Some ‘housekeeping’ in the lead-up to the Axon Graphite spin-out has seen an update in the mineral resource estimate for the Mount Dromedary graphite deposit in North-West Queensland.

Axon Graphite encompasses the merger of the high-grade natural graphite assets of Mount Dromedary owner Novonix and Lithium Energy – which holds the Burke and Corella deposits.

Axon Graphite intends to merge Mount Dromedary and the adjacent Burke deposit into one combined project and construct and operate a battery anode material (BAM) pilot plant.

This would undertake further testwork and optimisation to facilitate the design and development of a vertically integrated BAM manufacturing facility located in Queensland.

After a review, the mineral resource estimate for the Mount Dromedary project stands at 12.7Mt at 14.5 per cent total graphitic carbon (TGC) for a total of 1.83Mt contained graphite (at a 5 per cent TGC cut-off grade).

The adoption of a 5 per cent TGC cut-off grade for the updated Mount Dromedary estimate (previously reported at 4 per cent TGC) is consistent with the cut-off grade adopted for the Burke and Corella mineral resource estimates.

Related: Graphite spin-out plans advancing

Upon the successful completion of Axon Graphite’s IPO and admission to the ASX, Axon Graphite proposes to:

– review existing drilling data and resource models for the Burke and Mount Dromedary deposits to delineate a combined MRE;

– undertake resource development drilling on the Burke and Mount Dromedary tenements to increase and upgrade the combined mineral resource.

The prospectus for the $15 million to $25 million IPO of Axon Graphite is being finalised in preparation for lodgement with ASIC.

You may also like: