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Kibaran ups total resource by 40% at Epanko graphite project

An upgraded mineral resource estimate at Kibaran Resources Ltd.'s Epanko graphite project in Tanzania increased the total resource by 40% over the June 2015 estimate.

The total resource at the Epanko project now totals 30.7 million tonnes grading 9.9% total graphitic carbon for 3.05 million tonnes of contained graphite, using an 8% cutoff grade, the company said March 31.

Resources in the measured and indicated categories now total 7.5 million tonnes at 9.8% total graphitic carbon for 738,900 tonnes of contained graphite and 12.8 million tonnes at 10.0% total graphitic carbon for 1.3 million tonnes of contained graphite, respectively.

In the inferred category, the resource totaled 10.4 million tonnes at 9.9% total graphitic carbon for 1.0 million tonnes of contained graphite.

Results from the 2016 infill and extension drilling campaign were incorporated within the updated estimate.

The company is undertaking an updated base case bankable feasibility study, slated to complete in April, and will incorporate revised mine plan and ore reserve for both the 40,000-tonne-per-annum and 60,000-tonne-per-annum concentrate scenarios.