TSX-listed SRG Mining this week announced that it has been formally awarded the mining permit for its Lola graphite project in Guinea.
Guinea – The 15-year renewable permit was officially granted by the government of Guinea through presidential decree in conformity with the company’s request in March this year.
“We are very pleased with the efforts and professionalism demonstrated by the government of Guinea in support of this project. We see this as a reflection of the maturity of Guinea as a mining jurisdiction who recognises the importance of diversifying its mining resources.
“With the receipt of the mining permit, we will now work closely with the government in order to negotiate and finalise a mining convention in accordance with the mining regulations” said Ugo Landry-Tolszczuk, President and COO of SRG Mining.
A unique deposit
The Lola graphite deposit is one of the largest surface graphite mineralization in the world, with an area of 3. 22 km2 of continuous graphite rich gneiss. It is located approximately 1 000 km South-East of Conakry, the capital of the Republic of Guinea.
The deposit is present at surface over 8.7 km, an average of 370 m wide. The first 20 to 50 m (average of 32 m) of the deposit is well weathered (lateralised), freeing graphite flakes from the silicate gangue and thus allowing for easy grinding and optimal recovery of all large and jumbo flakes. Over 50% of the graphite is large flake (+80mesh), and 26% is “jumbo” flake material (+50 mesh).