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We've increased the overall Mineral Resource of our Kookaburra Gully Graphite Project (KGGP) by 87%, making it the second largest graphite resource on the Eyre Peninsula, confirming our strategic position in Australia’s premier graphite province.   The upgrade is driven by the inaugural Mineral Resource Estimate for the Kookaburra Gully South-West Extended of 5.12Mt at 4.86% TGC (Inferred) and 0.58Mt at 7.73% TGC (Indicated) for total of 293,900 tonnes of contained graphite. The overall KGGP contained graphite has increased by 80% to 896,000 tonnes. A significant strike extent remains untested, with the potential for resource growth.   A three-month drill programme will begin, with an updated KGGP Feasibility Study at higher planned throughput due in the second half of CY24.   CEO Jonathon Trewartha commented: “This is an amazing result for Lincoln Minerals at our Kookaburra Gully Graphite Project, with this important upgrade coming from the South-West Extended deposit, clearly demonstrating the significant scale potential of Lincoln’s Kookaburra Gully Graphite Project.   This significant MRE upgrade now positions Lincoln Minerals with the second largest known graphite resource on South Australia’s Eyre Peninsula, underscoring the region’s strategic characteristics, as Australia’s premier graphite province.   I am confident that the addition of this inaugural resource, when combined with the next three months drilling at our high-grade Kookaburra Gully and Koppio Deposits will deliver us a resource to support a potential 10-year life of mine at significantly higher production than the 2017 Feasibility Study, which was based on a production rate of 35Ktpa graphite concentrate, and which yielded a IRR of 33%1.   The resource upgrade provides strong momentum for our plans to commence an update to the Feasibility Study expected to commence mid-2024 and is scheduled for delivery in the second half of 2024.”   Read the full ASX Announcement here: bit.ly/4adPGgm #ASX #ASXNews #MiningNews #graphite #LML #Lincolnminerals

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