Kibaran encounters big numbers at Epanko

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THE DRILL SERGEANT: Kibaran Resources (ASX: KNL) has received results from a recent Reverse Circulation (RC) drill program carried out at the Epanko deposit within the company’s Mahenge graphite project in Tanzania.

The company claims the drilling has returned the best graphite intersections it has encountered to date with all drill holes intersecting high-grade, premium large flake graphite mineralisation, with the majority encountering graphite mineralisation from surface to the end of hole.

Kibaran said the Epanko graphite mineralisation remains open at depth in all directions.

 

Location plan of the Epanko deposit with latest drill results. Source: Company announcement

 

The company is now working to upgrade the existing JORC Inferred Mineral Resource of 14.9 million tonnoes at 10.5 per cent total graphitic carbon (TGC) for 1.56 million tonnes of contained graphite the Indicated/Measured category.

The resource estimation work is running in parallel to ongoing development studies.

Kibaran indicated it is now fast tracking this work to a development decision.

The final batch of drill assay results is expected to be received within the week.

Highlights from the latest drilling include:

MHRC040
43 metres at 8.6 per cent TGC from 3m, including 13m at 10 per cent TGC;

MHRC042
17m at 9.1 per cent TGC from 4m;

MHRC048
39m at 11.3 per cent TGC from 2m, including 12m at 14.5 per cent TGC and 6m at 15.5 per cent TGC;

MHRC050
40m at 9.2 per cent TGC from 8m, including 13m at 11.4 per cent TGC; and

MHRC052
22m at 13.4 per cent TGC from 14m, including 7m at 20.1 per cent TGC.

“These results are significant for a number of reasons,” Kibaran Resources executive director Andrew Spinks said in the company’s announcement to the Australian Securities Exchange.

“They not only surpass all previous results at Epanko in quality terms but surpass many of the results being reported from other graphite projects globally.

“In addition, the mineralisation remains open so there is still value yet to be unlocked.

“Lastly and very notably, these results display the same key attributes of previous, in terms of large flake size and should rival the plus-99.9 per cent purity results announced on 7 July 2014.

“The company is looking forward to delivering its resource upgrade in the near future and subsequently releasing the Epanko Scoping Study.”

Email: info@kibaranresources.com

Website: www.kibaranresources.com