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Volt Resources ups Namangale graphite resource 108% to 446 million tonnes

Volt Resources Ltd. achieved a 108% increase in the mineral resource estimate at its Namangale graphite project, which now hosts over 22.3 million tonnes of contained graphite.

The estimate for the North and South deposits jumped to 446.2 million tonnes at 5.01% total graphitic carbon, from a May estimate of 214.4 million tonnes at 5.1% total graphitic carbon for 10.9 million tonnes of contained graphite.

The mineral resources has 37%, or 167.7 million tonnes, of the tonnage in the measured and indicated category, the company said Oct. 12.

The new estimate will become part of the ongoing pre-feasibility study for the project, expected to be released during the current quarter.

In mid-June, Volt signed three nonbinding memorandums of understanding with major Chinese graphite end users in the lithium-ion battery market for the off-take of 100,000 tonnes per annum.

The Namangale project is part of the Nachingwea property in Tanzania.