Aim-listed Armadale Capital has announced “exceptionally” high-grade results from a drilling programme at its Mahenge Liandu graphite project, in Tanzania.
A definitive feasibility study (DFS) on the project is on track to be completed during the fourth quarter of this year.
Some of the positive outcomes in the DFS will include a higher average grade from near-surface mining in early years and low extraction costs.
Of the company’s first four holes assayed, totalling 262 m, Armadale recorded intercepts including 7 m at 16.9% total graphite content (TGC) from 31 m and 9 m at 14.8% TGC from surface.
Armadale said these encouraging results were part of a broader zone of high-grade mineralisation, which included 39 m at 11.2% TGC from surface and 57 m at 7.6% TGC from surface.
Meanwhile, Armadale continues with its 18-hole reverse circulation drilling programme totalling 958 m.