Volt Resources Ltd.: Quarterly Activities Report March 2016
02.05.2016 | ABN Newswire
Melbourne, Australia - Volt Resources Ltd. (ASX:VRC) provides the following update on activities undertaken for the quarter ended 31 March 2016, which includes activities up until the date of reporting. This report also covers announcements made under the previous name, Mozambi Resources Limited (ASX:MOZ):HIGHLIGHTS
- Maiden JORC Resource estimate of 179Mt @ 5.1% graphitic carbon at 100% owned Namangale Project in Tanzania
- Flake size distribution analysis continues to demonstrate that Namangale has the potential to produce a Super Jumbo and Jumbo flake graphite product
- Capital raising of AUD$4.6 million via an oversubscribed placement with funds used to fast track Pre-Feasibility Study (PFS)
- PFS commenced with the appointment of BatteryLimits Pty Ltd to project manage through to completion scheduled in Q4 2016, with Optiro doing the Resource work during the PFS
- Planning for the 2016 drilling program commenced
- Bulk sampling program in progress across orebody to identify the optimal location for initial pit design and to provide additional feedstock for advanced metallurgical test work. The additional samples will also be provided to potential offtake partners and end user groups
- Extensive metallurgical testwork program well advanced with first batch of concentrate results imminent. The concentrate product is being tailor made for the Lithium Ion battery market
- Potential off take and end user customer discussions continuing
- Change of company name from Mozambi Resources Limited to Volt Resources Ltd.
- Appointment of Mr Alwyn Vorster to the Board as a Non Executive Director
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http://abnnewswire.net/lnk/86X24UF8
About Volt Resources Ltd:
Volt Resources Ltd. (ASX:VRC) is a graphite exploration company listed on the Australian Stock Exchange under the ASX code VRC. The Company is focused on the exploration and development of the Jumbo Flake Namangale graphite project in Tanzania which has the potential to add to value for shareholders.
The Namangale Project is one of the largest graphite deposit in Tanzania containing a JORC compliant Inferred Resource of 179Mt @ 5.1% TGC. The project is exceptionally well located in South Eastern Tanzania being 140km from a deep-water port and 10km from sealed roads. Mineralisation at the three drilled deposits, occurs from surface and remains open in all directions. After the completion of this the recent capital raising the Company is now fully funded to complete the Pre-Feasibility Study into commencing production of high quality flake graphite targeting the rapidly expanding lithium-ion battery market. Volt has established a dominant tenement position in this extremely well located graphite rich part of Tanzania.
Contact:
Alan Armstrong, Managing Director
Volt Resources Ltd.
TEL: +61-3-9614-0600
FAX: +61-3-9614-0550