TSX-listed RG Mining has been formally awarded the mining permit for its Lola graphite project, located near the town of Lola in eastern Guinea, West Africa.
The Lola Graphite deposit is located approximately 1000 km south-east of Conakry, the capital of the Republic of Guinea. The deposit was named after the nearby town of Lola, located about 3.5 km to the east.
The deposit is present at surface over 8.7 km, an average of 370 m wide. The first 20m to 50m (average of 32m) of the deposit is well weathered (lateralised), freeing graphite flakes from the silicate gangue, 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).
The fifteen year renewable permit was officially granted by the government of Guinea through presidential decree in conformity with the company’s request of March 22, 2019.
Ugo Landry-Tolszczuk, President and COO of SRG Mining, said the Canadian-based miner was 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 recognizes the importance of diversifying its mining resources.”
He added that with the receipt of the mining permit, the company will now work closely with the government in order to negotiate and finalise a mining convention in accordance with the mining regulations.