Expediting Namangale Deposit Development
Melbourne, Aug 18, 2016 AEST (ABN Newswire) - Volt Resources Limited (
ASX:VRC) ("Volt" or the "Company") is delighted to announce significant progress at its flagship Namangale graphite project. The reverse circulation and diamond drilling program, required to determine the resource upgrade, has now been completed. In addition, substantial mineralisation was observed which extends existing discoveries on each deposit. Volt has now commenced modelling for each of the deposits to increase geological knowledge and confidence, while mine planning is now underway following a site visit to the proposed working areas by BatteryLimits mining engineers.
HIGHLIGHTS:
- Extensive RC and diamond drilling program completed at Namangale 1, 2 and 3
- Substantial mineralisation observed extending existing discoveries on each deposit
- Resource modelling now underway with expectations of substantial increases in resource size and confidence from each deposit
- BatteryLimits mining engineers have recently visited the site to progress mine layout, tailing dams, haul roads and mining license plans
- Key meetings held with Mtwara Port Authority
- Environmental and social impact study to commence shortly
SITE VISIT BY MINING ENGINEERS
Mining engineers from BatteryLimits visited the Namangale project site in Tanzania to commence planning the mine site layout as well as identify suitable locations for the central processing plant and tailings dams.
Phil Hearse Managing Director of BatteryLimits commented: "The site visit by the BatteryLimits team was aimed at site layout and logistics and infrastructure investigations, as well as examining the drill core with the geological team. The team, including a senior engineer from Optiro, identified suitable site locations at Namangale 1 and 2 for roads, the processing plant, waste dumps and tailings storage. This was an important part of the feasibility process."
Incrementally, the engineers commenced discussions with Mtwara Port Authority executives
focused on storage facilities, port capacity expansion to facilitate graphite concentrate exports from Namangale mine and ready access. As a consequence of this meeting, Volt will be preparing a detailed plan on its future access and capacity requirements at the export port of Mtwara directly to the government. The deep-water port of Mtwara has an existing export capacity of 400,000 metric tonnes annually but currently less than half of this capacity is being utilised.
Undertaking mine planning is a critical requirement of Volt's Pre-Feasibility Study (PFS) which is due for completion by 4Q2016.
COMMENENCEMENT OF ENVIRONMENTAL SURVEY
Volt has commenced the Environment and Social Impact Assessment ("ESIA") process. This is a very important requirement and essential to gaining government-mining approvals.
EXPLORATION
Resource drilling at the Namangale project is now complete, with a total of 7,791m drilled. The mineralisation intersected was consistent with results from 2015, highlighting significant areas of extension in each of the three deposits. As such, resource modelling is now underway, with expectations of a substantial increase in resource size from each deposit.
Table 1 (see link below) shows the amount of drilling completed at each deposit. Metallurgical samples from the drilling program are now in and will be used to produce graphite concentrates for further test-work.
Executive Chairman, Stephen Hunt commented: "The Board is delighted with all aspects of the progress with the project, as we look to complete our PFS and fast track towards production. Volt is well positioned to meet the unprecedented demand for the premium jumbo and super jumbo flake graphite from end-user groups globally."
CONCLUSION
The Board of Volt Resources believes these results to date will lift the confidence level gaining further traction with end-users in the lithium-ion battery sector, whilst they demonstrate the Namangale project is shaping up faster than expected to be a world-class graphite deposit.
To view tables and figures, please visit:
http://abnnewswire.net/lnk/E534GYM7
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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