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Resources jump 41% at Walkabout's Lindi Jumbo graphite project

An updated resource estimate for Walkabout Resources Ltd.'s Lindi Jumbo graphite project in Tanzania showed a 41.3% increase in tonnage, according to a Dec. 19 release.

At a 5% total graphitic carbon, or TGC, cutoff, the property now hosts combined measured, indicated and inferred resources of 41.8 million tonnes grading 10.8% TGC for 4.5 million tonnes of contained graphite. This includes 5 million tonnes of high-grade material at 22.5% TGC.

Walkabout said the resource was based on results from 69 reverse circulation drillholes, eight diamond drillholes and 10 sampled and mapped trenches.

The new resource will be incorporated into mining studies and an amended definitive feasibility study, which will be completed in early 2019.

Tanzanian regulators approved the mining license for Lindi Jumbo in September.