Volt Resources Ltd (ASX:VRC)’s foreign and historical estimate of tonnage of graphite mineralisation for the south-eastern area of the Zavalievsky Graphite Project in Ukraine totals 22.913 million tonnes at a grade of 6.8% carbon.
This estimate supports Volt’s plans to expand graphite production in Europe and develop downstream processing facilities for battery anode material (BAM) and other high-value graphite products.
The multi-decade mine life is based on current production capacity of graphite mine and processing plant while the foreign and historical estimate is a subset of the overall Zavalievsky Graphite deposit.
Planned production improvements and expansion will position Zavalievsky Graphite to be a significant supplier of graphite for BAM.
"Significant estimates at good grades"
Volt managing director Trevor Matthews said: “The ZG business has significant graphite mineralisation estimates at good grades.
“With further resource definition and metallurgical work, based on the deposit size Volt believes the mineralised estimate can be significantly increased and will be reported in accordance with the JORC code."
Key market participant
“Combined with its superior geographical location in Eastern Europe and long operating history, ZG places Volt years ahead of its peer graphite companies without the usual development risks associated with a greenfield project," he said.
“Volt has the clear opportunity to become a key market participant in Europe through increasing graphite supply and developing battery anode material production to supply the growing European market and with excellent access to other markets in the USA and the Middle East.”
ZG advantages
The Zavalievsky Graphite (ZG) business has the following significant advantages for Volt:
- The ZG business is close to key markets with significant developments in lithium-ion battery (LIB) facilities planned to service the European-based car makers and renewable energy sector;
- Plans to produce BAM using existing graphite production to become a fully integrated supplier to LIB cell makers based in Europe;
- Makes graphite products across the range and has the potential to significantly increase its high-value large flake production;
- Produces a high value purified 99.5% TGC product;
- Long-life multi-decade producing mine that has further exploration upside;
- Existing customer base and graphite product supply chains;
- Excellent transport infrastructure covering road, rail, river and sea freight combined with reliable grid power, ample potable groundwater supply and good communications;
- An experienced workforce that can assist with training, commissioning and ramp-up for the Bunyu development;
- Potential to generate material cashflow which could make Volt internally funded for corporate costs and working capital into the future; and
- A 79% interest in 636 hectares of freehold land, with the mine, processing plant and other buildings and facilities located on that land.