Walkabout Resources Ltd sees extensions to Lindi Jumbo Graphite Project
Visual results from this completed drilling and trenching program are positive and confirming assays will be highly anticipated by the market.
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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Visual results from this completed drilling and trenching program are positive and confirming assays will be highly anticipated by the market.
The board has resolved that due to encouraging technical and financial data, project development will be accelerated. A modest reverse circulation and diamond drill program will commence this week.
The additional metallurgical test results for Lindi continue to demonstrate the unique characteristics of the high grade deposit. These results position the Lindi concentrate as a premium natural flake product suitable for the expandable gr
The funding will be used for a 1,500 metre drill program in July at the company's 70% owned Lindi Jumbo Graphite Project in south-eastern Tanzania.
The Australian equity market was once again in sell-off mood today. MARKET ACTION .... Walkabout Resources Ltd's shares soared 50% on massive volume after test work from its Lindi Jumbo Graphite Project.
These exceptional test work results will allow Walkabout to produce a highly sort after graphite concentrate. Super jumbo flake sizes are forecast by industry analyst Stormcrow to sell for US$6,000 per tonne by 2020.
The granting of these three lithium applications completes a prompt transition of Walkabout into a lithium explorer while it develops the Lindi Jumbo Graphite Project.
The 304 square kilometres of tenements in Namibia cover portions of the Strathmore pegmatite swarm, located within the Cape Cross-Uis pegmatite belt. Pegmatites are up to 120 metres in length and 40 metres wide outcrop at surface.
Walkabout is dialling into African lithium and has filed applications for three Prospecting Licences in a known lithium-tantalum setting in Tanzania. The company is also evaluating other lithium opportunities on the continent.
Walkabout has received strong support from professional and sophisticated investors with its SPP shortfall fully subscribed. Funds will progress the development of the Lindi Jumbo Graphite Project in Tanzania.
The funds will be employed in progressing the development of the Lindi Jumbo Graphite Project in south east Tanzania. The company is aiming to produce a high-grade jumbo and large flake concentrate product.
With a grade that is substantially higher than Nachu and therefore lower input costs and early results confirming that the Jumbo flake ratios will be similar to Nachu, Walkabout becomes an interesting proposition.
The very high grade, large and jumbo flake graphite core at Lindi Graphite Project in Tanzania of 2.6 million tonnes at 20.6% TGC, enveloped by 6.9 million tonnes at 8.9% TGC that should be the enabler to allow Walkabout to fast track a mod