EcoGraf Ltd Boosts Graphite Resource And Development Potential At Epanko In Tanzania

EcoGraf Ltd (ASX: EGR) has captured a 127% increase in the resource base at its development-ready Epanko Graphite Project in Tanzania following successful drill and trenching in 2023.

The new resource now stands at 290.8 million tonnes at 7.2% TGC for 21.0 million tonnes of contained graphite.

Adding to the confidence level in the resource, there was a 39% increase in Measured and Indicated categories to a total of 6.7 million tonnes.

This update paves the way for an expansion to the project metrics of up to 300,000 tonnes per annum.

There is considerable opportunity for growing the resource base further as the deposit remains open along strike and down dip. With the deposit width up to 210 metres, significantly, the project could boast low strip ratios, enhancing the project returns.

Drilling and trenching confirm the massive electromagnetic high is one contiguous graphitic unit.

Aiming to fast-track development

EcoGraf is building a vertically integrated battery anode materials business to produce high-purity graphite products for the lithium-ion battery and advanced manufacturing markets.

Over US$30 million has been invested to date to create a graphite mining and mineral processing business.

The objective is to develop the TanzGraphite natural flake graphite business, commencing with the Epanko Graphite Project, to provide a long-term, scalable supply of feedstock for EcoGraf battery anode material processing facilities.

This is in tandem with high-quality large flake graphite products for specialised industrial applications.

EcoGraf held over $30 million in cash at the end of 2023.

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