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Armadale Capital Plc
Summary
| Project: | Mahenge Liandu | |
|---|---|---|
| Deposit: | Mahenge Liandu | |
| Location: | Tanzania | |
| Commodities: | Graphite | |
| Date: | 11/22/2016 | |
| Report Code: | (no Code) | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 22-11-2016: Armadale Capital Plc announces an Exploration/Drilling Update report for its Mahenge Liandu deposit at the Mahenge Liandu project. Drilling results incl. 63m @ 7% TGC from 0m. Armadale, the AIM quoted investment company focused on natural reso | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Matt Bull (Not stated) | |
| ABSTRACT: | Armadale, the AIM quoted investment company focused on natural resource projects, is delighted to announce the remaining assay results from the 2016 drilling campaign at the Mahenge Liandu Graphite Project in Tanzania (‘Mahenge Liandu’ or ‘the Project’), which have demonstrated consistent, commercially viable, high-grade graphite mineralisation of up to 15.7% Total Graphitic Carbon (‘TGC’) commencing from or near the surface. William Frewen, Chairman of Armadale said: “The full assay results mark the completion of an important milestone at Mahenge Liandu. With an exceptional average grade of 9.3% TGC and intervals up to 63m from or near the surface, the Board expects resource modelling to confirm the presence of a substantial JORC compliant graphite resource, which we hope to be in a position to publish later this year. “At the macro level, recent news flow out of China has confirmed that the acceleration away from fossil fuels towards renewables is progressing faster than initially anticipated. More encouragingly is the prospect that the global uptake of renewables, particularly wind and solar, could outpace the International Energy Agency’s medium term 13% annual forecast for 2015-21. These developments further reinforce the prospect of strong future demand for natural graphite from lithium-ion battery manufacturers, which will be Armadale’s primary target market.” | |
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