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Battery Minerals Ltd.
Summary
| Project: | Montepuez | |
|---|---|---|
| Deposit: | Elephant | |
| Location: | Mozambique | |
| Commodities: | Graphite | |
| Date: | 7/16/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 16-7-2018: Battery Minerals Ltd. announces a Resource Estimation report for its Elephant deposit at the Montepuez project. Updated mineral resource estimate at the Elephant deposit. Battery Minerals Limited (ASX: BAT) is pleased to advise that its strateg | |
| Resources: | (Resource, total): 76.9Mt @ 7.3% TGC for 5620Kt graphite contained | |
| CP/QP: | [Resources]: Shaun Searle (Ashmore Advisory Pty Ltd.) | |
| ABSTRACT: | Battery Minerals Limited (ASX: BAT) is pleased to advise that its strategy to grow the inventory at its Montepuez Graphite Project in Mozambique is delivering results, with a 14 per cent increase in Mineral Resources at the Elephant deposit, taking the estimate to 76Mt at 7.3% TGC. As part of the Mineral Resource update, the total Measured and Indicated Mineral Resource (at a 6% TGC cut-off) has seen the TGC grade increase from 8.9% in the December 2016 estimate to 9.3% TGC. The total Mineral Resource, at a 2.5% TGC cut-off, has increased by 9.7Mt to 76.9Mt at 7.3% TGC grade. The Mineral Resource was estimated by independent mining consultants RPM Advisory Services Pty Ltd (“RPM”). Furthermore, encouraging observations have been made at the newly discovered Warthog prospect. Warthog is located 1.5km South of Elephant and based on a previously reported intercept of 12m at 14.27% TGC from 1m down-hole in EL258A. Follow up drilling has confirmed geological alteration continues down dip and along strike for more than 500m. While assays from follow-up drilling are pending, Figure 4 illustrates an example of the large flake sizes observed. The Warthog prospect is open at depth and along strike. Battery Minerals Managing Director David Flanagan said: “These results underpin our view that there is potential for substantial growth in the inventory, forecast production rates and mine life at Montepuez. “We are confident that we will also continue to increase the run-of-mine grade, which would reduce costs and increase revenues due to the increased tonnages of concentrate we would produce. | |
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