The new combined resource totals 3.1 million tonnes grading 12.69% total graphitic carbon for 394,000t of contained graphite at a nominal 5% TGC cut-off grade.

The expectation is for further increases following a summer drilling programs.

In the meantime, additional funding is likely to be sought given Lincoln had about A$1.1 million cash at the end of the June quarter.

Working on both quests will be new CEO Jonathon Trewartha who starts work early next month in place of interim CEO Sam Barden.

Trewartha's CV is said to feature extensive experience in mining, engineering, "entrepreneurship and corporate leadership".

Lincoln recently said it was planning to conduct a "gap analysis" of a 2017 feasibility study at Kookaburra Gully that outlined a potential 10-year operation with a pre-tax net present value of $81 million.