Lincoln Minerals Sets Sights on Tier 1 Status with Kookaburra Graphite Project Expansion

Lincoln’s CEO, Jonathon Trewartha, stated, “The new management team’s review of the existing Exploration Targets at the KGP has clearly confirmed that resource drilling outcomes achieved are comparing favourably with the Company’s Exploration Targets. The KGP has demonstrated its potential for significant scalability, with potential to be a world-class graphite project, with product quality similar to neighbouring projects. We have now added a further five previously unclassified graphite occurrences within the Project area.

“We are pleased to have declared these updated Exploration Targets across the KGP and look forward to commencing further exploration to expand known mineralisation and test the potential of these new occurrences as we continue to work towards development of the KGP, and across our expansive tenement holding on South Australia’s Eyre Peninsula, which has proven to be Australia’s premier graphite province. An updated Feasibility Study for the project is on track for delivery later this year.”

The announcement details plans for further drilling in 2024, aimed at extending known mineralisation and testing new targets. Recent drilling has already identified flat-lying, near-surface mineralisation, offering promising indications of the project’s potential scale and economic viability. With the exploration targets now broadly set between 6Mt and 126Mt at varying TGC grades, Lincoln’s strategic focus shifts towards validating these targets with further drilling results expected in March 2024.

Lincoln’s expanded exploration targets on the Eyre Peninsula are a testament to the region’s untapped potential and Lincoln’s strategic approach to exploration and development. As the company progresses towards a detailed feasibility study expected in the second half of 2024, the focus remains on extending known mineralisation and testing new step-out targets, with the aim of confirming the KGP’s status as an attractive Tier 1 graphite project.

Graphite, known for its essential role in high-tech applications including lithium-ion batteries and fuel cells, is increasingly in demand as the world shifts towards greener energy solutions. The exploration update from Lincoln is timely, as global demand for high-quality graphite continues to surge, driven by the electrification of transport and the expansion of renewable energy technologies.

Lincoln Minerals had a market cap of $10.2M at time of writing, with a cash holding of $1.6M at last quarterly (Q42023).

In conclusion, Lincoln Minerals’ latest exploration update not only reaffirms the KGP’s potential to host a significant graphite deposit but also highlights the strategic importance of the Eyre Peninsula as a player in the graphite market.