A potentially significant graphite discovery has been made resulting from a recently completed aircore drill programme conducted at the Thurlga tenement on the Eyre Peninsula by joint ventue partner Investigator Resources Limited.

High grade graphite discovered

The Thurlga Joint Venture (TJV) manager has today released results from a recently completed aircore drill programme. A summary of these results are as follows:

  • A potentially significant graphite discovery has been made.
  • Five holes at the Ironstone prospect encountered substantial graphite, with intersections grading up to 16.5% total graphitic carbon (TGC) in 3-metre composite samples. Four of these holes ended in graphite mineralisation.
  • One hole intersected 30 metres at 10% TGC, a grade comparable to that of established graphite mineral resources on the Eyre Peninsula and elsewhere in the world.
  • Together with historical electomagnetic and drilling data, the results indicate the graphitic units are shallow, up to 500 metres wide, and fall on EM conductors that aggregate 25km in strike length, indicating very substantial resource potential.
  • Anomalous silver and base metals were also intersected.
  • Joint venturer Investigator Resources limited has met its obligation to spend $750,000 and has now earned 75% equity in the Thurlga Joint Venture, which will be formalised.

Andromeda Metals remains focused on advancing the Wudinna Gold Project into production, but welcomes the positive results achieved to date by the TJV. The Company's 25% equity in the graphite discovery potentially represents a valuable additional mineral asset.

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Overview

Andromeda Metals Limited is an Australian Securities Exchange listed company (code: ADN) focusing on mineral exploration for gold, lithium and copper deposits. Andromeda Metals currently has interests in 21 exploration licenses, covering 7,969 sq kms within South Australia, Queensland, Western Australia and the Northern Territory. Andromeda Metals’ vision is to be a sustainable minerals exploration company providing shareholders with risk managed discovery, development and mining opportunities.

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