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Walkabout Resources Ltd.
Summary
| Project: | Lindi | |
|---|---|---|
| Deposit: | Lindi | |
| Location: | Tanzania | |
| Commodities: | Graphite | |
| Date: | 1/10/2017 | |
| Report Code: | JORC | |
| Report Type: | Scoping Study | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 10-1-2017: Walkabout Resources Ltd. announces a Scoping Study report for its Lindi deposit at the Lindi project. Scoping study results incl. pre-tax NPV (10%) of US$169M, IRR of 63%. Emerging African graphite producer Walkabout Resources Ltd (ASX:WKT), (T | |
| Resources: | (Resource, Total): 29.6Mt @ 11.0% TGC for 3.256Mt Graphite contained | |
| CP/QP: | [Resources]: Lauritz Barnes, Aiden Platel, Bianca Manzi, Andrew Cunningham (Trepanier Pty Ltd.;Platel Consulting Pty ltd.;Bianca Manzi Consulting.;Internal) | |
| ABSTRACT: | Emerging African graphite producer Walkabout Resources Ltd (ASX:WKT), (The Company) is pleased to announce the results of a scoping study for a proposed open pit mine and graphite processing plant at the 70% held Lindi Jumbo Graphite Project in south eastern Tanzania. Project economics are highly robust as a result of the high grade nature of the project and the expected premium natural flake graphite product. In January 2016, Walkabout completed a Maiden JORC 2012 Inferred Resource at the Lindi Jumbo Graphite Project in south eastern Tanzania. Currently, The Company holds 70% with an option to acquire 100% of the project at a pre-determined cost. The Resource was recently updated to Measured, Indicated and Inferred1 . The updated Resource contains three discrete high grade zones which present the opportunity for selective, high grade mining. The Company believes the very high grade nature of the Mineral Resource provides a competitive advantage in cost reduction and in metallurgical performance enabling the production of a premium graphite product able to secure premium sales prices in a highly competitive market. As a result of the forecast high growth in demand for natural large-flake graphite and the premium nature of the product produced during test work, the Directors of the Company have elected to fast track the project to production. A definitive feasibility study is currently underway and due for publication during the 1st quarter of 2017. | |
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