Explanation:
Graphite is a form of carbon that is made up of a two-dimensional layer of carbon atoms arranged in a hexagonal lattice. Each carbon atom in the lattice is covalently bonded to three other carbon atoms, forming strong covalent bonds. The remaining electron on each carbon atom is delocalized, meaning it is not confined to a specific bond or atom but is instead spread out over the entire structure.

Structure of Graphite:
- Graphite consists of layers of carbon atoms arranged in a hexagonal lattice.
- Each carbon atom is covalently bonded to three other carbon atoms in the same layer, forming strong sigma bonds.
- These sigma bonds create a planar structure with a high degree of electron delocalization.

Delocalization of electrons:
- The fourth valence electron of each carbon atom in graphite is not involved in bonding and is instead delocalized.
- This electron is located in the p-orbital, which is perpendicular to the plane of the carbon atoms.
- Due to the overlapping of these p-orbitals, the delocalized electrons can move freely throughout the entire structure of graphite.
- This delocalization gives graphite its unique properties, such as electrical conductivity and lubricity.

Properties of delocalized electrons in graphite:
- Electrical conductivity: The delocalized electrons in graphite can move freely, allowing for the flow of electrical current.
- Lubricity: The delocalized electrons form weak intermolecular forces between the layers of graphite, making it slippery and an effective lubricant.
- Thermal conductivity: The delocalized electrons also contribute to the high thermal conductivity of graphite.

Conclusion:
In graphite, the valence electrons are not localized on each carbon atom or in anti-bonding orbitals. Instead, they are delocalized and spread out over the entire structure of graphite. This delocalization of electrons gives graphite its unique properties and makes it an important material in various applications.