PERTH (miningweekly.com) – Minerals explorer Walkabout Resources has signed a memorandum of understanding (MoU) over the Lindi jumbo graphite project, in Tanzania.
Walkabout in November last year agreed to exercise its option over the Lindi graphite project for the staged purchase of a 70% interest in the four prospecting licences making up the project, and covering some 325 km2.
One of the licences was contiguous to the Nachu graphite project being developed by fellow-listed Magnis Resources, and Walkabout noted that preliminary reconnaissance work by the company had revealed substantial outcropping graphite at the Lindi mine site, and initial testwork had indicated a similar graphite flake size to the Nachu project.
“In spite of the large number of graphite projects under exploration around the world, products in the jumbo category are expected to remain in strong demand through to 2020, and we intend to expedite our programme as quickly as possible to take advantage of this opportunity,” said Walkabout MD Allan Mulligan.
The company would fast-track exploration and metallurgical testwork at Lindi in order to define a suitable inferred resource.