Commences Pre-Feasibility Study
Melbourne, Mar 10, 2016 AEST (ABN Newswire) - Volt Resources Ltd (
ASX:VRC) ("Volt" or "the Company") is pleased to announce that it has signed an agreement with specialist Australian project management company BatteryLimits Pty Ltd to deliver a Pre-Feasibility Study on its wholly-owned Namangale Graphite Project in Tanzania.
HIGHLIGHTS
- Volt Resources Ltd engages BatteryLimits to produce a PFS on its wholly-owned Namangale Graphite Project
- Metallurgical test work has already begun in consultation with BatteryLimits
- Stage 1 of PFS to commence immediately
- PFS will focus on maximising value from the quality of Volt's Jumbo Flake graphite
- PFS due for completion in Q4 this year
BatteryLimits will commence work immediately on Stage 1 of a PFS that will inform the more detailed Stage 2 of the PFS. The Stage 1 work will identify and quantify the dynamics of the project, including the favourable location in close proximity to existing infrastructure and the benefits of our exceptional graphite mineralogy.
Metallurgical work has already commenced under guidance from BatteryLimits, with the production of high quality flake concentrates, targeting the lithium-ion battery market, being the Company's key priority. This will be managed through the use of our existing diamond core samples, right through to the completion of the PFS.
Chairman, Stephen Hunt commented:
"Following on from the excellent Jumbo flake size results reported earlier this week, the Board has approved the appointment of BatteryLimits to fast track the PFS. BatteryLimits is highly experienced in the graphite sector and is well known for its work in Tanzania. Furthermore, we believe their culture is a good strategic fit with VOLT and this will help expedite the process towards a favourable completion. As such, BatteryLimits is very well placed to assess the economic feasibility of our Jumbo flake graphite project."
ABOUT BATTERYLIMITS
BatteryLimits is a specialist Australian project management and process engineering organisation. They are currently working on projects in Australia, Tanzania, Saudi Arabia and Mexico.
They are arguably the most experienced graphite service provider in Australia in both metallurgical development and in the delivery of feasibility studies. They are currently working on the metallurgical development of four graphite projects and have prepared two full Pre-Feasibility Studies. They are conversant with the graphite industry from ore processing through to downstream concentrate applications, and have proven graphite experience in Tanzania.
In line with their rapidly growing reputation in graphite, BatteryLimits has been selected by Volt to fast track the development of the Namangale Graphite Project in Tanzania.
BACKGROUND ON THE NAMANGALE PROJECT
The Namangale Project is one of the largest graphite deposit in Tanzania containing a JORC compliant Inferred Resource of 179Mt @ 5.1% TGC. The project is exceptionally well located in South Eastern Tanzania being 140km from a deep-water port and 10km from sealed roads. Mineralisation at the three drilled deposits, occurs from surface and remains open in all directions. After the completion of the recent capital raising the Company is now fully funded to complete the Pre-Feasibility Study. Volt has established a dominant tenement position in the extremely well located graphite rich part of Tanzania.
About Volt Resources Ltd
Volt Resources Ltd (ASX:VRC) (FRA:RBL) (OTCMKTS:VLTRF) is critical minerals and battery material company listed on the Australian Stock Exchange. We are a graphite producer and an emerging natural graphite anode producer. Volt has a 70% interest in the Zavalievsky Graphite business in Ukraine. The ZG mine and processing facilities have been in operation since 1934 and are near key markets with significant developments in lithium-ion battery production. ZG benefits from an existing customer base and graphite product supply chains based on excellent transport infrastructure covering road, rail, river, and sea freight combined with reliable grid power, ample potable ground water supply and good communications.
Volt acquired three licence applications that are prospective for lithium-borate mineralisation. The licence applications are in respect to a total area of 291km2, located in Serbia and are west and south-west of the Serbian capital, Belgrade.
Volt is progressing the development of its large wholly owned Bunyu Graphite Project in Tanzania. The Bunyu Graphite Project is ideally located near to critical infrastructure with sealed roads running through the project area and ready access to the deep-water port of Mtwara 140km from the Project. In 2018, Volt reported the completion of the Feasibility Study into the Stage 1 development of the Bunyu Graphite Project. The Stage 1 development is based on a mining and processing plant annual throughput rate of 400,000 tonnes of ore to produce on average 23,700tpa of graphite products. A key objective of the Stage 1 development is to establish infrastructure and market position in support of the development of the significantly larger Stage 2 expansion project at Bunyu.
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