Flinders Resources Limited (“Flinders” or the “Company”) (TSXV: FDR) is pleased to announce a near three times expansion of flake graphite mineral resources at the Company’s Woxna graphite project in Sweden. All mineral resources lie upon fully granted Mining Leases, within the vicinity of the operational Woxna graphite mine.
This significantly expanded mineral resource, calculated in accordance with Canadian Institute of Mining, Metallurgy, and Petroleum (“CIM”) guidelines, includes for the first time two 100%-owned flake graphite deposits at Gropabo and Mattsmyra. These resources lie upon fully granted Mining Leases, located 18km and 22km respectively from the Woxna mine and processing plant. These new resources add to the previously announced mineral resource at the Kringelgruvan mining lease (refer to Flinders’ release dated September 3, 2013 Tables 1 and 2). Flinders’ 100% Woxna project is comprised of four separate mining concessions.
Blair Way, President & CEO states, “Woxna’s measured and indicated graphite resources have increased approximately three-fold from 2.8Mt @ 10.7% Cg to 7.7Mt @ 9.3% Cg with this updated measured and indicated resource calculation. All resources are contained within granted mining leases. Expanding the resource base so close to our fully operational processing plant at Woxna, will provide more flexibility and confidence when planning for future expansions from the current 13,000t/yr graphite production capacity. This is a significant milestone for our business in Sweden.”