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Armadale Capital Plc
Summary
| Project: | Mahenge Liandu | |
|---|---|---|
| Deposit: | Mahenge Liandu | |
| Location: | Tanzania | |
| Commodities: | Graphite | |
| Date: | 11/7/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 7-11-2017: Armadale Capital Plc announces an Exploration/Drilling Update report for its Mahenge Liandu deposit at the Mahenge Liandu project. Drilling results incl. 14m @ 16.7% TGC from 0m. Armadale, the AIM quoted investment company focused on natural re | |
| Resources: | (Resource, Inf.): 40.9Mt @ 9.41% TGC | |
| CP/QP: | [Overall Report]: Matt Bull (Not stated) | |
| ABSTRACT: | Armadale, the AIM quoted investment company focused on natural resource projects in Africa, is pleased to announce the results of a recent 1,500m 28-hole reverse circulation drill programme completed at the Mahenge Liandu Graphite Project in Tanzania (‘Mahenge Liandu’). “The current resource is one of the largest high-grade deposits in Tanzania and work to date has demonstrated Mahenge Liandu’s potential as a commercially viable deposit thanks to its significant tonnage, high-grade coarse flake and near surface mineralisation, which is contained within one contiguous ore body. Crucially, we continue to see significant potential within the asset, and the results from the recent drill work are testament to this. With highs of 18.5% TGC and wide zones of mineralisation identified typically averaging 8-10% TGC, we are very excited for the imminent increase in JORC resource, which we expect to be in a position to deliver by the end of the year.”The near surface high grade zones confirmed by the current round of drilling points towards cost effective production of a premium graphite product for sale to the market and is further validation of the Company’s two stage development plan. The Company anticipates being able to complete a 400,000tpa feasibility study in Q2 2018 as we continue to develop the world class Mahenge Liandu project through to production. We look forward to further significant updates to the market over the coming months. The drilling was carried out on a 200m by 80m pattern over a strike length of 1,200m with a total of 27 holes completed. The results confirm consistent zones of mineralisation staring from at or near surface typically 8-10% TGC. | |
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