LE Minerals’ subsidiary, Axon Graphite Limited, is focused on developing a vertically integrated Battery Anode Material (BAM) business in Queensland, Australia. The operation will consist of a BAM Manufacturing Facility to be located in Queensland, Australia, and is supported by multiple high-grade graphite deposits – Burke/Mt Dromedary and Corella.
The BAM Strategy
BAM Manufacturing Facility
- Shaping and spheronising testwork successfully produced two industry standard products.
- Overall spheronising recovery >60% achieved.
- Highly purified SPG >99.95%TGC, using environmentally safe, non-hydrofluoric acid purification process achieved.
- Unpurified, spherical graphite from Burke deposit achieved electrical capacities of 344 – 356 mAh/g.
- Bagged product will be exported in containers from the Townsville port.
- USA, Japan, EU, India and Korea will be the target consumer destinations.
Note: Product 2 recovery is 24.3% of the 47.7% non-recovered material from
Product 1, which is equal to an overall recovery
Graphite Inventory
The Company has a total Graphite Inventory (across the Burke, Mt Dromedary and Corella Graphite Deposits) of over 4Mt of contained graphite, with all both deposits open at depth and along strike.
Burke Graphite Deposit
Testwork on Burke Graphite has confirmed:
- Burke graphite is suitable as feedstock for the Li-ion battery anode making process.
- Flake concentrate of purity in excess of 95% TGC, with recoveries of >85% can be produced using a standard flotation process.1
Burke Graphite Deposit JORC Mineral Resource
- Total Mineral Resource of 9.1Mt at 14.4% Total Graphitic Carbon (TGC) for a total of 1.3Mt contained graphite (at a 5% TGC cut-off grade), comprising:
- Indicated Mineral Resource of 4.5Mt at 14.7% TGC for 670kt of contained graphite; and
- Inferred Mineral Resource of 4.5Mt at 14.2% TGC for 640kt of contained graphite.
- Within the mineralisation envelope there is included a higher grade Total Mineral Resource of 7.1Mt at 16.2% TGC for 1.1Mt of contained graphite (at a 10% TGC cut-off grade).
| Mineral Resource Category | Weathering State | Resource (Mt) | Total Graphitic Carbon (TGC) (%) | Contained Graphite (kt) |
|---|---|---|---|---|
| Indicated Mineral Resource | Weathered | 0.2 | 12.5 | 30 |
| Primary | 4.3 | 14.8 | 640 | |
| Sub-total | 4.5 | 14.7 | 670 | |
| Inferred Mineral Resource | Weathered | 0.1 | 8.1 | 10 |
| Primary | 4.4 | 14.4 | 630 | |
| Sub-total | 4.5 | 14.2 | 640 | |
| Total Indicated and Inferred Mineral Resource | Weathered | 0.3 | 11.1 | 40 |
| Primary | 8.7 | 14.6 | 1,270 | |
| Total | 9.1 | 14.4 | 1,310 |
Notes
- Mineral Resource estimates are reported above a cut-off grade of 5% TGC; Mineral Resources reported on a dry in-situ basis; Totals may differ due to rounding.
- For further details, refer to ASX Announcement 5 April 2023 – Burke Graphite Mineral Resource Upgrade Delivers Significant Increases in Size and Confidence.
Mt Dromedary Graphite Deposit
The Mt Dromedary Deposit has the following Mineral Resources Estimate:
- Total Mineral Resource of 12.7Mt at 14.5% TGC for a total of 1.83Mt contained graphite (at a 5% TGC cut-off grade), comprising:
- Indicated Mineral Resource of 8.3Mt at 15.2% TGC for 1,260kt of contained graphite; and
- Inferred Mineral Resource of 4.3Mt at 13.2% TGC for 570kt of contained graphite; and
- within the mineralisation envelope, there is included a higher grade Total Mineral Resource of 8.5Mt at 18.4% TGC for 1.56Mt of contained graphite (at a 10% TGC cut-off grade).
| Mineral Resource Category | Weathering State | Resource (Mt) | Total Graphitic Carbon (TGC) (%) | Contained Graphite (kt) |
|---|---|---|---|---|
| Indicated Mineral Resource | Weathered | 1.5 | 14.8 | 230 |
| Primary | 6.8 | 15.2 | 1,030 | |
| Sub-total | 8.3 | 15.2 | 1,260 | |
| Inferred Mineral Resource | Weathered | 0.3 | 11.8 | 30 |
| Primary | 4.1 | 13.3 | 540 | |
| Sub-total | 4.3 | 13.2 | 570 | |
| Total Indicated and Inferred Mineral Resource | Weathered | 1.8 | 14.3 | 260 |
| Primary | 10.8 | 14.5 | 1,570 | |
| Total | 12.7 | 14.5 | 1,830 |
Notes
- Mineral Resource estimates are reported above a cut-off grade of 5% TGC; Mineral Resources reported on a dry in-situ basis; totals may differ due to rounding.
- For further details, refer to the Company’s joint ASX Announcement with NVX dated 10 September 2024: Axon Graphite Limited Update – Mt Dromedary Graphite Mineral Resources Review.
Corella Graphite Deposit
Corella Graphite Deposit JORC Mineral Resource
- Inferred Mineral Resource delivers 13.5Mt at 9.5% TGC for 1.3Mt contained graphite (at a 5% TGC cut-off grade).
- Within the mineralisation envelope, there is included a higher grade Inferred Mineral Resource of 4.5Mt at 12.7% TGC for 0.57Mt of contained graphite (at a 10% TGC cut-off grade).
| Mineral Resource Category | Weathering State | Resource (Mt) | Total Graphitic Carbon (TGC) (%) | Contained Graphite (kt) |
|---|---|---|---|---|
| Inferred Mineral Resource | Weathered | 4.5 | 9.7 | 440 |
| Primary | 9.0 | 9.3 | 840 | |
| Total | 13.5 | 9.5 | 1,280 |
Notes
- Mineral Resource estimates are reported above a cut-off grade of 5% TGC; Mineral Resources reported on a dry in-situ basis; Totals may differ due to rounding.
- For further details, refer to ASX Announcement 16 June 2023 – Maiden Corella Graphite Mineral Resource Delivers Doubling of Graphite Inventory.
Footnotes
- ASX Announcement 24 May 2023 – Excellent Metallurgical Testwork Results at Burke Graphite Project Pave Way for Commencement of PFS ↩︎
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