Castle Minerals Limited (ASX: CDT) has released a maiden JORC Code (2012) Mineral Resource Estimate (MRE) of 15.6Mt at 9.0% TGC containing 1.41Mt of graphite for its flagship Kambale Graphite Project, Ghana.
The project is wholly-owned by Ghanaian subsidiary, Kambale Graphite limited.
The MRE comprises 6.0Mt at 9.1% TGC in the Indicated (39%) and 9.6Mt at 9.0% TGC in the Inferred (61%) JORC Code (2012) classifications respectively.
It is hosted by 12, sub-parallel, steep to moderately dipping schist zones extending over 2.3km north- south within a corridor up to 0.5km wide. These zones were delineated during several phases of trenching and combined 386-hole, 16,018m RAB, Air Core, RC and diamond core drilling campaigns.
Mineralization commences at or close to surface and extends to at least 120m below surface. The MRE excluded any mineralization below the 200mRL, or approximately 100m below the topographic surface.
“We are very pleased to deliver for the fast- emerging Kambale Graphite Project a robust and relatively high-grade maiden JORC Code (2012) Mineral Resource Estimate of 15.6 million tonnes grading 9.0% TGC containing 1.41 million tonnes of graphite,” Managing Director, Stephen Stone, said.
“Over one third is in the Indicated category and the next round of drilling will be designed to increase this and to capture a material amount of mineralization that could not be classified for inclusion this time around. We have also launched a campaign to locate possible new graphite occurrences within our broader 149 sq. km licence area.
“Phase 2 test work is progressing well and has now advanced to the production of a bulk concentrate that will then be assessed for its suitability to produce high-value Battery Anode Material.
“The Project is blessed with excellent infrastructure, not least being an existing largely ‘green’ hydro-electric power grid line almost to site which means a considerable capital cost saving down the track.
“Ghana has a well-established world-class mining industry and a long track record of supporting new developments. Importantly, Castle management and its Ghana technical team have successfully operated in-country and locally for some 14 years.
“The maiden MRE establishes a solid platform to take Kambale forward in an environment where there is a major disconnect between the relatively fast construction times of the numerous giga- factories now being constructed or planned and the much longer lead times to find, evaluate, finance and commission the many new graphite mines required to supply these facilities.”
For further information please visit: https://www.castleminerals.com/
