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Walkabout Resources Ltd.
Summary
| Project: | Lindi | |
|---|---|---|
| Deposit: | Lindi | |
| Location: | Tanzania | |
| Commodities: | Graphite | |
| Date: | 4/4/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Environmental Approval | |
| Report details: | 4-4-2017: Walkabout Resources Ltd. announces a Resource Estimation report for its Lindi deposit at the Lindi project. Initial Ore Reserve for Lindi Jumbo. Walkabout Resources (ASX: WKT) is pleased to announce the maiden Ore Reserve for its high grade Lind | |
| Resources: | (Reserve, P+P): 5.0Mt @16.1% TGC for 809081t graphite contained at project | |
| CP/QP: | [Overall Report]: Clive Brown, Alan Mulligan (Bara Consulting Pty Ltd.;Internal) | |
| ABSTRACT: | Walkabout Resources (ASX: WKT) is pleased to announce the maiden Ore Reserve for its high grade Lindi Jumbo Graphite Project in south eastern Tanzania. The Ore Reserve forms the basis of the recently announced Definitive Feasibility Study (ASX announcement of 7 February 2017) and has been classified in accordance with the 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the “JORC Code”). A DFS was completed by Walkabout Resources for the Lindi Jumbo Project with the study proposing an operation processing an average of 276,000 tonnes per annum to produce 40,000 tonnes of concentrate. The DFS found the project to be economically viable with a robust Internal Rate of Return (IRR) and a payback period of less than two (2) years. The DFS was based on production from Proven and Probable Ore Reserves resulting in a Life of Mine (LOM) of approximately 20 years. The Ore Reserve Estimate was prepared and signed off by Bara International of Johannesburg, South Africa. Executive Director of Walkabout Resources, Allan Mulligan commented; “This Reserve delivers the highest mill feed grade of all the Tanzanian graphite projects and provides the Lindi Jumbo project with a huge technical and financial advantage over other start-up graphite projects.” | |
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