Mozambique – African focused exploration company Metals of Africa, listed on the ASX, has announced a maiden JORC mineral resource estimate at its Montepuez Central graphite project in the Cabo Delgado graphite province in Mozambique.
- Total resource is:
- 6 Mt at 10.3% total graphitic carbon (TGC) and 0.27% vanadium oxide (V2O5) for 6.3 Mt of graphite and 163 000 t of V2O5 (at a 6% TGC cut-off).
- The mineral resource comprises:
- Indicated JORC mineral resource of 27.6 Mt at 10.4% TGC and 0.23% V2O5 for 2.9 Mt of graphite and 62Kt V2O5;
- Inferred JORC mineral resource of 34.1Mt at 10.2% TGC and 0.30% V2O5 for 3.5 Mt TGC and 101 000 t V2O5.
- The resource is open along strike and at depth, and includes high-grade zones (>15% TGC) from surface.
- Resource calculated from drilling (60 diamond core holes for 6 450 m) at only 5% of the prospective geology at the project.
- Resource contains a higher percentage content of large and jumbo flake size than any published graphite resource in Mozambique.
- Off-take discussions have commenced with end users and pre-feasibility study has also commenced.
- Company aims to become a low-cost producer of highly sought after natural flake graphite.
“This impressive maiden resource positions Metals of Africa as a major player in the global graphite space. A resource of 61 Mt will enable the company to meet the growing demand of end users and is ample for our proposed mine design,” says MD Cherie Leeden.
“Our flake size and quality is exceptional and our deposit clearly boasts the best ratio of large and jumbo flake of graphite deposits in Mozambique. Large flake sells for a premium and gives us optionality with respect to any end users. We have outlined a pathway to fast track the Project and, in parallel to commencing our pre-feasibility study, we intend to investigate the viability of setting up a spherical graphite plant in the USA.”
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