Congratulations to Armadale Capital on its Positive Results

    Published on June 29th, 2015

    Armadale Capital

    Congratulations to our client, Armadale Capital for its positive results at its Mpokoto Gold Project in the Katanga Province of the Democratic Republic of Congo.

    Highlights:
    • 2,500m Reverse Circulation drilling programme to commence late July to further explore:
    – Newly identified Exploration Target areas located along-strike and down dip from known mineralisation – targeting an additional 120,000 to 150,000 oz Au from 2.4Mt to 3.0Mt at a grade of 1.25 to 1.5g/t Au
    – Extensions of high grade mineralisation in sheared altered mafic rocks intersected in drill hole MPDD0064, which intercepted 27.9 metres @ 7.8 Au g/t in addition to laterally continuous zones of mineralisation

    • Results of further drilling have potential for material enhancements to current pit models and economic fundamentals of the Project which has a current Total Mineral Resource of 678,000oz Au from 14.58 million tonnes (‘Mt’) @ 1.45g/t Au at a cut-off grade of 0.5g/t
    • Mpokoto has demonstrated a post-tax net present value of US$55.3 million, US$20m of proposed financing and a defined development strategy to rapidly advance the Project through to low capex, low opex gold production in H1 2016
    • Definitive Feasibility Study is currently being finalised following Heads of Agreement with Africa Mining Contracting Services group (‘A-MCS’) with a view to funding, developing, constructing and operating Mpokoto

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    SOURCE: BUSINESS WIRE
    DATE: 24 JUNE, 2015

     

     

     

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