JOHANNESBURG (miningweekly.com) – Aim-listed Armadale Capital on Tuesday said the 2016 drilling campaign at the Mahenge Liandu graphite project, in Tanzania, had demonstrated consistent, commercially viable, high-grade graphite mineralisation of up to 15.7% total graphitic carbon (TGC) commencing from or near the surface.
“The full assay results mark the completion of an important milestone at Mahenge Liandu. With an exceptional average grade of 9.3% TGC and intervals up to 63 m from or near the surface, the board expects resource modelling to confirm the presence of a substantial Joint Ore Reserves Committee-compliant graphite resource, which we hope to be in a position to publish later this year,” said CEO William Frewen.
He added that the global move away from fossil fuels towards renewable energy was progressing faster than initially anticipated.
“More encouraging is the prospect that the global uptake of renewables, particularly wind and solar, could outpace the International Energy Agency’s medium term 13% annual forecast for 2015 to 2021. These developments further reinforce the prospect of strong future demand for natural graphite from lithium-ion battery manufacturers, which will be Armadale’s primary target market.”