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Walkabout Resources Ltd.
Summary
| Project: | Lindi | |
|---|---|---|
| Deposit: | Lindi Jumbo | |
| Location: | Tanzania | |
| Commodities: | Graphite | |
| Date: | 11/5/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Mine Development | |
| Report details: | 5-11-2018: Walkabout Resources Ltd. announces an Exploration/Drilling Update report for its Lindi Jumbo deposit at the Lindi project. Drilling results incl. 23.0m @ 15.6% TGC from 7m. Walkabout Resources Ltd (ASX:WKT) is pleased to report that Northern Bl | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Andrew Cunningham (Internal) | |
| ABSTRACT: | Walkabout Resources Ltd (ASX:WKT) is pleased to report that Northern Block drilling and trenching assay results now confirm that high-grade graphite domains continue for 300m to the northeast, and remain open at its 100% owned Lindi Jumbo Graphite Project in Tanzania. Executive Chairman of Walkabout Trevor Benson commented; “These results easily demonstrate that Lindi Jumbo remains the highest grade, lowest risk graphite project around. The high-grade nature of the deposit gives the mine a huge advantage in mitigating start-up risks that face new mine operations. The upcoming upgrade of the Mineral Resource should have a positive knock-on effect on the initial mine plan and LOM economics of the project further supporting the Lindi Jumbo Graphite Project as the most significant graphite Project ready for development”. Seven trenches for 654m were excavated on lines between 100 and 130m apart. The trenching program complimented the drilling program perfectly as it delivered invaluable information on the mining conditions (topsoil cover, weathering profile i.e. “free-dig” or saprolitic portion of the resource area) within the start-up years, as well as providing the proof of concept of the continuation of the very high-grade portions of the deposit along strike and to at, or near surface. The planned addition of this area to the upgraded Mineral Resource and possible Ore Reserve could have positive knock-on effects to the upfront capital expenditure and early operational expenditure. The closer proximity to the plant could lead to possible improvements to the operating costs of the operation within the initial years of production. | |
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