Lincoln Minerals extends high-grade graphite mineralisation at Kookaburra Gully

Lincoln Minerals (ASX: $LML) has announced the extension of high-grade graphite mineralisation at Kookaburra Gully, part of its Kookaburra Graphite Project in South Australia. The recent drilling program has confirmed multiple high-grade graphite intercepts, extending the mineralisation to the north, both at surface and downdip. Notable intercepts include 24m @ 16.8% TGC from 1m, 29m @ 11.3% TGC from 5m, and 3m @ 30.5% TGC from 80m. The company anticipates a significant increase in the known Mineral Resource inventory, with an updated estimation expected next month, which is likely to enhance the project's economics.

Executive Commentary on Kookaburra Gully Drilling Results

Lincoln CEO Jonathon Trewartha expressed satisfaction with the high-grade graphite results, stating, 'These exceptionally high-grade graphite results from drilling at Kookaburra Gully confirm our confidence in rapidly developing what is already the second largest graphite resource on Eyre Peninsula. The exceptionally high-grade mineralisation at surface positions us well to be in the lower quartile of the cost-curve once the Pre-Feasibility Study is updated in Q4 of this calendar year.' Trewartha also highlighted the potential for further exploration at Kookaburra Gully, emphasizing the company's confidence in the project's future prospects.

Summary of Kookaburra Gully Drilling Program

The recent drilling program at Kookaburra Gully has extended high-grade graphite mineralisation to the north, with notable intercepts at shallow depths. The confirmation of strong correlation between graphite mineralisation and previously identified ground EM anomalies is expected to support future exploration. The company anticipates a significant increase in the known Mineral Resource inventory, with an updated estimation due in April 2024. Lincoln Minerals plans further resource definition drilling in the second half of 2024, aiming to explore the northern portion of the Kookaburra Gully mineralisation and conduct follow-up RC drilling to the northwest. The company's CEO expressed confidence in the project's potential and highlighted the expected positive impact on the project's economics.