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Graphex Mining Ltd.
Summary
| Project: | Chilalo | |
|---|---|---|
| Deposit: | Shimba | |
| Location: | Tanzania | |
| Commodities: | Graphite | |
| Date: | 11/16/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 16-11-2016: Graphex Mining Ltd. announces an Exploration/Drilling Update report for its Shimba deposit at the Chilalo project. Drilling results incl. 68m @ 6.6% TGC from 50m. Graphex Mining Limited is pleased to report significant assays from the recently | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Nick Corlis (Internal) | |
| ABSTRACT: | Graphex Mining Limited is pleased to report significant assays from the recently completed drilling program at its Chilalo Graphite Project in Tanzania, which will underpin an increase in the Shimba mineral resource estimate. Figure 1 presents a plan view showing the drill hole locations and Figures 2 and 3 show cross sections for both the new zone and the south-west extension of Shimba respectively. Both zones of mineralisation sit within the recently granted mining licence area. The most notable intersection was recorded in hole NRC16-186 where significant widths and high-grade mineralisation were identified (Figure 2). Downhole EM analysis indicates that this mineralisation extends in all directions around the hole which will be important for resource estimation. Work is under way on an updated Shimba mineral resource estimate which is expected to result in an extension to the currently proposed mine life resulting in improved project economics. The close proximity of the new high-grade zone to the Shimba deposit is expected to minimise transport costs from the pit to 2 the proposed plant location and may even result in the zone being incorporated into a larger Shimba pit shell. | |
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