EDITOR: | October 23rd, 2013

Lamboo Resources: Environmental and Hydrological Studies have commenced as a part of a Scoping Study for the Mcintosh Flake Graphite Project.

| October 23, 2013 | No Comments
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October 23, 2013 (Source: Lamboo Resources) — HIGHLIGHTS:

  • Baseline environmental and hydrological studies have commenced as part of an Engineering Scoping Study designed to fast track the assessment on the economics of the Mcintosh Flake Graphite Project.
  • Together with the extension of the JORC resource, these studies are required for the grant of a Mining Lease at Target 1.

The Directors of Lamboo Resources (ASX:LMB) are pleased to advise that baseline environmental and hydrological studies have commenced at the Mcintosh flake graphite project as part of the Engineering Study. These studies will form part of a planned seeping study to be conducted by Target Engineering Solutions (“TES”). TES has been appointed to work with the existing operational team to assist in the Mcintosh Seeping Study and baseline Environmental Surveys as a precursor to a more formalised environmental approval process to facilitate mining in the future.

This will fast track the Seeping Study, that will not only assess the viability of the Mcintosh Graphite Project, but will help with mine planning and production scheduling required for the project. Various throughput tonnages will be assessed and the study will utilise the current results from the optimisation of metallurgical testwork conducted by Nagrom in Perth, with additional information provided by ACTLABS in Canada and Guangzhou Research Institute for Nonferrous Metals in China towards end of the year.

Technical Director, Dr Craig Rugless, advised “the Mcintosh Project is now on the path to production – aiming for pilot plant production in 2014, once all necessary approvals have been gained”.

An indicative pricing will be estimated to develop a pilot plant targeted for late 2014 and capable of being upscaleable to a final production plant in 2015. The study will be based on the initial inferred JORC-compliant resource estimate at Target 1 (refer announcement dated g th April 20’13). The final Seeping Study will include JORC compliant resources estimates for all Targets defined to date within the Mcintosh project area. It is anticipated that the project will involve multiple sources of flake graphite located during the exploration phase and including priority targets 1 ,2, 5 and 6 (refer Figure 1 ). It is envisaged a single processing or beneficiation plant will be used and this should improve the economics of the overall project, including flake graphite targets yet to be discovered in the region.

The study will estimate capital costs (Capex), maintenance costs and operating costs (Opex) to a Class 4 (concept study) standard for mining.

The study will include estimates for the processing plant, civil works including roads, water and electrical power. It will also include preparing baseline flora and fauna databases to augment a future Environmental Seeping Document for submission to the Environmental Protection Agency (“the EPA”). This will address the requirements of a formal Part 4 (EPA Act) Environmental Approvals process (i.e. referral and EIA) that will be require in the near future. Lamboo has initiated baseline studies including flora and fauna surveys which are being conducted during the seasonal “dry” and “wet” periods in the subtropical north of Australia as well as hydrological studies. Along with the estimation of a JORC resource these studies are required for the granting of mining leases, with Target 1 representing the priority resource at present.

Competent Persons Statement

Information in this “ASX Announcement” re lating to Exploration Results and geological data has been compiled by the Technical Director of Lamboo Resources Ltd, Dr Craig S. Rugless who is a Member of the Australian Institute of Mining and Metallurgy and a Member of the Australian Institute Geoscientists. He has sufficient experience that is relevant to the types of deposits being explored for and qualifies as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” (JORC Code 2012 Edition). He consents to the inclusion of this information in the form and context in which it appears in this report.

Lamboo


Raj Shah

Editor:

Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>


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