1.2km Mineralised Strike Identified at Mahenge Liandu Graphite
Project
Armadale Capital Plc
Armadale Capital Plc / Index: AIM / Epic: ACP / Sector: Investment
Company
17 August 2017
Armadale Capital Plc (‘Armadale’ or ‘the Company’)
1.2km Mineralised Strike Identified at Mahenge Liandu Graphite Project
Armadale, the AIM quoted investment company focused on natural resource
projects in Africa, is pleased to announce the completion of the first
phase of Reverse Circulation (‘RC’) drilling at its Mahenge Liandu
Graphite Project in Tanzania, with wide zones of near surface
mineralisation intersected over a strike length of 1,200m. Test work on
the bulk sample is now well underway with initial metallurgical test
work results showing good recoveries and the production of final
graphite concentrates is expected in the coming weeks.
Overview
-
First phase of RC drilling completed targeting zones of high grade
near surface mineralisation with potential for priority mining in the
Mahenge Liandu mine plan
-
24 of the 25 holes returned intersected at or near surface
mineralisation confirming a consistent area of near surface
mineralisation over a strike length of 1,200m
-
Preliminary on-site review of the drilling gives management confidence
that an increase in the Resource size and category will be achieved
over the maiden JORC resource estimate of 40.9MT @ 9.41% Total
Graphite Carbon (‘TGC’)
-
A second drill programme aimed at increasing the Resource category
over a strike length of 2,400m is planned to commence once results of
the first phase are returned
-
Geological mapping to identify potential extensions has discovered
additional areas of graphite mineralisation previously untested
-
Bulk sample underway, with initial results showing a 21.3% TGC head
grade and confirming high levels of recovery of above 98% are
achievable at the rougher stage
-
Multi element analysis on the bulk sample show low levels of
potentially deleterious elements
-
Concentrates from the bulk sample are expected in the coming weeks and
will be reported in due course
Nick Johansen, Director of Armadale said, “The potential for
Mahenge Liandu to host a significant, commercially attractive graphite
mining operation continues to be fuelled by these consistently
encouraging drill results. Following the completion of our first phase
of exploration drilling in the 2017 season, we are delighted to report a
consistent area of near surface mineralisation over a strike length of
1,200m, underpinning the scale of this emerging graphite project. With a
second phase of drilling being planned, plus geological mapping
evaluating possible extensions to the deposit on the wider licence area,
I am confident that our maiden JORC Resource estimate of 40.9Mt at 9.41%
TGC, which is already one of the largest in Tanzania, has significant
room for expansion.”
Drilling Programme Update
The first phase of drilling on a 200m by 80m pattern is now complete
over a strike length of 1,200m with a total of 25 holes now completed.
The results continue to indicate wide zones of near surface
mineralisation over the full strike length, which is expected to cover
the area of the initial pit. Several holes had mineralisation much wider
than expected up to 105 from surface. Within this areas of high-grade
have been logged. Assay from the drilling programme will be released
when the results come to hand.
|
Hole ID
|
|
Easting
|
|
Northing
|
|
Total Depth
|
|
From
|
|
To
|
|
Width
|
|
|
LDRC0022
|
|
251,673
|
|
9,035,201
|
|
65
|
|
0
|
|
58
|
|
58
|
|
|
LDRC0023
|
|
251,855
|
|
9,035,275
|
|
51
|
|
0
|
|
46
|
|
46
|
|
|
LDRC0024
|
|
251,821
|
|
9,035,352
|
|
33
|
|
0
|
|
29
|
|
29
|
|
|
LDRC0025
|
|
251,896
|
|
9,035,210
|
|
34
|
|
0
|
|
28
|
|
28
|
|
|
LDRC0026
|
|
251,785
|
|
9,035,419
|
|
63
|
|
0
|
|
55
|
|
55
|
|
|
LDRC0027
|
|
251,758
|
|
9,035,495
|
|
63
|
|
0
|
|
58
|
|
58
|
|
|
LDRC0028
|
|
251,938
|
|
9,035,596
|
|
41
|
|
0
|
|
20
|
|
20
|
|
|
LDRC0029
|
|
