ACP set to buy into graphite buzz

Published at Jun 21, 2016, in Mining

Armadale Capital (AIM:ACP) say it will more than likely take its place in the Tanzanian graphite game after rock chip samples came back at grades of up to 33.8% at Liandu.

The London-listed company told its shareholders overnight that it had taken rock chip samples, with some focusing on the sites of previous drilling which had struck graphite interceptions including:

  • 60m @ 10.7 total graphitic content (TGC) from surface, including 12.9% TGC and 5m @ 21.5TGC.

It took a raft of rock chip samples from graphitic schists at the project, with samples ranging from 1.22% to 33.8% TGC.

The average from the samples was 12.8% TGC.

In addition, four samples were taken from within the existing drillholes, with the rock chips taken from the four samples.

Results largely confirmed what the previous drilling brought up, with only minor variances recorded.

Table showing chip samples against original holes

Table showing chip samples against original holes

On the back of the sampling, ACP said it had largely finished its due diligence on the project and now “anticipates entering into a binding agreement...shortly”.

It entered into a heads of agreement arrangement to acquire the Liandu project earlier this month, hoping to catch the wave of graphite buzz which has weaved its way through the Australian market.

The project itself is next door to Black Rock Mining’s (ASX:BKT) Mahenge project, which has a resource of 131 million tonnes @ 7.9% TGC.

In other news, it said its Mpokoto gold project was closer to funding, with potential funding partner A-MCS continuing to review a definitive feasibility study on the play.

On Armadale Capital and Liandu

Mahenge Liandu Project, which consists of two tenements covering 29.9 km2, adjacent to the town of Mahenge.

A map showing ACP's project

A map showing ACP’s project

In addition to the BKT connection, the project is right next door to Kibaran Resources’ (ASX:KLN) Epanko Project, with a bankable feasibility study done in 2015 finding the project had proven and probable ore reservers of 10.9Mt @ 8.6% TGC.

Initial exploration on ACP’s tenements indicated grades of between 13% to 24% TGC.

Reconnaissance mapping done late last year defined a mineralized trend more than 1.5 km in strike length and up to 500m in width.

From this initial mapping, ACP has been able to obtain some initial drill hole data as an indicator of future potential.

Three RC drill holes drilled late last year by the previous vendors showed intercepts of 24m @ 12.9% TGC, 5m @ 21.5% TGC and 10m @ 6.54% TGC.

Editor’s note – It should be noted that Tanzania is a high risk region owing to political instability which can affect mining projects getting off the ground.

View Our Investment Portfolios

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.

Publishers Notice

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.

Australian ASX Small Cap stocks | Why is Australia’s leading small cap publication

Founded seven years ago, is Australia’s leading and longest standing website for investor and finance news, education and expert opinion.

Published by StocksDigital, Finfeed was created to report daily on the comings and goings of ASX listed stocks in the small cap market.

As the first digital publication dedicated specifically to this space, Finfeed soon became the most trusted publication in the market, quickly garnering over two million page views – a number that continues to rise. provides its readers with informative articles that tackle the latest in market moving #ASX small cap news, plus exclusive content you won’t find anywhere else. It is aimed at those with an interest in investing, market education, company performance, start-ups and much more. is the only media organisation operating under the strength of a Financial Services License and is backed by leading journalists and analysts all with brands of their own.

The website aims to inform, educate and entertain with content that drills down into the heart of financial matters.

Finfeed is a leading source of investor and market information, with everything investors need to know about how to invest written in a way that anyone can understand. 

Over the years, the website has expanded beyond exclusively reporting on small caps, to profile Australia’s leading ASX listed small, mid and large caps as well as some of the country’s most successful CEOs and business leaders to find out what makes them tick.

Every day you will find fresh content covering:

Fast Facts

Over 4,000 articles published

Over 2.3 Million Page Views and counting

Over 10,000 followers on social media

Subscriber list growing by 2% monthly

Thanks for subscribing!