Kibaran Resources releases maiden JORC Resource for Epanko prospect

THE DRILL SERGEANT: Kibaran Resources (ASX: KNL) has announced a Maiden Inferred JORC Mineral Resource for the Epanko prospect, which the company considers to be a key graphite target within its Mahenge graphite project in Tanzania, Africa.

The Resource outperformed internal expectations by measuring in at 14.9 million tonnes at 10.5 per cent total graphitic carbon (TGC), for 1,560,000 tonnes of contained graphite.

Kibaran said the maiden Resource estimate provides it with a sound technical basis to advance the Epanko prospect towards Scoping Study stage.

The company is of the opinion the Mineral Resource estimate is the highest grade graphite resource yet to be delineated in Tanzania.

“Importantly, the Mineral Resource estimate represents only a very small footprint (20 per cent) of the known Epanko project area,” Kibaran Resources said in its ASX announcement.

“As mineralisation remains open in all directions, there is significant potential for further Resource growth.”

 

Epanko deposit showing the area of the Mineral Resource estimate footprint. Source: Company announcement

 

The company explained that recent trenching activity has supported this potential with trenching assays released in May demonstrating near-surface mineralisation extends north along strike, a further 500 metres than what was previously defined.

The results also support the conceptual Exploration Target the company released for the Epanko prospect the previous quarter.

Kibaran indicated the Mineral Resource estimate will be used to underpin a Scoping Study, which will assess the potential viability for the Epanko prospect.

“Subject to the terms of reference for the study, Epanko prospect could support an initial operation producing 20,000 tonnes per annum of high-grade flake graphite, but more importantly could support increased production as future demand for graphite rises,” Kibaran said.