Kibaran Resources Limited: Kibaran Secures Licence in Tanga Graphite Province, Tanzania
| ASX ANNOUNCEMENT 13 March 2014 |
Kibaran Secures Licence in Tanga Graphite Province, Tanzania
Kibaran Resources Ltd. (ASX: KNL, "Kibaran" or the "Company") is pleased to announce that the Company has been granted a Prospecting Licence for graphite in the Tanga Region of Tanzania by the Tanzanian Ministry of Energy and Minerals.
The Tanga licence covers 84km2 and provides Kibaran with a third graphite province to underpin the Company's strategy of becoming a significant and long term supplier of premium quality graphite from Tanzania. The Company's primary focus on developing its flagship Epanko Graphite Project remains unchanged.
During 2011 Kibaran evaluated 15 distinct graphite occurrences in Tanzania, from Merelani in the north to Mahenge in the south of the country, and rated the occurrences based on the potential to host large flake, premium quality graphite. Based on quality-driven criteria, the Tanga occurrence was within the top 3 of the 15 evaluated.
Kibaran is well-positioned to become a reliable graphite supplier based on existing demand via its binding off-take agreement with a major European graphite trader. Furthermore, the Company is positioning itself to be capable of responding to an anticipated increase in global demand for premium quality graphite in the medium-to-long term.
Kibaran Executive Director Mr Andrew Spinks said, "The addition of the Tanga licence to the Company's project pipeline, as well as the recently announced Memorandum of Understanding with Richland Resources to consolidate Merelani region graphite assets, form part of the Company's long-term strategy to be a significant producer of commercial, premium quality graphite."
Table 1 - Kibaran's Tanzanian Graphite Project Pipeline
| Graphite Project | Deposit | Status | Agreement |
| Mahenge | Epanko | Scoping Study | Binding Offtake (refer announcement dated 23/12/13) |
| Merelani-Arusha | Merelani | Historical Graphite Mine | MoU with Richland (refer announcement dated 5/2/14) |
| Tanga | - | Early stage exploration | - |
The Company believes that premium quality, large flake graphite occurrences are found in Tanzania due to the high metamorphic gradient and structural deformation.
Tanga Graphite prospect - key facts:
- Located 120 km south-west of the Tanga Port.
- Prospecting Licence (PL) 9537/2014 over the area covers 84km2
- During initial assessment in 2011, outcropping graphite mineralisation was identified
- Initial geological interpretations show the graphite schist continues to the north where Chinese-based organisation, Qingdao Gr-Taida Carbon Co Ltd, Pingdu City, China reportedly took a bulk sample of approximately 100 tonnes of graphite-bearing material
Figure 1 - Kibaran's Project Locations
About Kibaran Resources Limited:
Kibaran Resources Ltd. (ASX: KNL or "Kibaran") is an exploration company with highly prospective graphite and nickel projects located in Tanzania.
The Company's primary focus is on its 100%-owned Epanko deposit, located within the Mahenge Graphite Project. Epanko currently has an Inferred Mineral Resource Estimate of 14.9Mt, grading 10.5% TGC, for 1.56Mt of contained graphite1, defined in accordance with the JORC Code. This initial estimate only covers 20% of the project area. Metallurgy has found Epanko graphite to be large flake and expandable in nature.
Kibaran also has rights to the Merelani-Arusha Graphite Project, located in the north-east of Tanzania. Merelani-Arusha is also considered to be highly prospective for commercial graphite.
Graphite is regarded as a critical material for future global industrial growth, destined for industrial and technology applications including nuclear reactors, lithium-ion battery manufacturing and a source of graphene.
In addition, the Kagera Nickel Project remains underexplored and is located along strike of the Kabanga nickel deposit, owned be Xstrata, which is considered to be the largest undeveloped, high grade nickel sulphide deposit in the world.
1 "This information was prepared and first disclosed under the JORC Code 2004. It has not been updated since to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was last reported."
For further information, please contact:
Investor Relations Company Secretary
Tina Wing Kee Robert Hodby
Mercury Consulting Kibaran Resources
P: +61 2 8256 3326 P: + 61 8 6380 1003
E: tina.wingkee@mercuryconsulting.com.au
| The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr Andrew Spinks, who is a Member of The Australasian Institute of Mining and Metallurgy included in a list promulgated by the ASX from time to time. Andrew Spinks is a director of Kibaran Resources Ltd. and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Andrew Spinks consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. |
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