Aim-quoted natural resources project developer Armadale
Capital has entered into an agreement to acquire the Mahenge Liandu graphite
project, in south-east Tanzania.
The company entered into the agreement with Australian
company Graphite Advancement Tanzania (GAT), which, through a Tanzanian
subsidiary, owns or has the right to 100% of the tenements that constitute the
Liandu project.
“This transaction creates a significant opportunity for
Armadale in an industry with exciting demand fundamentals. Graphite is the raw
material in lithium ion batteries, which are used to power electric vehicles,
as well as being a critical factor in the energy storage revolution currently
taking place,” Armadale chairperson Peter Marks noted in the company statement
released earlier this month.
The Liandu project is located in the Ulanga district, in
south-east Tanzania, about 300 km south-west of Morogoro, and 10 km from the
town Mahenge.
The Mahenge properties are located immediately to the east
of ASX-listed Kibaran Resources’ Epanko project. Kibaran Resources and
Australian junior Black Rock Mining have identified and are developing
significant proven and valuable graphite projects immediately adjacent to the
project.
“Mahenge Liandu is in
an area of known high-quality graphite, indicating that this project area may
benefit from similar high mineral values,” Marks pointed out.
In addition, three holes have already been completed and
sampled by the Armadale team. Results from this have further reinforced the
board’s view that the Mahenge Liandu project is “an ideal investment target”,
complementing Armadale’s current portfolio, including the Mpokoto gold project,
in the Democratic Republic of Congo, which has a resource of 678 000 oz of gold
from 14.58-million tonnes of ore at 1.45 g/t of gold, Marks added.
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