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Battery Minerals Ltd.
Summary
| Project: | Montepuez | |
|---|---|---|
| Deposit: | Elephant, Buffalo | |
| Location: | Mozambique | |
| Commodities: | Graphite | |
| Date: | 9/25/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 25-9-2018: Battery Minerals Ltd. announces an Exploration/Drilling Update report for its Elephant, Buffalo deposit at the Montepuez project. Drilling results incl. 31m @ 13.97% TGC from 5.0m. Battery Minerals Limited (“Battery Minerals”) (ASX: BAT) is ple | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Jason Livingstone (Internal) | |
| ABSTRACT: | Battery Minerals Limited (“Battery Minerals”) (ASX: BAT) is pleased to announce exceptionally high-grade drilling results which will help underpin an update to a mineral resource and reserve estimate at its Montepuez graphite project in Mozambique scheduled for release in the December 2018 Quarter. The results, which come from the weathered, close to or at surface zone of the Buffalo deposit, highlight the quality of the project’s mineralisation and its ability to be a low-cost producer. The drilling targeted both infill zones and strike extensions to existing high-grade oxide mineralization. The spectacular near-surface intercepts confirm the geological interpretations as well as grade continuity. Battery Minerals Managing Director David Flanagan said most of the holes returned intercepts greater than 4 metres at 10%Total Graphitic Carbon (TGC) or better. “With the drilling now completed across both the Buffalo and Elephant Deposits the team have delivered some spectacular results and confirmed additional mineralisation outside the current reserve estimate and we look forward to updating the mineral resource estimate for Buffalo using this data. We continue to see additional near mine exploration targets available to define more tonnes in due course.” Mr Flanagan said. “When you add this improved confidence to what is already a high-grade, low-cost project with construction well advanced and supported by offtake agreements, a granted Mining Licence and a port access allocation, it is clear that we are very well positioned to deliver an outstanding project. “At the same time, Origin Capital is co-ordinating a team of internationally renowned independent experts and detailed due diligence is being advanced on all aspects of the Montepuez Graphite Project including capital estimates and commissioning and ramp up programmes, mining plan, process flow sheets, financial models, product marketing and taxation. This has also included site and infrastructure inspection. “Combined with the exceptional quality and advanced nature of our projects, we think this will maximise the financing options available to the Company.” | |
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