Mozambi Quadruples Strike Length at Flagship Graphite Project
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
Shares in Mozambi Resources (ASX:MOZ) skyrocketed by over 23% in yesterday’s trade on the back of news that it had effectively quadrupled the strike length at its flagship Chiwata graphite prospect in Tanzania.
MOZ told the ASX yesterday that geological mapping informed by an ongoing pitting program had firmed up the strike length at the project to 4km, up from 1km.
A ground magnetic survey also helped firm up additional targets along the new strike length.
Managing director Alan Armstrong said the best part of the upgrade was that the prospect remained open, hinting at further extensions to come.
“The Chiwata Prospect is starting to materialise and initial exploration indicate(s) a significant increase in potential,” he said.
“To have increased the strike length to over 4km and see that it remains open is extremely exciting.”
News of the strike length extension comes shortly before assay results from rock chips – gathered as part of the aforementioned pitting program – are expected to come in.
The first results are expected as soon as this week.
MOZ has previously brought up rock chip samples with confirmed jumbo flake graphite with a total graphitic carbon content of 7.9%.
An electromagnetic survey covering the new strike area is expected to start in the middle of this month.
MOZ is currently in the middle of tapping a driller to start a 2000m to 3000m drilling program to begin in October. This program should give MOZ enough data to declare a JORC-compliant resource estimate at the project.
About the Chiwata project
The Chiwata project lies in the south east of Tanzania, which is quickly becoming a graphite hotspot in Africa.
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.
