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StratMin Global Resources to hit the accelerator after exploration success

23 Nov 2015

"Subject to follow up testing confirming mineralisation we hope to have sufficient graphitic ore in the existing operational area to support a significant expansion programme," the CEO said.
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Loharano: one of the company's assets in Madagascar
London's only listed graphite production and exploration company, StratMin Global Resources (LON:STGR), has reported further success in its ongoing exploration programme.

The company has not only discovered potentially lucrative new areas of mineralisation, it has made significant headway in quality control in the plant feed, providing processing and efficiency improvements.

The latest phase of the programme kicked off in August of this year, with the aim of completing a topographical survey of the entire area of the Loharano and Mahefadok project areas, confirming the continuity of known mineralisation at the assets and improving grade control.

StratMin said the topographical survey has been completed and will assist in operations and determining expansion plans.

Geophysics was deployed over the Loharano and Mahefadok areas and anomalies are highly correlated to known graphite mineralisation.

Meanwhile, significant new anomalous zones have been identified and these have prompted the company to consider accelerating the development of the planned 12,000 tonnes per annum (tpa) flake graphite concentrate plant adjacent to the current plant.

StratMin's funding partner, Bass Metals Ltd, is on board with this plan to accelerate development of the plant, subject to confirmatory testing of the newly identified zones.

StratMin added that a high-resolution model of the mine area has been completed that will enable detailed planning for mining and grade control

Lastly, consistency in the plant feed has been significantly improved, the company told investors.

“Early exploration relied heavily on identifying outcropping mineralisation near old French era workings; however, with the deployment of geophysics, StratMin has quickly, and at low cost, been able to re-assess the potential of the entire area. The newly identified target areas are completely under cover and have therefore been historically overlooked, but represent a significant economic opportunity,” asserted Brett Boynton, chief executive officer of StratMin.

"Subject to follow up testing confirming mineralisation we hope to have sufficient graphitic ore in the existing operational area to support a significant expansion programme. Following this, further development at StratMin's adjacent site, Mahefadok, would be funded through cash flow,” Boynton continued.

"The impact of robust grade control measures has been immediately tangible. The mine is now delivering a more consistent feed into the processing plant and, critically, avoiding stressing the plant with low grade and deleterious materials. This has provided processing and efficiency gains across the board, but especially in the higher input cost milling and floatation processes. This optimisation is a key element to extracting maximum return from already invested capital,” Boynton revealed.