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Walkabout Resources Ltd

Walkabout Resources set to unlock lithium, cobalt, gold and graphite opportunities

The company completed a $10 million capital raising earlier this year.

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Recently expanded its lithium exploration footprint in Namibia

Walkabout Resources Ltd (ASX:WKT) is continuing to focus on lithium exploration in Namibia along with an active cobalt exploration program in Northern Ireland.

The company is also developing a high-grade, large flake graphite project at Lindi in southern Tanzania.

READ: Walkabout Resources to target gold, base metals and cobalt at Slieve Gallion

Walkabout’s strategy in Northern Ireland is to follow a parallel exploration program focussing on gold and base metals, whilst maintaining a key interest in energy metals.

The company has built a substantial portfolio by acquiring the Northern Ireland exploration assets of Lonmin Plc (LON:LMI), an international platinum group metal producer.

Slieve Gallion project in Northern Ireland

Walkabout recently confirmed the presence of cobalt-copper-silver occurrences in quartz-sulphide veins within the Slieve Gallion project in Northern Ireland.

The company has formalised an earn-in agreement which would allow it to gain a 75% stake in Slieve Gallion through the expenditure of US$500,000.

The Slieve Gallion licence is located about 20 kilometres from the 4.4 million ounce Curraghinalt gold resource owned by Dalradian Resources (AIM:DLAR).

READ: Walkabout Resources secures equipment funding for Lindi Jumbo Graphite Project

The mining licence for Walkabout’s Lindi Jumbo Graphite Project in Tanzania is expected in Q2 2018 and construction is planned to start soon after.

Walkabout is aiming for the plant to be operational in 9 months after commencing construction, with first shipment planned for Q1 2019.

Lindi has a high-grade reserve with a planned production of 40,000 tonnes per annum at a concentrate grade of 95-97% TGC (total graphitic carbon).

READ: Walkabout Resources expands lithium exploration footprint in Namibia

The company recently expanded its Eureka Lithium Project area in the highly prospective Orange River Pegmatite Belt in southern Namibia.

The license hosts more than 120 newly mapped pegmatites that are mainly clustered in two areas of the tenement with a strike length in excess of 65 line kilometres (1,500 hectares).

Importantly, historical lithium occurrences of unknown grade have been documented on the license.

The addition of the new pegmatites brings the total number of pegmatites targeted for exploration within the Eureka Project to almost 200 with a combined strike length in excess of 90 kilometres.

Walkabout has commenced its exploration program with more than 200 rock samples currently being assayed.

Quick facts: Walkabout Resources Ltd

Price: $0.26

Market: ASX
Market Cap: $82.38 m
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Walkabout Resources' updated DFS designed to reduce start up risks for Lindi...

Walkabout Resources Ltd (ASX:WKT) executive director Allan Mulligan talks Proactive Investors through the enhanced outcomes of an updated Definitive Feasibility Study (DFS) for the Lindi Jumo Graphite Project in Tanzania. Mulligan explains that capital costs have been reduced, and that...

on 12/3/19

3 min read