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Hexagon Resources Ltd.

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Summary

Project:

McIntosh

Deposit:Emperor, Wahoo
Location:Australia
Commodities:Graphite
Date:2/15/2017
Report Code:JORC
Report Type:Resource Estimation
Project Stage:Pursuing Resource Increase/Upgrade
Report details:15-2-2017: Hexagon Resources Ltd. announces a Resource Estimation report for its Emperor, Wahoo deposit at the McIntosh project. Increase in mineral resources at Emperor and Wahoo deposits. Australian graphite developer Hexagon Resources Limited (ASX: HXG
Resources:(Resource, Total): 20.9Mt @ 4.5% TGC for 940500t Graphite contained at McIntosh
CP/QP:[Resources]: Amy Doherty, Tony Cormack,Shane Tomlinson (Independent;Internal)
ABSTRACT:Australian graphite developer Hexagon Resources Limited (ASX: HXG) is pleased to announce a further increase in the Mineral Resource at its flag ship 100% owned McIntosh Flake Graphite Project located in the East Kimberley of Western Australia to 20.9 million tonnes, marking the culmination of its extensive resource definition drilling programs over the past two years and reinforcing its position as a globally significant flake graphite project. "The 2016 drilling at McIntosh focussed on resource definition drilling at the Emperor and Wahoo deposits for conversion into mineable ore reserves. The Emperor and Wahoo deposits will provide the bulk of the tonnes for the initial stage of mining at McIntosh and underpin the Pre-Feasibility Study for the project. Once the Company is generating revenue from the project, exploration and development efforts will focus on significantly expanding the resource base to support many decades of mining at McIntosh” commented Hexagon’s CEO / Head of Operations, Tony Cormack. The resource upgrade provides further evidence of the continuity of the grade, scale and quality of the deposits at McIntosh to underpin a long-life mining centre, producing a high purity flake graphite concentrate as feed stock for production of high value spherical graphite. The updated resource, which represents a 57% increase in the total indicated resource, now comprises a total of 20.9Mt grading 4.5% TGC for 940,500 tonnes of battery relevant contained graphite.

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