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Volt Resources Ltd.
Summary
| Project: | Namangale | |
|---|---|---|
| Deposit: | Namangale | |
| Location: | Tanzania | |
| Commodities: | Graphite | |
| Date: | 10/12/2016 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 12-10-2016: Volt Resources Ltd. announces a Resource Estimation report for its Namangale deposit at the Namangale project. Updated mineral resource estimate by 108%, North also upgraded to 'measured'. Volt Resources Limited (ASX: VRC) (“Volt” or the “Comp | |
| Resources: | (Resource, total): 446.2Mt @ 5.0TGC | |
| CP/QP: | [Resources]: Matt Bull, Mark Biggs (Internal;ROM Resources Pty Ltd.) | |
| ABSTRACT: | Volt Resources Limited (ASX: VRC) (“Volt” or the “Company”) is delighted to announce that finalised resource modelling, following the completion of the 2016 drilling campaign, has confirmed a substantial 108% increase in the Mineral Resource Estimate across the Namangale North and South deposits to 446.2Mt @ 5.01% TGC from 214.4Mt @ 5.1% TGC. Compared with peers in Tanzania, the Board believes Volt now has the largest resource estimated to the standard of the 2012 JORC Code, containing high quality natural flake graphite (Figure 1). The enlarged resource size – 446.2Mt @ 5.01% TGC – will facilitate leveraging and scaling up planned mining operations, which are presently slated to commence in 2018. 37% of the tonnes in the Mineral Resource Estimate is classified in the Measured or Indicated resource categories, highlighting a significant increase in resource confidence compared to the previously reported Mineral Resource Estimate. Contained graphite for the Mineral Resource Estimate has increased to 22.3Mt compared with 10.9Mt previously. With over a dozen lithium-ion battery manufactures articulating expansion plans (Figure 2), more clarity is flowing through on likely forward demand for spherical graphite. Based on Deutsche Bank’s recent analysis, global lithium-ion battery capacity could expand circa 200GWh by 2020; this implies incremental annual spherical graphite demand of at least 400,000 tonnes. If this is all naturally sourced graphite flake concentrate (not synthetic), then assuming a yield of 50% an additional 800,000 tonnes will be required. Given the total amount of graphite produced in 2015 was circa 2Mt (50% synthetic / 50% natural), this represents a 40% increase (80% if just based on naturally sourced product only). | |
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