ASX-listed Quantum Graphite has provided a solid boost to its graphite resources on the Eyre Peninsula in South Australia. Recent drilling near its 6.3 million tonne Uley 2 resource grading 11.1 percent total graphite content, or “TGC”, has now defined an additional 0.9 Mt ranging from 6.6% TGC at its Newly delimited Uley 3 deposit. Mineralization at Uley 3 remains open at depth and laterally in two directions, according to the company.
The two fields now combine for a significant volume of 7.2 Mt at 10.5% TGC for some 757,000 tonnes of contained TGC.
Quantum says the first resource at Uley 3 confirms continued mineralization east of Uley 2.
Drilling at Uley 3 targeted a previously identified geophysical anomaly known as the “East Conductor”. The new Uley 3 resource lies along the northbound direction from drilling undertaken in 2015 along the east conductor.
According to the company, geophysical survey data and in-depth structural information from the 2015 borehole was a key factor in determining the locations of the boreholes that delineated the Uley 3 resource.
Drill results from the Uley 3 resource drill include 10.7 meters grading 12.8% TGC, 7.5 m at 10.0% TGC and 4.5 m at 12.4% TGC.
Quantum used geophysical conductive anomalies, such as the eastern conductor, as a guide to locate potential graphite mineralization on its 100% owned land property. The successful drilling at Uley 3 appears to validate the company’s exploration model.
Both Uley 2 and Uley 3 lie at the northern end of Quantum’s territory along a main electromagnetic target defined by the company – the “Uley Horseshoe Structure”.
Quantum says the structure is one of many “mineralized lenses” identified across its area through regional and local geology and interpretation of key data, including surface electromagnetic conductivity and total magnetic intensity data. .
Stronger geophysical responses are a key cog in locating high-grade mineralized zones and an effective method for designing drill programs to confirm the presence of conductive graphite layers, according to the company.
Oddly enough, Quantum appears to have identified several other primary electromagnetic targets on its land property, some of which appear larger than Uley’s horseshoe structure.
A recent research report from the International Energy Agency, an independent energy policy advisor to governments around the world, concluded that by 2040, demand for graphite could, incredibly, climb to 2,500 % as the world moves towards a clean energy future.
Quantum already has plenty of graphite at Uley 2 and Uley 3 and with several priority targets to test, the Melbourne-based explorer could end up with even more.
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