29th Aug 2018 13:11
LONDON (Alliance News) - Armadale Capital PLC on Wednesday said it has completed the diamond drilling programme at its Mahenge Liandu graphite project in Tanzania.
Shares in Armadale were up 0.4% at 1.68 pence on Wednesday.
The Africa-focused natural resources investor said the programme was complete, with eight holes and a total of 489 metres drilled. All eight holes intersected mineralization from surface with thicknesses averaging 55 metres with a maximum of 67 metres and a minimum of 48 metres.
Armadale also said that the results of this campaign correlate well to its previous reverse circulation drilling back in 2017. Another reverse circulation drilling campaign is also underway, but delays from a rig breakdown mean it is not due to finish until mid-September.
Field work has now been completed for the company's environmental and social baseline surveys. The environmental impact assessment, relocation action plan, and valuation survey are due to complete in late September.
"The area drilled covers our proposed initial mining area and the results of the drilling will be incorporated into our mine planning over the coming months," said Armadale Director Nick Johansen.
"Drilling continues on site, however the bulk of our activities are now focussed on the completion of the environmental impact assessment, relocation plan and valuation survey – all critical components of our development plan as we target first production within 12 to 18 months," Johansen added.
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