TIDMACP
Armadale Capital Plc / Index: AIM / Epic: ACP / Sector:
Investment Company
29 September 2017
Armadale Capital Plc ('Armadale' or 'the Company')
High Value Graphite Concentrate with +48% in Super Jumbo, Jumbo
and Large Flake Size Produced
Armadale, the AIM quoted investment company focused on natural
resource projects in Africa, is pleased to announce that further
test work on the bulk sample from the Mahenge Liandu Graphite
Project in Tanzania ('Mahenge Liandu' or 'the Project') has
produced improved flake size distribution while maintaining very
high levels of purity, as tested via a simple flotation
process.
Highlights:
-- Results demonstrate the Project's ability to produce high quality,
graphite concentrates, which would be suitable for a number of
high
value commercial applications
-- Potential end users that requires high levels of purity include the
battery anode market and larger flake size distribution favours
the
expandable graphite markets
-- Bulk sample was processed on a conventional crushing and flotation
circuit and indicates that concentrates of excellent quality can
be
produced from Mahenge Liandu
-- Reduced grind time has improved the flake size while also achieving an
excellent concentrate purity of up to 98.5% TGC from individual
size
fractions, with an overall average of 97.8% purity
-- Super Jumbo flake size of 500µm and above was improved from 1.3% to
3.6% and Jumbo flake size above 300µm from 15.3% to 20.9%
-- Size distributions of 500µm, 300µm, 180µm, 106µm and 75µm produced
purity of 97.6% or above
-- Assay results from recently completed Reverse Circulation ('RC')
drilling programme are expected in the coming weeks
-- Work continues to enhance the current high-grade JORC compliant
inferred mineral resource estimate of 40.9Mt @ 9.41% Total
Graphitic
Content ('TGC'), of which at least 32Mt has an average grade of
10.47%
TGC - a further update is expected in Q4 2017
Nick Johansen, Director of Armadale said, "These further results
continue to underpin our belief that we have a sizeable, commercial
and strategically important asset in Mahenge Liandu. Results from
the RC drilling programme and our upcoming updated resource report
should provide investors with further confidence that Mahenge
Liandu is shaping up to be a major new graphite development
project. With this in mind, we look forward to updating the market
on our ongoing drill programme and development activities in the
coming weeks and months."
Further Information
Test work was conducted on a representative sample from a 300kg
bulk sample of graphite mineralisation. 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. A large proportion of almost 80% of the
concentrate is also in the higher value larger flake size fractions
over 106µ and improvement from 75% from earlier test work. 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 3.6 97.7
> 300 µm 20.9 97.8
> 180 µm 23.6 97.8
> 150 µm 18.4 98.0
> 106 µm 13.3 98.2
> 75 µm 7.9 97.6
< 75 µm 3.6 95.2
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/20170928005893/en/
This information is provided by Business Wire
(END) Dow Jones Newswires
September 29, 2017 02:00 ET (06:00 GMT)
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