| Andromeda Metals Limited Announcement 10 July 2017 | Dear Shareholders and Colleagues, Welcome to Andromeda Metals Limited latest company announcement. HIGH GRADE GRAPHITE DISCOVERED Summary The Thurlga Joint Venture (TJV) Manager has today released results from a recently completed aircore drill programme. Andromeda Metals presents a summary of these results below: ? A potentially significant graphite discovery has been made. ? Five holes at the Ironstone prospect encountered substantial graphite, with intersections grading up to 16.5% total graphitic carbon (TGC) in 3-metre composite samples. Four of these holes ended in graphite mineralisation. ? One hole intersected 30 metres at 10% TGC, a grade comparable to that of established graphite resources on the Eyre Peninsula and elsewhere in the world. ? Together with historical electromagnetic and drilling data, the results indicate the graphitic units are shallow, up to 500 metres wide, and fall on EM conductors that aggregate 25km in strike length, indicating very substantial resource potential. ? Anomalous silver and base metals were also intersected. ? Joint Venturer Investigator Resources Limited has met its obligation to spend $750,000 and has now earned 75% equity in the Thurlga Joint Venture, which will be formalised. Andromeda Metals remains focused on advancing its Wudinna Gold Project into production, but welcomes the positive results achieved to date by the TJV. The Company?s 25% equity in the graphite discovery potentially represents a valuable additional mineral asset. Click here to download the full announcement (PDF 0.42 MB). Should this link not open, go to the Andromeda Metals Limited website at: www.andromet.com.au and follow the link in Recent News. |