Armadale reports Mahenge Liandu Graphite Project in Tanzania 'well underway'
Source - SMW
Armadale, an investment company focused on natural resource projects in Africa, said the exploration and development programme at the Mahenge Liandu Graphite Project in Tanzania is well underway for 2018.
Armadale said 'the deposit remained open to the north-south and down dip' with significant potential for expansion with further drilling.
The company also said that a study to the east of the Mahenge Liandu deposit highlighted potential for a second deposit within the licence area with medium to high grade outcropping mineralisation mapped in a north-south trending unit over 5km of strike.
A scoping study for the project, meanwhile, was said to be progressing well and is expected by the end of first quarter 2018.
Nick Johansen, Director of Armadale said: 'We are pleased at the progress we are making in developing Mahenge Liandu and hope to see an upgrade to the mineral resource estimate by the end of February, which we believe will provide investors, and potential end users, with a better sense of the size and scale of our Mahenge Liandu project.'
'In addition to proving up the resource potential of the Project, these results will feed into the ongoing Scoping Study, which remains on track for completion in Q1 2018, marking an important milestone in the advancement of our project.'
At 9:14am: (LON:ACP) Armadale Capital PLC share price was +0.13p at 2.38p