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Walkabout Resources Ltd.
Summary
| Project: | Lindi | |
|---|---|---|
| Deposit: | Gilbert Arc | |
| Location: | Tanzania | |
| Commodities: | Graphite | |
| Date: | 9/27/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 27-9-2016: Walkabout Resources Ltd. announces an Exploration/Drilling Update report for its Gilbert Arc deposit at the Lindi project. Drilling results incl. 43m @ 15.8% TGC from 66m. Perth-based African-focussed energy metals explorer and developer Walkab | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Andrew Cunningham (Internal) | |
| ABSTRACT: | Perth-based African-focussed energy metals explorer and developer Walkabout Resources Ltd (ASX:WKT) is pleased to report the first set of assay results from the recently completed resource upgrade drilling at The Gilbert Arc deposit in south eastern Tanzania. The drill program was focussed along the high grade western flank of the deposit and a resource upgrade is planned for release during October 2016. Managing director of Walkabout Resources, Allan Mulligan commented; “The Lindi Jumbo deposit continues to deliver high grade, Jumbo Flake graphite over wide, mineable intercepts. The high grade nature of the deposit, the wide intercepts and the high ratio of Jumbo Flake will translate into very robust project economics.” Results from the first 7 drillholes were received with the remainder of the samples currently being processed. Walkabout is fast tracking the exploration and development of the Lindi Jumbo Project to take advantage of forecast market conditions for Flake Graphite deposits with high ratios of large and jumbo flakes. The Company has developed a proprietary processing technique which yields exceptionally high ratios of Large (+180µm), Jumbo (+300µm) and Super Jumbo (+500µm) flakes into concentrate. This premium product will allow higher than average revenues to be achieved. The Company currently holds 70% of four licences at Lindi Jumbo with an option to acquire the remaining 30% share. | |
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