Intersections include 21.05 metres at 9.28% total graphitic carbon (TGC) from 171.25 metres, 17.1 metres at 8.54% TGC from 148 metres, and 17.2 metres at 5.05% TGC from 234.1 metres.
Notably, all holes drilled to date show excellent correlation with a highly conductive source positioned below the existing holes.
Exploration Target estimated
An Exploration Target has been estimated for Yeltana of between 24.5 million and 59 million tonnes grading between 5.5% and 10.2% TGC.
Further work is planned to advance the understanding of this mineralisation and its value, including graphite flake size distribution.
The Yeltana Graphite Prospect is located 40 kilometres north-northwest of Kimba, on the northern Eyre Peninsula in South Australia.
Commercial viability to be determined
Following the definition of a sizeable Exploration Target at the Yeltana, Alliance will engage graphite industry experts to help it assess the commercial viability of any potential development.
This will initially consist of preliminary metallurgical test work and if warranted, development of a systematic exploration drilling and metallurgical testing program to define an appropriately sized JORC resource estimate.
Assessment of the economic potential of Yeltana will occur in parallel with the development of the Weednanna gold deposit, which is located only 20 kilometres to the east.
Tyranna owns 24.99% in the Wilcherry Project Joint Venture with Alliance who holds 75.01% and is the project’s operator.