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Walkabout Resources Ltd.
Summary
| Project: | Lindi | |
|---|---|---|
| Deposit: | Lindi | |
| Location: | Tanzania | |
| Commodities: | Graphite | |
| Date: | 12/6/2016 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 6-12-2016: Walkabout Resources Ltd. announces a Resource Estimation report for its Lindi deposit at the Lindi project. Resource increased by 165%. Emerging African graphite producer Walkabout Resources Ltd (ASX:WKT) is pleased to announce an upgra | |
| Resources: | (Resource, Total): 29.6Mt @ 11.0% TGC for 3.26Mt of Graphite contained at project | |
| 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) is pleased to announce an upgraded JORC 2012 Measured, Indicated and Inferred Mineral Resource at the Lindi Jumbo Graphite Project in south eastern Tanzania. The Resource was calculated by Trepanier Pty Ltd, an independent geological consultancy. Technical Director of Walkabout Resources, Andrew Cunningham commented, “The exceptional increase in the size of the Mineral Resource as well as the substantial amount of high grade material in the Measured and Indicated categories will provide an excellent technical platform for the development of the project. The visually distinct, super high grade zones from surface, strongly support the company’s belief that operating costs of the project will be amongst the lowest in the graphite space”. Through a modest infill drilling and trenching program including 24 holes for 1,735m, the high grade Mineral Resource along the western flank of The Gilbert Arc deposit was increased by a spectacular 165% to 29.6 million tonnes at 11.0% TGC containing 3.25 million tonnes of graphite. Forty percent (40%) of the resource is now classified as Measured (6.4 Mt @ 12.2% TGC) and Indicated (5.5 Mt @ 11.0% TGC) containing 1.38 million tonnes of graphite. Domains 7, 8 and 9 which are in excess of 20% TGC across the Measured and Indicated Resource zones are accessible as discrete zones from surface and will facilitate exceptional grade recovery during the production cycle. The intention of the drilling program was to increase the confidence in the resource to allow for the completion and reporting of the feasibility studies. The drilling led to a much better understanding of the geological model with mineralised zones dipping shallower and often wider than the initial interpretation and additional high grade zones intersected in the hanging wall of the deposit (Domain 6). This has resulted in a significant increase of 165% in resource tonnage along the western flank of the deposit with the deposit remaining open down-dip and along strike. | |
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