DNI’s Second Madagascar Graphite Project – Marofody PE8904
On October 26, 2017, the Company purchased a property in Madagascar called the Marofody property.
The new property, Madagascar claim number PE8904 (the 'Marofody' project), is a permit that allows for production, is good for 40 years, and can be extended (refer to Table 1 left).
With the addition of the new claims, DNI will have a contiguous mining tenement package comprising over 100 square kms.
Madagascar is known for large flake and high quality graphite; the vast majority of which is sourced from the central-eastern coastal area between Toamasina and Brickaville. The project lies in a well-defined graphitic belt, which has been producing for over 50 years
Both claim packages have historical mine workings on them.
Infrastructure can be the key to any project. It is a significant advantage that the claims are 50kms by paved highway from Madagascar's main operating port at Toamasina.
Marofody contains historical mining operations from the period of French colonial occupation (c1935) and recent Vendor exploration as confirmed the existence of strike and depth extensions to the historically exploited graphite zones.
The purchase price for Marofody was U$1,650,000 cash.
DNI's management team, continues to assess Graphite Assets, around the world, with a focus on Saprolitic deposits.