Armadale Capital reports 'exceptional' graphite concentrate of up to 99.1%

Test work was undertaken in Perth, Western Australia by Matt Bull of the Australian Institute of Geoscientists and showed purity and flake distribution of the highest standards, to which Armadale said confirmed the potential of the project.

The African focused natural resource and infrastructure group said assay results from an earlier reverse circulation drilling programme were expected to be returned in the near future, with a second phase drill programme to increase confidence in the inferred mineral resource expected to commence shortly thereafter.

Nick Johansen, director of Armadale said, "These results are a significant achievement as they show that extremely high-quality graphite concentrate can be produced from Mahenge Liandu using relatively simple and ultimately low-cost processing methods. Accordingly, this has the potential to have very positive implications for the Capex and Opex requirements of our Project. We now look forward to further proving up the Project’s resource potential through our two-phase drill programme, which is well advanced with results due from the first stage in the coming weeks."

As of 1140 BST, shares had gained 6.16% to 1.30p.