("StratMin" or the "Company")
Exploration Program Update
Identification of Significant New Mineralisation
· The deliverables of this exploration program were:
· The completion of a detailed topographical survey of the entire area
· To confirm the continuity of known mineralisation
· To improve grade control
· The topographical mapping survey has been completed and will assist in operations and expansion planning.
· Geophysics was deployed over the Loharano and Mahefadok areas and anomalies are highly correlated to known graphite mineralisation.
· Significant new anomalous zones have been identified.
· In conjunction with StratMin's funding partner, Bass Metals Ltd, and subject to confirmatory testing of the newly identified zones, Stratmin will accelerate the development of the planned 12,000 tpa flake graphite concentrate plant adjacent to the current plant.
· A high-resolution model of the mine area was completed which will enable detailed planning for mining and grade control.
· Consistency in the plant feed has been significantly improved.
"The first phase of the exploration program has delivered excellent results and we are very excited with the potential for additional mineralisation not previously detected. Early exploration relied heavily on identifying outcropping mineralisation near old French era workings, however with the deployment of geophysics, StratMin has quickly, and at low cost, been able to re-assess the potential of the entire area. The newly identified target areas are completely under cover and have therefore been historically overlooked, but represent a significant economic opportunity.
"Subject to follow up testing confirming mineralisation we hope to have sufficient graphitic ore in the existing operational area to support a significant expansion program. Following this, further development at StratMin's adjacent site, Mahefadok, would be funded through cash flow.
"The impact of robust grade control measures has been immediately tangible. The mine is now delivering a more consistent feed into the processing plant and, critically, avoiding stressing the plant with low grade and deleterious materials. This has provided processing and efficiency gains across the board, but especially in the higher input cost milling and floatation processes. This optimisation is a key element to extracting maximum return from already invested capital.
"I am delighted with the progress that StratMin has made over the last few months and look forward to updating shareholders in due course."
For further information please visit www.stratminglobal.com or contact:
+44 (0) 20 3691 6160
+44 (0) 20 7409 3494
+44 (0) 20 7382 8300
Blytheweigh (Financial PR)
+44 (0) 20 7138 3204
This information is provided by RNS