iTech Minerals (ASX: $ITM) Quarterly Activities Report for the period ended 30 June 2024

iTech Minerals Ltd (ASX: $ITM) has released its Quarterly Activities Report for the period ended 30 June 2024. The report highlights a substantial increase in the global Mineral Resource Estimate for the Eyre Peninsula Graphite Project, with a 300% rise to 35.2 Mt at 6.0% total graphitic carbon (TGC). The company's exploration activities at the Reynolds Range Copper-Gold Project in the Northern Territory have also commenced, showing promising potential for copper, gold, and silver mineralisation.

Executive Commentary on Quarterly Activities

It has been a very busy quarter for iTech Minerals with the release of its updated global Mineral Resource Estimate for the Eyre Peninsula Graphite Project and the commencement of exploration of the Company's newly acquired copper and gold project at Reynolds Range in the Northern Territory. While the Company hands over the ongoing development and metallurgical test work of Eyre Peninsula Graphite Project to its consultants, our exploration staff are available to generate near term copper and gold drill targets at Reynolds Range. The widespread scale of copper and gold mineralisation at Reynolds Range over the 70km long tenement package is already producing exciting results.

Summary of Quarterly Activities and Outlook

iTech Minerals has achieved a significant milestone with a 300% increase in the global Mineral Resource Estimate for the Eyre Peninsula Graphite Project, indicating the potential for low-cost mining and processing operations. The company's focus on adding significant new graphite resources with favorable metallurgical properties and geology aligns with its goal of producing battery anode material for the lithium-ion market. Additionally, the commencement of exploration activities at the Reynolds Range Copper-Gold Project has revealed widespread copper and gold mineralisation, offering promising prospects for future drilling targets. With a strong cash position and ongoing fundraising activities, iTech Minerals is well-positioned to continue its operations and meet its business objectives.