- EcoGraf(ASX:EGR) completes pre-development field programs for its Epanko graphite project in Tanzania
- It paves the way for the project’s development next year
- Expansion drilling has supported the phased increase of Epanko production, addressing growing demand from battery and electric vehicle manufacturers
- The company has its sights set on a new mineral resource estimate in the first quarter of the new year
- EcoGraf last traded at 15.3 cents
EcoGraf (ASX:EGR) has completed pre-development field programs for its Epanko graphite project in Tanzania.
The completion of fieldwork, including land delineation, preliminary asset valuation, and socio-economic surveys pave the way for the project’s development next year.
The company has recently engaged KfW IPEX-Bank to facilitate import credit cover and arrange a senior debt facility of up to US$105 million.
EcoGraf has also completed extensive drilling programs, including 1835 metres of diamond drilling (DD) and 3009 metres of reverse circulation (RC) drilling, supporting geotechnical engineering, environmental monitoring, and planned mineral resource upgrades.
The company has its sights set on a new mineral resource estimate in the first quarter of the new year.
Notable graphite assay results from drilling included 45 metres at 12.98 per cent total graphitic carbon (TGC) from three metres and 47 metres at 11.04 per cent TGC from six metres. The company received assays from 48 per cent of drillholes to date.
Expansion drilling in the previously untested southern part of the Epanko Western Zone revealed promising results, supporting a phased expansion of Epanko production from 73,000 to 300,000 tonnes per annum.
An additional 70-tonne bulk sample was excavated and collected from the Western Zone.
The company reported it would be processed through its Product Qualification Facility program in Australia to grow the scale of the EcoGraf HFfree battery anode material testing programs with prospective customers.
EGR last traded at 15.3 cents.