Valence Industries Ltd. New Open Pit Pre-Strip Commenced
14.07.2015 | ABN Newswire
Perth, Australia (ABN Newswire) - Valence Industries Limited (ASX:VXL) is pleased to provide an update on operations at its Uley Graphite(TM) site in South Australia.Highlights
- Uley Pit 2 Mining Pre-Strip commenced
- Graphite visible near surface
- Pre-strip material used for tailings construction
- New Open Pit mining to commence in late 2015
The removal of overburden from Uley Pit 2 has commenced at site. This preparatory work on Uley Pit 2 has exposed clearly delineated areas of visible graphite mineralisation near surface at the northern end of the new pit. The pre-stripping of Uley Pit 2 has also confirmed the ease of mining of the graphite host material.
The Company is pleased to have been able to utilise overburden material removed from the prestrip for the construction of the walls of the new tailings storage facility. The re-use of overburden will result in cost savings for the tailings facility.
The Company is continuing to process existing stockpiles with an average contained graphite of 6.3%. The transition to higher grade 12.1% run of mine material from the new open pit in coming months will allow increased output from the existing plant.
About Valence Industries Ltd:
Valence Industries Ltd. (ASX:VXL) (OTCMKTS:VLQCF) is an industrial manufacturing company producing high grade flake graphite products for distribution and sale to global markets. Valence Industries owns established processing facilities and infrastructure to manufacture a wide range of graphite product lines for multiple applications and multiple industries. Valence Industries produces and sells its graphite products from its Uley Graphite facilities in regional South Australia for delivery to diversified markets for graphite in the Asia Pacific, Europe and North America.
Contact:
Investor Enquiries:
Christopher S. Darby, CEO & Managing Director
Phone: +61-8-8215-6400
Email: info@valenceindustries.com
Media Enquiries:
Rebecca Lawson, Associate Director
Media & Capital Partners
Phone: +61-433-216-269
Email: Rebecca.lawson@mcpartners.com.au
Valence Industries Ltd.
Corporate Headquarters Investor Relations
T: +61-8-8418-8564
E: info@valenceindustries.com
www.valenceindustries.com