Stratmin Global Resources PLC Positive Exploration Results (5385M)
July 17 2014 - 2:00AM
UK Regulatory
TIDMSTGR
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
London Stock Exchange. 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 +44 (0) 20 3691
Manoli Yannaghas (Managing Director) 6160
Strand Hanson (Nomad & Financial Adviser) +44 (0) 20 7409
James Spinney / Ritchie Balmer 3494
Hume Capital Securities Plc (Sole Broker) +44 (0) 20 3693
Jon Belliss / Abigail Wayne 1470
Blytheweigh (Financial PR) +44 (0) 20 7138
Tim Blythe / Halimah Hussain / Camilla Horsfall 3204
-ends-
This information is provided by RNS
The company news service from the London Stock Exchange
END
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