DNI METALS INC. (DNI: TSX-V) / (DG7: Frankfurt)
TORONTO, July 13, 2015 /CNW/ - DNI Metals Inc. "DNI"
is pleased to announce that it is ramping up the development of its
Madagascar Graphite Project, with the help of its recently
appointed country manager.
There are 3 known graphite mineralized zones running through the
claims. DNI will initially focus on the main zone of
mineralization, known as "Vohitsara".
The word Vohitsara means "Good Mountain" in the language of
Madagascar and is an appropriate
reference to the main zone which is literally a mountain of
graphite.
The zone extends for in excess of 1.5 kms north-south parallel
to the main national highway.
As announced on June 15, 2015, DNI
acquired a mining lease in Madagascar.
- The lease consists of 7 blocks, totaling 43 square kms. (see
map above)
- It is located 47 kms from the newly renovated, main Madagascar
Port in the city of Toamasina
- There are producing graphite mines to the north and south of
the claims
- Madagascar's major highway
runs through the project, 1 km from the main zone.
DNI has decided to extend the Private Placement announced
May 27, 2015, for another 30 days to
allow completion of sub-agreements and transfer of funds. On
June the 5th DNI increased the size of the Private
Placement to $900,000.00 due to
increased demand. So far $795,015.91 has been completed and announced.
DNI - TSX Venture
DG7 - Frankfurt
Issued: 29,186,204 common shares
We seek Safe Harbour. This announcement includes forward
looking statements. While these statements represent DNI's best
current judgment, they are subject to risks and uncertainties that
could cause actual results to vary, including risk factors listed
in DNI's Annual Information Form and its MD&A's, all of which
are available from SEDAR and on its website.
SOURCE DNI Metals Inc.