Mozambi goes 15 from 15 in graphite chase
Graphite player Mozambi Resources (ASX:MOZ) has confirmed that of 15 holes drilled at its flagship Chiwata prospect, all 15 have at least hit graphite mineralisation.
It said in an update before the opening of ASX trade today that a current drilling round of 15 holes had confirmed visual graphite in all holes, as well as its theory that mineralisation remains open along strike to the east, west, and down dip to the north.
It has taken 808m of RC holes at Chiwata, with a further 300m of RC drilling along with 150m of diamond drilling expected to wrap up the current program in coming weeks.
While it is not able at this stage able to release grade information as the samples have not been assayed and were evaluated on a visual basis, MOZ said that there was visible graphite on all the cores.
It said the thickness of mineralisation was roughly 10m to 20m on average.
Samples have been sent off for assays, with MOZ telling shareholders that it expected the results to confirm previous guidance that graphite flake size in the area averaged large to jumbo.
After drilling at Chiwata is wrapped up, MOZ will head to the nearby Namangale prospect for further drilling.
Late last week MOZ said that it had conducted a ground electromagnetic survey over several areas, finding additional targets at the Namangale, Chidya, and Masasi prospects.
MOZ said while it would conduct trenching and pitting at Chidya and Masasi, that it would start drilling at Namangale after it had wrapped up its current drilling program at Chiwata.
S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of Maven Capital Pty Ltd (AFSL No. 418504). 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.