Lincoln Minerals steps closer to next graphite mine

South Australia will see a second graphite mine open in 2016, government permissions pending.

Lincoln Minerals expects to begin mine construction in early 2016, with graphite production to commence before the end of June 2016.

With the mining lease application lodged in February 2015, Lincoln Minerals managing director John Parker said the company expects a six month turnaround with a month of delay, which should lead to approval in October, followed by a Program for Environmental Protection and Rehab (PEPR) which will take another three months for clearance.

Kookaburra Mine has been described as a premier graphite deposit, with indicated and inferred resources of 2.2 million tonnes with a Total Graphitic Carbon average of 15.1 per cent.

Fully owned Lincoln Minerals subsidiary Australian Graphite is expected to produce more than 25,000 tonnes of high purity graphite (>93 per cent TGC) in calendar year 2016.

Archer Exploration is also expected to set up a third graphite mine on the Eyre Peninsula next year, but will not lodge their mining lease application until September this year.

Lincoln Minerals has reported cash holdings of $1.19 million in the March Quarter, representing adequate funding to continue through the next nine months until mine construction.

Lincoln recently formed a partnership with Monash University to participate in an international graphene research project which involves Guangdong University of Technology, as well as a major Chinese electronic component producer.

The South Australian government has approved a PACE grant for Lincoln Minerals to undertake drilling at the Kookaburra Gully Extended exploration target, a previously undrilled which will fund 50 per cent of the anticipated drilling costs.

Lincoln have also expressed a long term vision for the nearby Koppio Hills graphite deposit, which is expected to accelerate further exploration of potential graphite deposits in the area.

Lincoln has a number of other exploration tenements for iron ore, uranium, copper, lead, zinc and silver, however no other significant exploration work was undertaken in the last quarter due to the company focus on Kookaburra Gully.

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