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Metals of Africa intersects 145m high grade graphite in first hole

Last updated: 07:20 04 Mar 2015 GMT, First published: 08:20 04 Mar 2015 GMT

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Metals of Africa (ASX:MTA) has received first laboratory assay results from initial drilling at its Montepuez Central Project in Mozambique which confirm it has a new high grade graphite discovery on its hands.

The first three assays have been received and include a near surface graphite intersection of 145.59 metres at 9.60% total graphitic content (TGC) and 0.12% vanadium from just 34 metres.

This included a 1 metre at 33.8% TGC and 0.26% vanadium intercept from 140 metres at a prospect named Buffalo.

Tellingly, this drill hole ended in high grade graphite mineralisation and is still open in all directions.

The assays were from Metals of Africa's recently completed maiden diamond drilling program at the Montepuez Central Project in the world class Cabo Delgado graphite province. 

This mineral province is home to Syrah Resources' (ASX:SYR) and Triton Minerals' (ASX:TON) world class graphite and vanadium deposits.

Other hole highlight included drill hole 009 in the southern zone which returned over 45 metres at 7.15% TGC and this hole also ended in mineralisation.


Highlights of the program results

A main VTEM target that extends more than 5 kilometres remains untested. This will be drilled Q2 2015.

The flake size was generally large ‐ ranging from fine to jumbo and averaging >0.1mm (large to jumbo).

Assays from the remaining 18 holes will be provided when received.

Drilling will recommence in Q2 to define a cost efficient JORC Resource.


Metals of Africa’s Managing Director Cherie Leeden said:

“To receive assay results of 145 metres of high grade graphite mineralisation from close to surface, in our first drill hole is sensational. It indicates that MTA’s Montepuez Project has arrived as a major player in this world class province. 

"The mineralisation is open in every direction, and ended in 12.8% TGC. The enriched and extensive oxide zone within the project is of particular interest and we look forward to recommencing drilling as soon as weather permits.”


Background to assay results received 

The first assay results confirm a broad zone of high grade graphitic mineralisation over significant widths, including grades up to 33.8% TGC and corresponding elevated vanadium at 0.26% vanadium over a one metre interval.

The reported oxide mineralisation ranged from 4.65%‐22.2% TGC (with coincident elevated vanadium peaking at 0.26% V) and provides further encouragement for potential high grade oxide mineralisation along strike and east of the current drilling.

In light of the highly encouraging results from two of the three drill holes received so far, the technical work programs are being reviewed.

Further reverse circulation and diamond drilling is being considered with a view to defining the highly encouraging mineralisation returned from drill hole MN0007D and to test prospective targets generated from the re‐processed recently flown VTEM data – especially west of drill hole 001.


Analysis


Metals of Africa is off to a flying start to drilling for graphite, with assay results confirming it has a high grade discovery on its hands in Mozambique.

Further results from the remaining 18 drill holes will be logged and samples submitted for laboratory analysis in Q2, after the wet season in the region.

There is also a main VTEM target that extends more than 5 kilometres remains untested that will be drilled Q2 2015 - to look forward to.

As well as drilling to recommence in Q2 to define a "cost efficient" JORC Resource.

In all, 145 metres of high grade mineralisation in a first hole, close to surface is proof that Metals of Africa can take its place a significant force in this graphite rich province with an exciting new discovery.

The company is fully-funded to deliver a JORC graphite resource.

Highlighting the experience of the team in the area, Peter Buckle is working as the exploration manager. Buckle brings experience from working for the nearby Syrah Resources.

Last month Metals of Africa appointed Andrew McKee as a non-executive director, with McKee to play a key role in assisting the company in the next phase of development of its projects.

 

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