MOZ more than doubles strike length at Namangale
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
Mozambi Resources (ASX:MOZ) now thinks its Namangale graphite prospect is “one of Tanzania’s largest graphite deposits” after more than doubling strike length at the project.
It told its shareholders his morning that it had wrapped up its drilling for 2015 by extending the effective strike length at the project to 3.2km, up from its previous length of 1.2km.
MOZ was able to do so as the result of ongoing reverse circulation and diamond drilling at the prospect, having now taken 61 RC holes for 3259m and 326m of diamond drilling.
Better yet, it said, mineralisation remains open in all directions, suggesting follow-up work next year could extend the strike length even further.
MOZ said that the drilling confirmed mineralisation at the project was a flat lying body, commencing near or at surface.
Managing director Alan Armstrong said the latest round of drilling results painted a very pretty picture.
“It is becoming clear to the company that the Namangale discovery is a very large mineralised system and is developing as one of Tanzania’s largest graphite deposits,” he said.
The results from the drilling are now being folded into an expected JORC resource, which is expected back closely after it receives assay results back from the lab.
The positive news has the potential to send MOZ shares higher today, with it recently being given a speeding ticket from the ASX partially because of the buzz being created by Namangale.
About Namangale
The Namangale Prospect is contained in one of the areas picked up by MOZ as part of a deal struck with a local mining company back in September.
It picked up the prospect for an initial $104,000 in cash, with it also picking up three other tenements.
The Namangale Prospect is part of the broader Nachingwea Project in the south east of Tanzania, which is quickly becoming a graphite hotspot in Africa.
The Namangale prospect was picked up as part of a deal with a local mining company
A number of resource companies have declared resources nearby, including fellow ASX-listed company Magnis Resources (ASX:MNS), which has a project 60km to the north.
Graphite mineralisation in the province typically occurs in stratigraphic layers of graphitic schist within a package of high pressure metamorphic rocks which make up the Mozambique Mobile Belt.
This belt extends south into Mozambique, and is the belt being tapped by the likes of Syrah Resources (ASX:SYR) and Triton Minerals (ASX: TON), which have both identified graphite deposits of over 1 billion tonnes.
General Information Only
S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (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 and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.
