Stratmin Global Resources PLC Exploration Program Update (5397G)
23 November 2015 - 8:00AM
UK Regulatory
TIDMSTGR
RNS Number : 5397G
Stratmin Global Resources PLC
23 November 2015
23 November 2015
StratMin Global Resources Plc
("StratMin" or the "Company")
Exploration Program Update
Identification of Significant New Mineralisation
StratMin Global Resources Plc (AIM: STGR), London's only listed
graphite production and exploration company, announces continued
success in its ongoing exploration program.
Summary:
-- In August 2015, StratMin initiated an extensive exploration
program over the Loharano and Mahefadok project areas.
-- 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.
Brett Boynton, CEO, commented:
"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:
StratMin Global Resources Plc +44 (0) 20
Brett Boynton, CEO 3691 6160
Strand Hanson (Nominated & Financial
Adviser)
Rory Murphy / James Spinney / +44 (0) 20
Ritchie Balmer 7409 3494
Beaufort Securities (Broker) +44 (0) 20
Jon Belliss 7382 8300
Blytheweigh (Financial PR) +44 (0) 20
Camilla Horsfall / Megan Ray 7138 3204
This information is provided by RNS
The company news service from the London Stock Exchange
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