Kibaran Resources Ltd. (ASX:KNL) released an upgraded JORC mineral resource for the Tanzania-based Epanko deposit, commenting that it has a total indicated and inferred mineral resource of 22.7 million tonnes grading 9.8-percent total graphitic carbon for 2,223,300 tonnes of contained graphite.
Other highlights include:
- Revised ‘Terms of Reference’ for Scoping Study now targeting up to 40,000tpa of graphite production, however new Mineral Resource estimate capable of targeting 100,000tpa production in the future.
- Total Mineral Resource estimate increased by 47% to include 2,223,300 tonnes of contained graphite.
- Resource grade and tonnage exceeds all known current and historic graphite Mineral Resources in Tanzania
- Resource estimate covers only a small footprint within the 100% owned KNL Epanko prospect –significant potential exists for future resource growth.
Andrew Spinks, executive director at Kibaran, commented:
The Kibaran Board of Directors is extremely pleased with this outcome, as it not only confirms the confidence shown in drilling results released over the past months but has delivered a result over and above our internal expectations. It places Kibaran in good stead to become a key producer and supplier of premium quality graphite to the sophisticated European market and to that end, the Company is now actively pursuing a second off-take agreement for the Epanko project. Kibaran is in discussion with a number of industrial groups in both Europe and North America in this respect.