Perth, Australia (ABN Newswire) -
Kibaran Resources Ltd. (ASX:KNL) is pleased to report the second group of assay results from the recent Reverse Circulation (RC) drill programme at its Epanko deposit within the Mahenge Graphite Project in Tanzania.
The consistency of the latest results continues to confirm a significant portion of graphite mineralisation is at surface, with mineralisation remaining open in all directions (refer figure 1 and figure 2 in link below)
Significant RC results include;
34m at 8.2% TGC from surface (MHRC037), including;
- 21m at 9.6% TGC
96m at 6.2% TGC from surface (MHRC039), including;
- 18m at 10.4% TGC
- 32m at 7.2% TGC
41m at 7.8% TGC from surface (MHRC039), including;
- 7m at 10.4% TGC
- 4m at 9.8% TGC
- 9m at 8.4% TGC
[Full results are outlined in Table 1 in link below]
The latest results support the first group of drill assays that included intersections of:
56m at 8.8% TGC from surface (MHRC035), including;
- 25m at 10.0% TGC
78m at 8.0% TGC from surface (MHRC036), including;
- 42m at 10.2% TGC
(Refer announcement dated 18 June 2014)
The RC drill programme focussed on shallow, highly-weathered soft graphite mineralisation, as the liberation and preservation of large and jumbo flake size is paramount in maximising sales revenue.
Results for the remaining 29 RC drill holes are expected to be released in the next few weeks. The drilling programme aims to upgrade the near surface 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 to a JORC Indicated/Measured Resource category (refer figure 2 in link below and note 1). Work is now underway and completion is expected mid-July. Subject to this upgrade, the Epanko Economic Scoping Study will then be released.
The drilling programme aims to upgrade the near surface 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 to a JORC Indicated/Measured Resource category (refer figure 2 in link below and note 1). Work is now underway and completion is expected mid-July. Subject to this upgrade, the Epanko Economic Scoping Study will then be released.
Table 1: Epanko RC Intersection Table (also see link below)
--------------------------------------------------------------
Graphite Mineralisation
Hole ID N E Dip Azi Depth From To Interval Grade
(m) (m) (m) (m) (m) (m) (%TGC)
--------------------------------------------------------------
MHRC031 904328 9035506 -60 270 80 0 80 80 5.3
MHRC032 904222 9035151 -60 270 50 0 18 18 9.7
MHRC033 904225 9035150 -70 90 50 0 32 32 9.3
Includes 14 30 16 10.3
MHRC034 904227 9035197 -60 270 41 0 16 16 10.3
MHRC035 904232 9035198 -90 90 65 0 56 56 8.8
Includes 6 13 7 10.3
Includes 18 43 25 10.0
MHRC036 904220 9035100 -60 90 78 0 78 78 8.0
Includes 0 42 42 10.2
MHRC037 904245 9035274 -60 270 47 0 34 34 8.2
Includes 0 21 21 9.6
MHRC038 904293 9035401 -60 270 92 0 96 96 6.2
Includes 0 18 18 10.4
Includes 49 82 32 7.2
MHRC039 904258 9035498 -60 270 53 3 41 41 7.8
Includes 4 11 7 10.4
Includes 23 27 4 9.8
Includes 32 41 9 8.4
---------------------------------------------------------------
Notes for Table 1
All total graphite carbon ("TGC") analysis undertaken by LECO at independent commercial laboratory SGS in Johannesburg, South Africa. RC Samples collected over 1 metre intervals using an industry standard 3 tier riffle splitter. Minimum intersection width 2 metres with internal waste of no more than 2 metres. Downhole lengths are reported, as true width is unknown. Azimuths are referenced to local grid. No top cut has been applied and intersection grade rounded to 1 decimal figure. Drill hole coordinates referenced to local grid WGS84 UTM36S.
To view all figures and tables, please visit:
http://media.abnnewswire.net/media/en/docs/77493-ASX-KNL-682315.pdf
About Kibaran Resources Ltd:
Kibaran Resources Ltd. (ASX:KNL) is an exploration company with highly prospective graphite and nickel projects located in Tanzania.
The Company’s primary focus is on its 100%-owned Epanko deposit, located within the Mahenge Graphite Project. Epanko currently has an Inferred Mineral Resource Estimate of 14.9Mt, grading 10.5% TGC, for 1.56Mt of contained graphite, defined in accordance with the JORC Code. This initial estimate only covers 20% of the project area. Metallurgy has found Epanko graphite to be large flake and expandable in nature.
Contact:
Robert Hodby, Company Secretary
Kibaran Resources Ltd.
Tel: +61-8-6380-1003
Rebecca Lawson
Investor/Media Relations
M&C Partners
Tel: +61-2-8916-6124
E-mail: rebecca.lawson@mcpartners.com.au
