Kookaburra Graphite Project
Lincoln’s flagship project, Kookaburra Graphite Project, is 35km north of Port Lincoln on South Australia’s Eyre Peninsula.
The Kookaburra Graphite Project has been assessed to contain Measured, Indicated and Inferred Resources of 12.8Mt at 7.6% TGC. (refer ASX release: 15 April 2024).
The Kookaburra Graphite Project area includes:
- The Kookaburra Gully Graphite Deposit
- The historic Koppio Graphite Mine and associated deposit
- The Kookaburra Gully Extended (KGE) Prospects
The April 2024 MRE includes holes drilled in 2017 after Lincoln’s 2017 MRE was announced. Twenty-five (25) holes for 2,110m were drilled in 2017 which were not included in the MRE announced on 17th May 2017.
Lincoln completed an additional 26 holes for 2569m over December 2023-January 2024 in the northeast portion of ML6460. Eight holes within the boundaries of the designed pit intersected high-grade graphite and were included in the upgraded MRE for Kookaburra Gully.
Kookaburra Graphite Deposit
The Kookaburra Gully Graphite Deposit is the key asset in Lincoln’s Kookaburra Graphite Project.
Following electromagnetic (EM) surveys flown over the Koppio and Cockabidnie-Campoona areas in July 2012, resource definition drilling was completed over the Kookaburra Gully graphite deposit in January 2013 with aircore drilling on an 80m x 40m grid spacing. Establishing the Mineral Resource at Kookaburra Gully has given confidence in mapping the Kookaburra Gully Extended Prospects that are along trend and confirm with the EM anomaly as shown in Figure 1.
Table 1: Measured, Indicated and Inferred Resource for Kookaburra Gully SW Extended above 2% TGC cut-off
| Category | Tonnes (mt) | TGC (%) | Density (t/m3) | Contained Graphite (t) |
|---|---|---|---|---|
| Measured | 1.00 | 11.77 | 2.53 | 118,000 |
| Indicated | 1.44 | 11.73 | 2.51 | 169,000 |
| Inferred | 1.07 | 11.66 | 2.50 | 125,000 |
| TOTAL M+I+I | 3.51 | 11.72 | 2.51 | 412,000 |
Table 2: Kookaburra Gully total Mineral Resources
| Cut-off Grade (% TGC) | Tonnage (Mt) | Average Grade (% TGC) | Contained Graphite (kt) | Density (g/cc) | |
|---|---|---|---|---|---|
| MEASURED and INDICATED MINERAL RESOURCE ESTIMATES | |||||
| KOOKABURRA GULLY | |||||
| Measured | 2% | 1.00 | 11.77 | 118 | 2.53 |
| Indicated | 2% | 1.44 | 11.73 | 169 | 2.51 |
| Inferred | 2% | 1.07 | 11.66 | 125 | 2.50 |
| SUB TOTAL KG MEASURED + INDICATED + INFERRED | 2% | 3.51 | 11.72 | 412 | 2.51 |
| KOPPIO | |||||
| Indicated | 2% | 2.84 | 7.53 | 214 | 2.74 |
| Inferred | 2% | 0.79 | 6.72 | 53 | 2.70 |
| SUB TOTAL KP INDICATED + INFERRED | 2% | 3.63 | 3.63 | 267 | 2.72 |
| KOOKABURRA GULLY EXTENDED | |||||
| Indicated | 2% | 0.58 | 7.73 | 45 | 2.61 |
| Inferred | 2% | 5.12 | 4.86 | 249 | 2.64 |
| SUB TOTAL KGE INDICATED + INFERRED2 | 2% | 5.70 | 5.15 | 294 | 2.63 |
| COMBINED TOTAL MEASURED + INDICATED + INFERRED | 2% | 12.84 | 7.57 | 973 | 2.60 |
The maiden Mineral Resources estimated in accordance with JORC Code (2012) at Kookaburra Gully reinforces Lincoln’s confidence in being able to quickly progress the Company’s graphite resources on southern Eyre Peninsula into a high-quality, long life graphite mining and processing operation.
Kookaburra Gully Metallurgy
Metallurgic bench-scale testing of representative bulk drill and trench samples from the Kookaburra Gully Graphite deposit were undertaken in 2017. Kookaburra Gully is a flake graphite with predominantly fine flakes as shown in Table 3. This table also shows the primary use of the various flake sizes with these fine flakes being in demand for use as anodes in Lithium-ion batteries.
Table 3: Graphite Deposits
