Stratmin Global Res - Positive Exploration Results
RNS Number : 5385M
Stratmin Global Resources PLC
17 July 2014
 



17 July 2014

 

StratMin Global Resources Plc

("StratMin" or the "Company")

 

Positive Exploration Results Show New Graphite Mineralisation

 

StratMin (AIM: STGR), the graphite production and exploration company with assets in Madagascar, today announces positive exploration results at its Loharano property, which confirm the presence of previously unidentified graphite mineralisation adjacent to its producing deposit.

 

The Loharano property includes the actively mined and producing Loharano graphite deposit, several historical graphite deposits, mapped graphitic gneiss units and conspicuously mineralised prospects.

 

At the northern part of the Loharano property, approximately 1,500 metres south east of the Loharano producing deposit, is the Mahefadok prospect. Four recently excavated pits here have revealed significant regolith (weathered material that occurs above unweathered bedrock) hosted graphite mineralisation at depth. These pits were excavated over a north-south distance of approximately 70 metres and the Company's in-house laboratory analysis of the pit samples included three metres at 7.04 per cent total carbon.

 

This newly identified graphite mineralisation occurs approximately 500 metres north of two mapped north-south graphitic gneiss units and could represent a possible extension. The Company has therefore decided to embark upon a well-defined exploration programme of the Mahefadok prospect and the graphitic gneiss units to the south in order to establish the extent of the regolith-hosted graphite mineralisation.

 

The exploration programme will take place over the coming months and will include geological observations, pitting and trenching, and possibly ground geophysical surveying (magnetics and electromagnetics) subject to the outcome of preliminary test traverses.

 

 

Manoli Yannaghas, Managing Director, commented;

 

"These results are extremely encouraging for the Company. Our exploration efforts have confirmed the presence of significant graphite mineralisation beyond the Loharano deposit and we expect that the forthcoming systematic exploration will result in the delineation of additional graphite resources.

 

"We look forward to updating shareholders over the coming months on both this exploration programme, and our ongoing production and sales progress."

 

 

Company Presentation


The Company is also pleased to announce that it has published an updated version of the Company's investor presentation on its website, www.stratminglobal.com

 

 

Qualified Person Review

 

The information in this announcement that relates to the exploration results has been reviewed by Mr. Jannie Leeuwner, BSc (Hons), who is a full-time employee of Vato Consulting LLC. Mr. Leeuwner is a registered Professional Natural Scientist (Pr.Sci.Nat) with the South African Council for Natural Scientific Professional (SACNASP) and a "Qualified Person" as defined in the AIM Note for Mining Oil & Gas Companies - June 2009, of the . Mr. Leeuwner consents to the inclusion of the information in this release in the form and context in which it appears.

 

 

For further information please visit www.stratminglobal.com or contact:

 

StratMin Global Resources Plc

Manoli Yannaghas (Managing Director)

 

+44 (0) 20  3691 6160

Strand Hanson (Nomad & Financial Adviser)

James Spinney / Ritchie Balmer

 

+44 (0) 20 7409 3494

Hume Capital Securities Plc (Sole Broker)

Jon Belliss / Abigail Wayne

+44 (0) 20 3693 1470

Blytheweigh (Financial PR) 

Tim Blythe / Halimah Hussain / Camilla Horsfall

+44 (0) 20 7138 3204

 

 

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