Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
London-based Armadale Capital announced Friday a preliminary discovery of high-grade coarse flake graphite mineralisation close to the surface at its Mahenge Liandu project, located in the Ulanga District in southeast Tanzania.
In a report compiled by Matt Bull, who is a Member of the Australian Institute of Geoscientists, the company states that wide intervals of graphite schist, logged as high grade, have been intersected on the first reverse circulation drill line completed with mineralisation commencing from near surface.
Drilling commenced circa 2 kilometres from a previous RC drill hole, which returned 60m at 10.7% Total Graphitic Carbon.
A previous analysis of rock-chip samples conducted in June 2016 demonstrated high-grade graphite mineralisation of up to 33.8% TGC.
William Frewen, Chairman for the AIM quoted investment company, said in a press release that these latest results are encouraging.
“This preliminary discovery of high-grade coarse flake graphite mineralisation underpins our belief that Mahenge Liandu offers significant upside opportunity. Moreover, being able to announce an extension to the maiden discovery from the first line of drilling is extremely encouraging. Following the recent restructuring of the Mpokoto gold asset, which we maintain prospective exposure to, we believe these highly encouraging results firmly underpin our refocused growth strategy as we target the burgeoning graphite market, which is experiencing increasing demand from lithium-ion battery manufacturers.”
