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An announcement from Lithium Energy Ltd. ( (AU:LEL) ) is now available.
Lithium Energy has reported initial assay results from the first seven reverse circulation drill holes in its ongoing resource upgrade program at the Burke and Mt Dromedary graphite deposits in Queensland. The holes, drilled in the area between the existing deposits and outside current JORC resources, returned significant high-grade graphite intercepts, including intervals above 20% total graphitic carbon.
The in-fill program, which also includes diamond core drilling, aims to confirm continuity of mineralisation between the two deposits and underpin a combined, upgraded and expanded JORC Mineral Resource. With most of the planned RC and diamond holes already completed and further assays due in coming months, the results support the high-grade character of the project and could enhance Lithium Energy’s graphite resource base and development prospects.
The most recent analyst rating on (AU:LEL) stock is a Hold with a A$0.36 price target. To see the full list of analyst forecasts on Lithium Energy Ltd. stock, see the AU:LEL Stock Forecast page.
More about Lithium Energy Ltd.
Lithium Energy Ltd is an ASX-listed resources company focused on high-grade graphite projects in Queensland, particularly the adjacent Burke and Mt Dromedary deposits. The company is pursuing resource expansion and upgrade drilling to support potential development of these graphite assets for battery and advanced materials markets.
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$41.44M
For detailed information about LEL stock, go to TipRanks’ Stock Analysis page.