Metals of Africa Releases Maiden Resource for Balama Central

Metals of Africa Ltd. (ASX:MTA) announced a maiden JORC 2012 mineral resource estimate for its Mozambique-based Balama Central graphite project. The project is made up of the Lennox and Byron prospects.
Highlights include:

• Maiden Mineral Resource at Balama Central Project in Mozambique of 16.3Mt at 10.4% TGC and 0.21% V2O5 for 1.7Mt of contained graphite and 34kt V2O5
  • Indicated Mineral Resource: 8.9Mt at 9.3% TGC and 0.16% V2O5
  • Inferred Mineral Resource: 7.4Mt at 11.8% TGC and 0.27% V2O5
• Exploration Target of 43-78Mt at 9-13% TGC also confirmed – highlighting the Project’s upside potential. Maiden resource defined in <4 week drill program.

Cherie Leeden, managing director of Metals of Africa, commented:

Based on a modest but effective four week drill program that was completed using only one drill rig, we have achieved our objective of delineating an attractive high grade Mineral Resource capable of allowing us to progress to a Pre-feasibility Study based on a mine life of at least 10 years. The endowment of high quality graphite within the Cabo Delgado province is further illustrated with our results.
We believe that this province in Mozambique will be responsible for delivering some of the lowest graphite OPEX outcomes in the world, a factor that we consider is what most end users are focused on.
Our flake size and quality is exceptional and both our Balama Central and Montepuez deposits clearly boast the best ratio of large and jumbo flake of all graphite deposits in Mozambique. Large and jumbo flake sells for a premium and gives us optionality with respect to many end users.

Click here to read the full Metals of Africa Ltd. (ASX:MTA) press release.