High Quality Concentrates Produced and JORC Resource Upgrade
Melbourne, May 13, 2016 AEST (ABN Newswire) - Volt Resources Ltd (
ASX:VRC) High Quality Concentrates Produced and JORC Resource Upgrade at the Namangale Project.
HIGHLIGHTS
- Excellent metallurgical flotation results with +300 micron concentrates up to 97.7% Total Graphitic Carbon (TGC)
- Highest grade concentrates produced in the Large and Jumbo Flake Categories
- Excellent purity achieved without the use of chemicals
- Further optimisation of the flotation flow sheet is ongoing to further improve both purity and recovery
- Upgraded project JORC Resource Estimate to 214.4Mt @ 5.1% Graphitic Carbon
- 62.6Mt of the JORC Resource now in the Indicated Category
- Sampling program completed to identify the optimal location for initial pit design
- Bulk-sampling program will also provide additional feedstock for advanced metallurgical test work and be provided to potential offtake partners and end user groups
- Namangale Pre-Feasibility study progressing with stage one results imminent
NAMANGALE METALLURGICAL TESTWORK
Exceptional +300 micron graphite concentrate products have been produced generating purities of up to 97.7% TGC. The process used to generate concentrates was an industry standard process of grinding and flotation. The results have the potential to provide marketing advantage with cost savings against other graphite producing companies possible. There are also environmental advantages given that there were no chemicals used in the process of producing a graphite concentrate. Figure 1 in link below shows a sample of concentrate that was generated from the Namangale Project.
Further bulk sampling metallurgical test work is continuing with the goal of producing excellent premium products to supply the growing Lithium-ion battery market.
The Company will continue to refine the graphite concentrate flow sheet, with the aim of continuing to improve recovery and to enhance the repeatability of the high-grade results being achieved.
Executive Chairman Stephen Hunt commented, "The metallurgical results received to date have been outstanding. To achieve a 97.7% recovery at this stage of development is a tremendous outcome. This is a great validation as the Company aims to produce a premium product capable of meeting demand for the growing lithium-ion battery and high-tech markets".
GLOBAL RESOURCE INCREASE TO 214.4 Mt @ 5.1%
A JORC Resource upgrade for the Namangale 1 Deposit to 196.0Mt @ 5.1% TGC, with 62.6Mt @ 5.1% now in the Indicated category. The total Project Resource has now increased to 214.4Mt with 29.2% in the Indicated Category, from 179.0Mt all in the Inferred category..
RESOURCE UPGRADE
Volt Resources has now upgraded the Namangale 1 deposit to 196.0Mt with 62.6Mt in the Indicated Resource category. The Resource is based on 61RC holes with 4 Diamond holes. The global Resource estimate covers all three prospects where a total of 82 RC holes and 9 Diamond holes were drilled to a maximum depth of 100m. The breakdown is summarised in Table 1 in link below:
The Namangale 1 deposit represents the largest portion of the mineral resource and occurs as a flat lying graphite schist unit striking in a north south orientation.
Independent consultancy firm, ROM Resources, carried out the Mineral Resource update, which is a follow up to the maiden JORC Resource they prepared in January of this year.
2016 EXPLORATION PROGRAM
Preparations for the 2016 drilling program have advanced with initial activities including clearing and permitting having commenced on site. A bulk-sampling program has now been completed at the Namangale 1, 2, and 3 deposits. These samples will provide additional feedstock for advanced metallurgical test work and provide additional samples for potential offtake and end user partners. The objective of the 2016 exploration program is to upgrade a significant proportion of the Inferred JORC Resource to Indicated and Measured Resource categories. The drilling program will also include sterilization drilling under the proposed waste dump and tailings dam location, geo-tech diamond drill holes and the construction of water bore holes.
CORPORATE UPDATE
Volt Resources is progressing a PFS study on the Namangale Project and the results of stage 1 of this study are now imminent following the Resource upgrade and initial flotation results. Volt Resources also notes the natural flake graphite market is currently experiencing phenomenal growth due to the increasing demand for lithium-ion batteries for electric vehicles. Potential off take and end user customer discussions are continuing with the Company receiving numerous approaches from various groups.
The Company is well funded having successfully completing a capital raising of $4.6 million in April 2016.
To view tables and figures, please visit:
http://abnnewswire.net/lnk/P1F4EYKH
About Volt Resources Ltd
Volt Resources Ltd (ASX:VRC) (FRA:RBL) (OTCMKTS:VLTRF) is critical minerals and battery material company listed on the Australian Stock Exchange. We are a graphite producer and an emerging natural graphite anode producer. Volt has a 70% interest in the Zavalievsky Graphite business in Ukraine. The ZG mine and processing facilities have been in operation since 1934 and are near key markets with significant developments in lithium-ion battery production. ZG benefits from an existing customer base and graphite product supply chains based on excellent transport infrastructure covering road, rail, river, and sea freight combined with reliable grid power, ample potable ground water supply and good communications.
Volt acquired three licence applications that are prospective for lithium-borate mineralisation. The licence applications are in respect to a total area of 291km2, located in Serbia and are west and south-west of the Serbian capital, Belgrade.
Volt is progressing the development of its large wholly owned Bunyu Graphite Project in Tanzania. The Bunyu Graphite Project is ideally located near to critical infrastructure with sealed roads running through the project area and ready access to the deep-water port of Mtwara 140km from the Project. In 2018, Volt reported the completion of the Feasibility Study into the Stage 1 development of the Bunyu Graphite Project. The Stage 1 development is based on a mining and processing plant annual throughput rate of 400,000 tonnes of ore to produce on average 23,700tpa of graphite products. A key objective of the Stage 1 development is to establish infrastructure and market position in support of the development of the significantly larger Stage 2 expansion project at Bunyu.
| ||
|
