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Cougar Metals NL
Summary
| Project: | Toamasina | |
|---|---|---|
| Deposit: | Main Zone | |
| Location: | Madagascar | |
| Commodities: | Graphite | |
| Date: | 8/31/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 31-8-2017: Cougar Metals NL announces an Exploration/Drilling Update report for its Main Zone deposit at the Toamasina project. JV with DNI Metals Inc. - Drilling results incl. 51.0m @ 6.37% GC from 201.0m. Cougar Metals NL (“Cougar” or “Company”) (ASX: C | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Steven Goertz (Hendry Consulting Sarl) | |
| ABSTRACT: | Cougar Metals NL (“Cougar” or “Company”) (ASX: CGM) is pleased to provide further drilling results from the Toamasina Saprolitic Graphite Project, Madagascar. Cougar is earning a 50% interest in the Project by completing a PEA to NI 43-101 standards utilising a minimum of 3000m of drilling and 1000m of trenching. The latest drill results comprise of a further sixteen holes (16) holes and one trench from the Main Zone and complement the results from the initial results of 3 holes released to the ASX on 27 July. The board of Cougar view these initial results as excellent and are in alignment with the expectations for the project. Randal Swick, Cougar’s Executive Chairman comments: “The grade and width intervals coupled with the large flake sizes and high quality graphite from the project are very pleasing. These qualities, coupled with the project’s other excellent metrics of a highway traversing the project, a major port within 50km, weathered lithology removing the need for expensive drilling, blasting, crushing and grinding processes are providing shareholders with a very exciting opportunity. The flake sizes and graphite quality we have seen at the project so far are matched by very few other projects – none of which have the full complement of the other attractive attributes of this project. We are also pleased to see our partner - DNI Metals Inc taking pro-active steps in advancing this low cost, high margin opportunity towards early production.” | |
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