Initial exploration in Tanzania serves up jumbo flake for Prospect
Prospect Resources (ASX:PSC) reports that initial petrographic work at its Chiliogali Graphite Project in Tanzania confirms the presence of ‘in-situ’ coarse graphite flake sized up to 1mm (1000 microns). PSC also published upbeat exploration results earlier this month after acquiring an option on the Chiliogali Project last November.
The discovery is significant because graphite flake size is directly related to final graphite sale prices at market.
In an announcement to the market earlier today, PSC says there is no indication of any issues in liberating the graphite with little evidence of mineral inclusions within the graphite. “There are zones of large graphite flakes that are associated with, but not intergrown with quartz, which should therefore be easy to liberate,” said PSC.
Both these aspects could boost PSC’s exploration success and subsequent Resource definition.
PSC hopes that its Project location and neighboring infrastructure, namely the port of Mtwara, will act as catalysts for strong project economics as exploration continues and moves into the later stages. The Chiliogali Project is around 180km west of Mtwara Port in Southereastern Tanzania, easily accessible from the well maintained Masao-Lindi-Mtwara road.
However, PSC did confirm the presence of biotite, an accessory mineral, which makes up less than 5% of the extracted material. “The small amounts of biotite that are present are not intergrown with the coarse graphite, and will not likely [sic] cause problems with flotation.”
All of PSC’s most recent samples have now been sent for metallurgical testing that will likely clarify exactly how PSC’s graphite stacks up in comparison to its regional neighbours in Tanzania. PSC claims that despite only “limited metallurgical test work” being done, it “seems that concentrates of >98% carbon are possible”.
Should PSC be able to prove up high carbon test results as part of its exploration, the micro-capped explorer would place itself in amongst some illustrious peers in the region that are more advanced in their exploration.
The likes of Mozambi Resources, Magnis Resources and Kibaran Resources are all junior explorers currently pursuing graphite exploration in East Africa, close to the richest graphite region in the world – Cabo Delgado in Mozambique.
Geologists strongly believe that veins of graphite schist mineralisation stretch out across East Africa with Tanzania currently a prime location for graphite exploration.
When the experts at Next Investors have a stock pick, it may pay to listen.
The Next Investors have been investing in ASX small cap stocks for years, with their best small cap picks yielding returns of 1,200%, 1,120%, 900% and 678%.
They have just revealed their hand-picked, FY2021 stock portfolio of high conviction long-term investments.
Click the link below to see what they are currently investing in.
S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.
Conflict of Interest Notice
S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.
The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.