TIDMACP
Armadale Capital Plc / Index: AIM / Epic: ACP / Sector:
Investment Company
7 September 2017
Armadale Capital Plc ('Armadale' or 'the Company')
Exceptional Graphite Concentrate of up to 99.1% Graphitic Carbon
Produced from Mahenge Liandu
Armadale, the AIM quoted investment company focused on natural
resource projects in Africa, is pleased to announce that test work
on a 300kg bulk sample of graphite mineralisation taken from the
Mahenge Liandu Project ('Mahenge Liandu' of the 'Project') in
Tanzania has produced graphite concentrates with exceptional purity
of up to 99.1% total graphitic carbon ('TGC') using a simple
crushing and flotation circuit.
Highlights:
-- Graphite concentrate purity of up to 99.1% TGC was produced from
individual size fractions with an overall average of 98.8% TGC
purity
-- Excellent flake size distributions were maintained through the process
with 75% in the higher value sizes above 106µ
-- Bulk sample was processed using a conventional crushing and flotation
circuit, indicating that concentrates of excellent quality can
be
produced with relatively low processing cost
-- Results underpin the Project's potential to produce high quality,
commercial graphite concentrates, which should be suitable for
a
number of applications, including the rapidly growing battery
market
-- Assay results from recent Reverse Circulation drilling programme are
expected to be returned in the coming weeks - initial results
confirm
wide zones of near surface mineralisation over a strike length
of 1.2km
-- Second phase drill programme to commence in coming months to increase
quantum and confidence category of current high-grade JORC
compliant
inferred mineral resource estimate of 40.9Mt @ 9.41% TGC, of
which at
least 32Mt has an average grade of 10.47% TGC
Nick Johansen, Director of Armadale said, "These results are a
significant achievement as they show that extremely high-quality
graphite concentrate can be produced from Mahenge Liandu using
relatively simple and ultimately low cost processing methods.
Accordingly, this has the potential to have very positive
implications for the capex and opex requirements of our Project. We
now look forward to further proving up the Project's resource
potential through our two-phase drill programme, which is well
advanced with results due from the first stage in the coming
weeks."
Further Information
Test work was conducted in Perth, Australia, on a representative
sample from a 300kg bulk sample of graphite mineralisation taken
from Mahenge Liandu. The results show excellent purity and flake
size distribution can be produced using a conventional graphite
processing circuit. These results, when combined with previously
announced expandability and upgraded purity results up to 99.99%
TGC, show the Project has the potential to produce a range of
high-quality downstream products for a range of rapidly growing
markets. Importantly, a large proportion, almost 75%, of the
concentrate is also in the higher value larger flake size fractions
over 106µ. The results for all size fractions are shown in Table 1
below for each size fraction.
Table 1. Results of Bulk sample graphite concentrate flake
distribution and purity.
Flake Size (µm) Distribution Purity
> 500 µm 1.3 99.0
> 300 µm 15.3 99.0
> 180 µm 22.6 99.1
> 150 µm 19.9 98.9
> 106 µm 15.3 99.1
> 75 µm 10.3 99.1
< 75 µm 15.1 97.6
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 +44 20 7236 1177
Tim Jones, Company Secretary
Nomad and broker: finnCap Ltd +44 20 7220 0500
Christopher Raggett / Simon Hicks
Joint Broker: Beaufort Securities Limited +44 20 7382 8300
Jon Belliss
Press Relations: St Brides Partners Ltd +44 20 7236 1177
Susie Geliher / Charlotte Page
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/20170906006446/en/
This information is provided by Business Wire
(END) Dow Jones Newswires
September 07, 2017 02:00 ET (06:00 GMT)
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