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Kibaran Resources Ltd. (ASX:KNL) provided updates on its Merelani and Mahenge graphite projects, both located in Tanzania. “[S]ignificant advances” have been made at both.
Kibaran Resources Ltd. (ASX:KNL) provided updates on its Merelani and Mahenge graphite projects, both located in Tanzania. “[S]ignificant advances” have been made at both.
Merelani update:
The Company has received written confirmation from Richland Resources Limited and its wholly-owned subsidiary, Tanzanite One, accepting the terms offered by Kibaran for the sole graphite rights to the historic Merelani graphite mine. The Company is now finalising a binding agreement for approval by Tanzanite One’s joint venture partner, the State Mining Company (STAMICO).
Update on Epanko deposit at Mahenge:
Ongoing drilling has progressed significantly at Epanko and continues to encounter large flake graphite that is consistent with previous drilling results. A total of 25 holes for 1,900 meters have been completed, samples have been shipped to SGS Laboratory for analysis and first assay results are due mid-late June.
The drill program is scheduled for completion in early-mid June and results will be applied to upgrade a portion of the existing JORC Inferred Mineral Resource of 14.9Mt at 10.5% TGC (total graphitic carbon) for 1,560,000t of contained graphite.
Click here to read the full Kibaran Resources Ltd. (ASX:KNL) press release.