Valence Industries Ltd. High Grade Graphite Mineralisation Continuity at Uley
24.08.2015 | ABN Newswire
Adelaide, Australia (ABN Newswire) - Valence Industries Ltd. (ASX:VXL) is pleased to announce further results from the targeted extensional drilling campaign at the Company's Uley GraphiteTM operation near Port Lincoln. Highlights:
- Assay results confirm strike extension of very high-grade flake graphite mineralisation at Uley Graphite site
- Very high-grade near-surface mineralisation within Uley Pit 2 imply lower L.O.M. strip ratio
- Very high grades of graphite along strike including grade exceeding 45% gC
The campaign has been focused on the Uley Pit 2 area (see Figure 1, in link below). It is designed to confirm the dip and strike continuity of the Uley GraphiteTM lodes and provide data to allow a detailed mining schedule to be developed for Uley Pit 2. That mine schedule will target high-grade, near-surface mineralisation.
These most recent assay results continue to indicate very high-grade graphite mineralisation is continuous in a southerly direction, along strike from the optimised Uley Pit 2 and within the Exploration Target Area.
Near-surface mineralisation extends across the strike length of the resource area and with the Exploration Target area, minimising the volume of pre-stripping overburden removal prior to ore extraction within the optimised Uley Pit 2, and allowing Valence Industries to further progress Life of Mine studies at Uley Pit 2.
Notable near-surface significant intersections table can be viewed in the link below.
Data & Results
The collar locations of diamond drill holes for which assays reported in this announcement are presented in Figure 4. Geological and mining context is presented in Figure 2, see link below.
Significant intersections as received are contained in Table 1 (below) and in Table 2 (below), along with geological sections (Figures 5-7, in link below).
To view tables and figures, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-VXL-874245.pdf
About Valence Industries Ltd:
Valence Industries Ltd. (ASX:VXL) 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:
Valence Industries Ltd.
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