Published: July 12, 2016 |

[Click image to enlarge]

Armadale has acquired the Mahenge Liandu Graphite Project in south-east Tanzania.

The acquisition furthers Armadale’s strategy to build a portfolio of highly valuable African resource projects with near term revenue generation potential and complements the wider portfolio including Mpokoto Gold Project, which has near term production potential. Graphite has been identified by Armadale as a high-demand strategic commodity and they plan to capitalize on the strong outlook for graphite from the burgeoning battery market. The Liandu Project has high grade coarse flake graphite — demonstrated with up to 33.8 percent total graphite content (TGC) from the rock chip sampling and previous drilling confirmed 60m @ 10.7 percent TGC, including 24m @ 12.9 percent TGC and 5m @ 21.5 percent TGC. An exploration program is underway and drilling campaign is anticipated to commence in Q3 2016.

“Graphite has been identified and prioritised by the Armadale team as a high demand commodity with significant strategic value as an essential component of the modern lithium-ion battery. The Liandu Project provides Armadale with ground-floor access to this rapidly growing market whilst limiting exploration risk, due to the project’s location in a premier graphite bearing region, which includes being contiguous to well established high grade graphite projects. We are now preparing to launch our initial exploration programme at Liandu, with drilling to commence in the coming weeks, and we look forward to newsflow stemming from this work over the course of 2016, including a maiden resource,” said Peter Marks, chairman of Armadale.

“I believe that this diversification of our commodity focus provides Armadale shareholders with an interesting and complementary investment profile; with exposure to a commodity with exciting growth prospects in graphite, coupled with the traditional safe-haven and store of value in gold, Armadale is strategically positioned for growth. I believe this offers existing and potential new shareholders with a unique development opportunity and I look forward to reporting further on both sides of our exploration and development portfolio over the coming months,” added Marks.

To read more details in the company’s press release, CLICK HERE

About Armadale
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.

To stop by Armadale’s website, CLICK HERE

Be in-the-know when you’re on-the-go!

FREE eNews delivery service to your email twice-weekly. With a focus on lead-driven news, our news service will help you develop new business contacts on an on-going basis.
CLICK HERE to register your email address.

Copyright © 2016 Mining Connection LLC. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.

For licensing permission, .(JavaScript must be enabled to view this email address)