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Kibaran Resources Ltd.
Summary
| Project: | Epanko | |
|---|---|---|
| Deposit: | Epanko | |
| Location: | Tanzania | |
| Commodities: | Graphite | |
| Date: | 3/31/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Mine Development | |
| Report details: | 31-3-2017: Kibaran Resources Ltd. announces a Resource Estimation report for its Epanko deposit at the Epanko project. Resource estimate update + new drilling results incl. 62.38m @ 11.9% TGC from 99m. Kibaran Resources (ASX:KNL) is pleased to report an u | |
| Resources: | (Resource, Total): 30.7Mt @ 9.9% TGC for 3.049Mt graphite contained at project | |
| CP/QP: | [Resources]: David Williams (CSA Global Pty Ltd.) | |
| ABSTRACT: | Kibaran Resources (ASX:KNL) is pleased to report an upgraded Mineral Resource estimate for its Epanko Graphite Project in Tanzania. The upgraded Mineral Resource delivers a significant 40% increase over the Mineral Resource estimate previously announced in 2015. The upgraded Mineral Resource estimate incorporates infill and extensional drilling completed in 2016 and geotechnical inputs generated as part of the updated base case Bankable Feasibility Study (‘BFS’) of 40,000 tonnes per annum over a 25 year LOM including a 60,000 tonnes per annum scenario. The updated BFS is being completed to meet Equator Principles and the IFC Environmental and Social Performance Standards and currently subject to an independent technical review for Kibaran’s funding partners (KfW IPEXBank and Nedbank) advanced due diligence. The Mineral Resource is a significant increase from the previously announced Mineral Resource estimate in 2015. The Mineral Resource upgrade is based on the increased confidence in the geological model gained from results of extensive infill and extensional drilling and associated technical work as part of the upgraded and expanded BFS. The Mineral Resource is wholly contained within a graphitic schist unit, with barren gneissic rock units in the hanging wall and footwall to the graphitic schist unit. The 7,734m drilling campaign completed in 2016 confirmed both the continuity of graphitic mineralisation within the June 2015 resource envelope and allowed the new resource envelope to be extended 500m to the south in the Western Zone. | |
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