Black Rock Mining (ASX:BKT) has a drilling program underway at its Mahenge project in Tanzania, which is located in one the best graphite regions in the world.
The project is adjacent to Kibaran Resources’ (ASX:KNL) Epanko Graphite Project, which this week clinched another graphite sales agreement - this time with German industrial goliath ThyssenKrupp (ETR:TKA).
Black Rock's is already drilling at Cascade and Ulanzi, and highlighting the prospectivity, the strike length of the Ulanzi discovery recently increased to 2.5 kilometres.
Drilling will test the two most significant graphite zones found to date at Mahenge, each with the potential to deliver a stand-alone graphite resource.
Previous trenching highlights from the Cascade prospect area include: 98 metres at 10.3% TGC; with best samples of 20.4%, 18.7% and 17.7% TGC.
At Ulanzi, sampling has already delivered an average grade of 11.1% TGC, with five pit samples averaging 17.29% across a graphitic zone interpreted to be over 300 metres in width.
Over at the company's Epanko north prospect, assays are currently pending from infill drilling, and are expected in early September.
Black Rock said that the first reverse circulation hole completed at Cascade contains visibly higher-grade graphite mineralisation than seen at Epanko.
Epanko north highlights last month from reverse circulation drilling included: 24 metres at 9.0% TGC; RC14: 16 metres at 12.8% TGC; and RC15: 66 metres at 9.4% TGC.
Steven Tambanis, managing director for Black Rock, commented:
"In a three month period the exploration team has delivered an infill drill program at Epanko north and discovered two new large graphite zones, confirmed with compelling results at Cascade and Ulanzi prospect.
"The current drill program has potential to deliver significant upside to the Mahenge exploration program over the next month.
"We keenly await further drilling results during September.”
Analysis
Black Rock's exploration news flow is about to heat up, with drilling results from Epanko north expected in early September, to be followed by drilling assays at Cascade and Ulanzi.
The Ulanzi drill program is of significant interest because of the spectacular grades recently reported and its size potential.
Ulanzi mineralisation is located on a prominent 2 kilometre ridge which offers favourable geometry for simple mining at low strip ratios should a resource be delineated.
The project is adjacent to Kibaran Resources’ Epanko Project, which this week clinched another graphite sales agreement with ThyssenKrupp.
The company had $2.5 million in cash at the end of June 2015.
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