Metals of Africa releases Montepuez Central maiden graphite Resource
THE DRILL SERGEANT: Metals of Africa (ASX: MTA) announced a maiden JORC 2012 Mineral Resource estimate for the company’s Montepuez Central graphite project, located in the Cabo Delgado graphite province of Mozambique in East Africa.
The total Resource has been calculated at:
61.6 million tonnes at 10.3 per cent total graphitic carbon (TGC) and 0.27 per cent vanadium oxide (V2O5) for 6.3 million tonnes of graphite and 163,000 tonnes of V2O5 (at a 6% TGC cut-off).
The Mineral Resource comprises:
An Indicated JORC Mineral Resource of 27.6 million tonnes at 10.4 per cent TGC and 0.23 per cent V2O5 for 2.9 million tonnes of graphite and 62,000 tonnes V2O5; and
An Inferred JORC Mineral Resource of 34.1 million tonnes at 10.2 per cent TGC and 0.3 per cent V2O5 for 3.5 million tonnes TGC and 101,000 tonnes V2O5.
The company declared the Mineral Resource to be high-grade, at 10.3 per cent TGC, and remains open along strike and down dip.
“This impressive maiden resource positions Metals of Africa as a major player in the global graphite space,” Metals of Africa managing director Cherie Leeden said in the company’s announcement to the Australian Securities Exchange.
“A resource of 61 million tonnes will enable the company to meet the growing demand of end users and is ample for our proposed mine design.
“Our flake size and quality is exceptional and our deposit clearly boasts the best ratio of large and jumbo flake of graphite deposits in Mozambique.
“Large flake sells for a premium and gives us optionality with respect to any end users.
“We have outlined a pathway to fast track the project and, in parallel to commencing our pre-feasibility study, we intend to investigate the viability of setting up a spherical graphite plant in the USA.”
Website: www.metalsofafrica.com.au