Armadale Capital: Significant Resource Upgrade for Armadale Capital – 25% Increase in the Known Graphite Resource

Armadale, the AIM quoted investment company focused on natural resource projects in Africa, is pleased to announce a Resource upgrade at the Mahenge Liandu Graphite Project in Tanzania (‘Mahenge Liandu’).

As quoted in the press release:

Nick Johansen, Director of Armadale said: “A 25% increase in the known graphite resource is a significant achievement. Add to this the fact that over 75% of the resource is now in the indicated category and it is clear to see both the value of our project and the success of our work programmes to-date. We are committed to maintaining this pace of development, and testament to this we are pleased to confirm that mine planning has now commenced. The results of this, together with the expanded and upgraded resource, will feed into the on-going Scoping Study, which is targeted for completion by the end of Q1 2018 and will give further clarity on the commercial potential of Mahenge Liandu. Critically, our Project has already been proven to be one of the highest-grade graphite deposits in Tanzania, and with significant amounts of this mineralisation located near surface we will be able to commence mining via staged development, which will help fast-track to production and also lower the capital development and operating costs early in the mine life. We look forward to providing shareholders with further updates on our progress in the near term.”

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