisation model for the Esmeralda granite based on work completed by the Bureau of Mineral Resources in 1988 and the recent discovery of the Albany graphite deposit.