Minbrie Copper-Zinc Discovery and Kookaburra Graphite Boost Lincoln’s Valuation

Strategic Positioning in Critical Minerals

Lincoln Minerals (ASX:LML) is making decisive strides in advancing its portfolio of critical minerals projects located in South Australia's highly prospective Gawler Craton. With a focus on copper, uranium, graphite, and high-purity iron, the company is positioning itself to capitalize on the accelerating global megatrends of electrification and decarbonization.

The Gawler Craton is renowned for its rich mineral endowment, hosting a significant share of Australia's copper, uranium, and graphite resources. Lincoln's projects benefit from proximity to established infrastructure, including ports, power, and water, as well as supportive government policies aimed at fostering green steel and critical minerals development.

Copper-Zinc Discovery at Minbrie

One of the standout developments is the Minbrie Project, where Lincoln has identified a mineralised system with multiple sulphide zones extending over a 7-kilometre strike. Historic drilling revealed a discovery hole intersecting 29.5 metres grading 0.8% copper, 7.5% lead, 1.9% zinc, and 9 g/t silver, with follow-up assays confirming high-grade zones within this interval.

Remarkably, 85% of historic holes did not reach the target depth, and many were not assayed for base metals, indicating substantial exploration upside. Lincoln is now relogging core, conducting new assays, and preparing for drilling campaigns to validate and expand this discovery, potentially unlocking a significant copper-zinc resource in a region with established mining activity.

Kookaburra Graphite Project: Robust Economics and First-Mover Advantage

The Kookaburra Graphite Project is advancing towards production with compelling financial metrics. The updated pre-feasibility study (PFS) reports a pre-tax net present value (NPV10) of A$114 million and an internal rate of return (IRR) of 41%, supported by a modest start-up capital requirement of A$29 million.

With ultra-high-grade surface graphite, an existing mining lease, and proximity to infrastructure, Kookaburra is well positioned to capture market share as demand for graphite in battery and steelmaking applications grows. The project’s low operating costs and staged development approach provide resilience through commodity price cycles.

Green Iron Project: Unlocking South Australia's Best Undeveloped Magnetite

Lincoln's Green Iron Project boasts a 1.2 billion tonne magnetite resource grading 26% Fe, upgradeable to over 68% Fe concentrate suitable for direct reduction iron (DRI) processes. Located on the Eyre Peninsula, the project benefits from proximity to multiple port options and a high-capacity transmission line connected to South Australia's renewable energy grid.

With global demand rising for high-purity iron to produce low-carbon steel, Lincoln is advancing feasibility studies and approvals, aiming for a phased development targeting over 6 million tonnes per annum of concentrate. The project aligns closely with the South Australian Government’s Green Steel Strategy, enhancing its strategic value.

Uranium Exploration in a Premier Province

Lincoln’s uranium portfolio spans multiple highly prospective tenements within South Australia’s leading uranium province, often dubbed the 'Saudi Arabia of uranium.' Historic drilling has intersected uranium grades up to 570 ppm, with recent surface sampling confirming high-grade mineralisation at targets like Eridani and Yallunda.

The company is progressing exploration with advanced geophysical surveys, soil sampling, and planned drilling campaigns, aiming to unlock value in a market where uranium demand is expected to grow due to nuclear energy’s role in clean power generation.

Market-Driven Strategy and Value Creation

Lincoln Minerals adopts a strategic, market-driven approach to portfolio management, prioritising projects based on market demand, funding potential, and commercialisation pathways. The company is actively seeking strategic partnerships and alternative funding mechanisms to accelerate project timelines while minimising equity dilution.

With over A$100 million of historical exploration and feasibility data leveraged across its projects, Lincoln is well placed to advance its assets efficiently. The company’s management team, led by CEO Jonathon Trewartha, brings extensive experience in mining development and corporate strategy, underpinning confidence in delivering shareholder value.