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  • Metals Of Africa Has High-Grade Large Flake Graphite At Montepuez 0 comments
    Aug 18, 2014 9:58 PM

    Metals of Africa's (ASX:MTA) shares are expected to trade higher after lab results confirmed the company has high grade, large flake graphite mineralisation at the Montepuez Graphite Project.

    The results are from rock chips and are present in outcrop at surface mineralisation, and show up to 16.5% total graphitic carbon (NYSEMKT:TGC) and up to 0.31% vanadium.

    Drilling will commence in October.

    The project is located in the world class Cabo Delgado graphite province of Mozambique, with two of the licences that make up Montepuez located along strike from graphite heavy weights Syrah Resources (ASX:SYR) and Triton Minerals' (ASX:TON) projects.

    Petrography confirms large flake size in high grade graphite samples.

    The 10 kilometre strike length target area was defined via geological mapping which was validated by recently acquired VTEM data.

    Cherie Leeden, executive director, commented: "The high graphite and vanadium grades at surface, combined with an extremely compelling VTEM anomaly over a 10 kilometre strike length equates to a definite drill target.

    "Given the thin sand veneer covering the majority of our Montepuez project, we will continue with our VTEM survey in order to prioritise our best conductors.

    Maiden drilling in October

    The next steps for MTA include an additional airborne electromagnetic (VTEM) survey to define drill targets which will commence within the next 4 weeks.

    The company is then on track to commence its maiden drilling program in October 2014.

    The Montepuez project

    The Montepuez Project comprises of three licenses, Montepuez East, Central and North.

    The initial field work revealed that rock outcrop-surface expression of the prospective unit (X3Pqm - Graphite bearing quartz mica gneiss and schist) within the Montepuez project is limited due to a thin sand veneer, of
    around 2 metres, covering the majority of the prospective unit.


    It may only be early days for MTA at Montepuez, but the identification of high grade, large flake graphite from rock chips that outcrop is a great start.

    The project has large scale potential considering the 10 kilometre strike length target area, which was defined via geological mapping and validated by acquired VTEM data.

    Key near-term catalysts include an additional airborne electromagnetic survey to define drill targets, with drilling to commence in October.

    Highlighting the prospectivity of the area, two of the licences that make up Montepuez are along strike from graphite heavy weights Syrah Resources (ASX:SYR) and Triton Minerals' (ASX:TON) projects, respectively.

    Much of the Montepuez project occurs within the same regional geological setting as these large graphite deposits.

    With MTA having just 79 million shares on issue, the company is highly leveraged to newsflow.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

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