251,976
|
|
9,035,515
|
|
50
|
|
0
|
|
37
|
|
37
|
|
|
LDRC0030
|
|
251,909
|
|
9,035,660
|
|
19
|
|
0
|
|
3
|
|
3
|
|
|
LDRC0031
|
|
252,010
|
|
9,035,443
|
|
63
|
|
6
|
|
56
|
|
50
|
|
|
LDRC0032
|
|
252,043
|
|
9,035,371
|
|
57
|
|
13
|
|
46
|
|
33
|
|
|
LDRC0033
|
|
251,728
|
|
9,035,571
|
|
61
|
|
11
|
|
54
|
|
43
|
|
|
LDRC0034
|
|
251,694
|
|
9,035,642
|
|
48
|
|
0
|
|
3
|
|
3
|
|
|
|
|
|
|
23
|
|
27
|
|
4
|
|
|
LDRC0035
|
|
251,653
|
|
9,035,504
|
|
74
|
|
37
|
|
68
|
|
31
|
|
|
LDRC0036
|
|
251,620
|
|
9,035,351
|
|
33
|
|
0
|
|
10
|
|
10
|
|
|
LDRC0037
|
|
251,642
|
|
9,035,283
|
|
69
|
|
0
|
|
58
|
|
58
|
|
|
LDRC0038
|
|
251,588
|
|
9,035,433
|
|
63
|
|
0
|
|
55
|
|
55
|
|
|
LDRC0039
|
|
251,461
|
|
9,035,183
|
|
66
|
|
0
|
|
58
|
|
58
|
|
|
LDRC0040
|
|
251,432
|
|
9,035,265
|
|
56
|
|
0
|
|
48
|
|
48
|
|
|
LDRC0041
|
|
251,395
|
|
9,035,330
|
|
79
|
|
0
|
|
75
|
|
75
|
|
|
LDRC0042
|
|
251,494
|
|
9,035,112
|
|
60
|
|
10
|
|
54
|
|
44
|
|
|
LDRC0043
|
|
251,527
|
|
9,035,039
|
|
33
|
|
2
|
|
4
|
|
2
|
|
|
LDRC0044
|
|
251,566
|
|
9,034,969
|
|
93
|
|
17
|
|
21
|
|
4
|
|
|
|
|
|
|
45
|
|
87
|
|
42
|
|
|
LDRC0045
|
|
251599.9
|
|
9034896.8
|
|
50
|
|
No mineralisation
intercepted
|
|
n/a
|
|
|
LDRC0046
|
|
251267.87
|
|
9035127.1
|
|
105
|
|
0
|
|
105
|
|
105
|
|
Table 1 Graphite intercepts from 2017 drilling programme –
results in italics were previously reported August 2017 (see RNS dated 1
August 2017 for further information)
The information in this announcement that relates to exploration results
is based on information compiled by Mr Matt Bull, a competent person,
who is a Member of the Australian Institute of Geoscientists. Mr Bull
has sufficient experience which is relevant to the style of
mineralisation and type of deposit under consideration and to the
activity which he is undertaking to qualify as a competent person as
defined in the 2012 Edition of the “Australasian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves”. Mr Bull
consents to the inclusion in the report of the matters based on his
information in the form and context in which it appears.
The information communicated in this announcement contains inside
information for the purposes of Article 7 of the Market Abuse Regulation
(EU) No. 596/2014.
**ENDS**
|
Enquiries:
|
|
|
|
|
Armadale Capital Plc
Tim Jones, Company Secretary
|
|
+44 20 7236 1177
|
|
|
Nomad and broker: finnCap Ltd
Christopher Raggett / Simon Hicks
|
|
+44 20 7220 0500
|
|
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Joint Broker: Beaufort Securities Limited
Jon Belliss
|
|
+44 20 7382 8300
|
|
|
Press Relations: St Brides Partners Ltd
Susie Geliher / Charlotte Page
|
|
+44 20 7236 1177
|
|
Notes
Armadale Capital Plc is focused on investing in and developing a
portfolio of investments, targeting the natural resources and/or
infrastructure sectors in Africa. The Company, led by a team with
operational experience and a strong track record in Africa, has a
strategy of identifying high growth businesses where it can take an
active role in their advancement.
The Company owns the Mahenge Liandu graphite project in south-east
Tanzania, which is now its main focus. The Project is located in a
highly prospective region with a high-grade JORC compliant inferred
mineral resource estimate of 40.9Mt @ 9.41% TGC. At least 32Mt of this
resource has an average grade of 10.47% TGC, one of the largest
high-grade resources in Tanzania, and work to date has demonstrated
Mahenge Liandu’s potential as a commercially viable deposit with
significant tonnage, high-grade coarse flake and near surface
mineralisation (implying a low strip ratio) contained within one
contiguous ore body.
Other assets Armadale has an interest in include the Mpokoto Gold
project in the Democratic Republic of Congo and a portfolio of quoted
investments.
More information can be found on the website www.armadalecapitalplc.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170816005702/en/