Walkabout Resources unlocks more graphite potential with regional work
Regional exploration has allowed Walkabout to calculate new graphite potential.
Company
ASX:WKT
Normal 0 false false false EN-AU X-NONE X-NONE MicrosoftInternetExplorer4 Walkabout Resources Ltd (ASX:WKT) is focused on the construction of its high-grade, high-margin Lindi Jumbo graphite project, based in Tanzania.
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Regional exploration has allowed Walkabout to calculate new graphite potential.
Walkabout recently completed a DFS on the Lindi Jumbo Graphite Project.
Walkabout has restructured the board and executive capability with immediate effect.
Walkabout currently holds 70% of the project with the option to acquire 100%.
Walkabout requested the halt concerning a Definitive Feasibility Study.
Walkabout Resources (ASX:WKT) has now completed its $2 million raising, with the shortfall successfully concluded.
Walkabout receives strong investor support to fund DFS completion.
Walkabout Resources (ASX:WKT) has been granted a trading halt by the ASX this morning, pending details of a share raising activity.
The study forecast a payback of less than two years.
Allan Mulligan commented: "The project is advancing extremely well."
The resource upgrade is a significant step towards advancing Lindi towards development.
The stock symbol for shares trading on a deferred settlement basis is WKTDA.
Walkabout is fast tracking the development of Lindi.
Walkabout Resources Ltd has discovered a new exploration zone in Tanzania.
Trenching results from The Gilbert Arc within the 70% owned Lindi Jumbo Graphite Project have de-risked the project further by proving that mineralised high grade graphite zones extend to surface and near surface.Gilbert Arc is the hi
Results confirm Gilbert Arc to be the highest grade graphite deposit discovered in Tanzania. The first batch of assay results from the infill program will be used in the expected resource upgrade scheduled for October.
The preliminary results from infill drilling support Walkabout’s prospects of receiving a resource upgrade at Lindi, which bodes well for project economics.