Kibaran intersects more graphite at Epanko

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THE DRILL SERGEANT: The recent run of good news has continued for Kibaran Resources (ASX: KNL) with the latest results from a recent Reverse Circulation (RC) drill program undertaken at the Epanko deposit within the company’s Mahenge graphite project in Tanzania.

Kibaran claims the drilling has returned the best graphite intersections it has encountered to date with all drill holes intersected high-grade, premium large flake graphite mineralisation.

The company indicated the majority of holes encountered graphite mineralisation from surface to the end of hole.

The latest results follow earlier assays, which also delivered high-grade graphite intersections with intersected grades as up to 20.1 per cent Total Graphitic Carbon (TGC).

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

A previously reported intersection from hole MHRC052 has extended to 28m at 13.8 per cent TGC as a result of pending assays having been received.

 

Geological Interpretation of section 9035200 mN. Source: Company announcement

 

An upgrade of the existing JORC Inferred Mineral Resource [14.9 million tonnes at 10.5 per cent TGC for
1.56 million tonnes of contained graphite] to an Indicated/Measured category is underway with the final batch of drill assay results expected to be received within the next week.

Recent drill result highlights include:

MHRC052
28 metres at 13.8 per cent TGC from 14m, including 18m at 17.0 per cent TGC and 7m at 20.1 per cent TGC;

MHRC053
22m at 12.3 per cent TGC from 12m, including 12m at 15.5 per cent TGC;

MHRC057
40m at 7.6 per cent TGC from 0m; and

MHRC058
40m at 7.1  per cent TGC from 8m.

“These latest results continue to confirm the premium quality of Epanko graphite and position Kibaran positively in terms of what graphite traders outside of China consider fundamental prerequisites for commercially viable mining operations; large flake size distribution, plus-99.9 per cent purity, expandable large flake properties and one or more binding off-take agreements,” Kibaran Resources executive director Andrew Spinks said in the company’s announcement to the Australian Securities Exchange.

“The company looks forward to delivering the resource upgrade in the very near future and the subsequent release of the updated Epanko Scoping Study.”

Email: info@kibaranresources.com

Website: www.kibaranresources.com