The company said there are three known graphite mineralized zones and the company will initially focus on the main zone of mineralization, called Vohitsara.
The zone stretches more than 1.5km north-south parallel to the main national highway.
DNI acquired a mining lease in Madagascar, which includes seven blocks totaling 43km². The company said there are producing graphite mines to the north and south of the claims.
The company is extending the private placement unveiled on 27 May this year for another 30 days to complete sub-agreements and transfer of funds.
Last month, DNI increased the size of the private placement to $900,000.00 because of increased demand. The company has to date completed and announced $795,015.91.
DNI looks at acquisitions, joint ventures, and development properties in the graphite sector. The company focuses on acquiring and developing bulk mineable properties with possibilities for quick expansion toward resouorces.
The company owns base and precious metals, specialty metals, rare earth elements, diamond and uranium mineral properties or interests in Alberta, Utah, and Ontario.
Image: DNI’s project in Madagascar: Photo: courtesy of CNW Group/DNI Metals Inc.
