Saturday , February 24 2024

Walkabout sees flicking light on Lindi Jumbo

Walkabout Resources Ltd is engaged in ongoing dialogue with Tanzanian government to pave way for progress on the Lindi Jumbo Graphite Project.

The company is talking to authorities at the highest level of government in a meaningful dialogue with the ministry of mines of Tanzania.

“The only outstanding matter pursuant to the restructure of the Ministry according to the amendments to the Mining Act 2010, is the final appointment of the Mining Commissioner in terms of Section 21 of Special Bill Supplement No.4 of 28 June 2017,” said the company.

Walkabout Resources is confident that once this appointment has been finalised, progress will be made and permitting functions within the ministry will be resumed.

On the sidelines the company has taken note of the recent increase in the price of vanadium minerals and has commenced an economic study to determine the potential for by-product credits from the production of vanadium pentoxide from the Lindi Graphite Project.

The existing Lindi Jumbo Graphite resource contains a JORC (2012) Inferred Resource of 24,100 tonnes of contained V2O5 (ASX announcement 19 January 2016).

The in-situ grade is 0.2% V2O5. No update of this Inferred Resource of V2O5 has been undertaken to date.

“The collection and processing of vanadium from the Lindi Jumbo tailings stream is expected to enhance project economics. Lindi Jumbo Hydrology a detailed hydrological survey detailing a sustainable water source for operational activities has been completed within the Lindi Jumbo Mining Licence application area.”

According to the company the hydrological drilling and the development of the extraction well-farm is due to commence during the current quarter.

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