Kibaran Resources Ltd (ASX:KNL) Mahenge Continues To Deliver Substantial Graphite Results

Kibaran Resources Ltd (ASX:KNL) is pleased to report the second group of assay results from the recent Reverse Circulation (RC) drill programme at its Epanko deposit within the Mahenge Graphite Project in Tanzania.

The consistency of the latest results continues to confirm a significant portion of graphite mineralisation is at surface, with mineralisation remaining open in all directions (refer figure 1 and figure 2 in link below)

Significant RC results include;

34m at 8.2% TGC from surface (MHRC037), including;

- 21m at 9.6% TGC

96m at 6.2% TGC from surface (MHRC039), including;

- 18m at 10.4% TGC

- 32m at 7.2% TGC

41m at 7.8% TGC from surface (MHRC039), including;

- 7m at 10.4% TGC

- 4m at 9.8% TGC

- 9m at 8.4% TGC

[Full results are outlined in Table 1 in link below]

The latest results support the first group of drill assays that included intersections of:

56m at 8.8% TGC from surface (MHRC035), including;

- 25m at 10.0% TGC

78m at 8.0% TGC from surface (MHRC036), including;

- 42m at 10.2% TGC

(Refer announcement dated 18 June 2014)

The RC drill programme focussed on shallow, highly-weathered soft graphite mineralisation, as the liberation and preservation of large and jumbo flake size is paramount in maximising sales revenue.

Results for the remaining 29 RC drill holes are expected to be released in the next few weeks. The drilling programme aims to upgrade the near surface portion of the existing JORC Inferred Mineral Resource of 14.9Mt at 10.5% TGC (total graphitic carbon) for 1,560,000t of contained graphite to a JORC Indicated/Measured Resource category (refer figure 2 in link below and note 1). Work is now underway and completion is expected mid-July. Subject to this upgrade, the Epanko Economic Scoping Study will then be released.

The drilling programme aims to upgrade the near surface portion of the existing JORC Inferred Mineral Resource of 14.9Mt at 10.5% TGC (total graphitic carbon) for 1,560,000t of contained graphite to a JORC Indicated/Measured Resource category (refer figure 2 in link below and note 1). Work is now underway and completion is expected mid-July. Subject to this upgrade, the Epanko Economic Scoping Study will then be released.

Table 1: Epanko RC Intersection Table (also see link below)

--------------------------------------------------------------
                                   Graphite Mineralisation 
Hole ID   N       E    Dip  Azi  Depth From To Interval Grade       
                        (m) (m)    (m)  (m) (m)     (m) (%TGC)
--------------------------------------------------------------
MHRC031 904328 9035506 -60  270    80    0   80     80    5.3
MHRC032 904222 9035151 -60  270    50    0   18     18    9.7
MHRC033 904225 9035150 -70   90    50    0   32     32    9.3
Includes                                14   30     16   10.3
MHRC034 904227 9035197 -60  270    41    0   16     16   10.3
MHRC035 904232 9035198 -90   90    65    0   56     56    8.8
Includes                                 6   13      7   10.3
Includes                                18   43     25   10.0
MHRC036 904220 9035100 -60   90    78    0   78     78    8.0
Includes                                 0   42     42   10.2
MHRC037 904245 9035274 -60  270    47    0   34     34    8.2
Includes                                 0   21     21    9.6
MHRC038 904293 9035401 -60  270    92    0   96     96    6.2
Includes                                 0   18     18   10.4
Includes                                49   82     32    7.2
MHRC039 904258 9035498 -60  270    53    3   41     41    7.8
Includes                                 4   11      7   10.4 
Includes                                23   27      4    9.8 
Includes                                32   41      9    8.4
---------------------------------------------------------------

Notes for Table 1

All total graphite carbon ("TGC") analysis undertaken by LECO at independent commercial laboratory SGS in Johannesburg, South Africa. RC Samples collected over 1 metre intervals using an industry standard 3 tier riffle splitter. Minimum intersection width 2 metres with internal waste of no more than 2 metres. Downhole lengths are reported, as true width is unknown. Azimuths are referenced to local grid. No top cut has been applied and intersection grade rounded to 1 decimal figure. Drill hole coordinates referenced to local grid WGS84 UTM36S.

To view all figures and tables, please visit:
http://media.abnnewswire.net/media/en/docs/77493-ASX-KNL-682315.pdf


About Kibaran Resources Ltd

Kibaran Resources Limited (ASX:KNL) is a resource company focused on fast-tracking development of its advanced Epanko Graphite Project into production. With major project development milestones achieved Epanko is rapidly moving forward to becoming a long-term stable supplier of premium quality large flake graphite for the growing graphite market.

  

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