Lamboo Resources (ASX:LMB) has announced more drill results from its McIntosh graphite project in Western Australia. Of interest are the intercepts of 27 meters grading almost 5.5% graphite starting on surface and 66 meters at just over 4% graphite starting close to surface. These drill intercepts further validate the potential of the McIntosh graphite project and bode very well for an update of the resource estimate which is due shortly. The Lamboo management thinks this resource estimate will underpin a mine life of approximately 20 years.
As the project is located in the northern part of Western Australia, access to ports will be easy and the graphite from its McIntosh project will have a huge shipping advantage to ship the graphite to potential Asian end-buyers compared to graphite projects in Ontario or Québec.
On top of that, there’s additional exploration potential as Lamboo’s ‘Target 1’ is still open in all directions and Targets 5 and 6 are still open at depth.
> Click here to read the press release
Disclosure: The author holds no position in Lamboo Resources. Please see our disclaimer for current positions.
