Black Rock Mining (ASX:BKT) is building a graphite resource base with recently completed infill drilling returning assays of up to 12.15% total graphitic carbon (TGC) at the Epanko North prospect in Tanzania.
The company is on track to deliver a maiden JORC Resource at this prospect by the end of this year.
However, this is the tip of an iceberg that looks to be sizeable given the other prospects in the country controlled by Black Rock, Ulanzi and Cascade have over six times the mineralised footprint of Epanko North.
Further drilling is underway at the Ulanzi and Cascade prospects where visibly higher-grade mineralisation has been observed. Assay results are expected later this month.
Notably, these prospects are located within the Mahenge Project, which is adjacent to Kibaran Resources’ (ASX:KNL) Epanko Graphite Project.
Kibaran this month secured a key German Government loan guarantee that will support debt financing discussions for Epanko.
Key results from the Epanko North infill drilling are:
- 30 metres at 12.15% TGC from DD7;
- 72 metres at 9.12% TGC including 50 metres at 10.29% TGC from RC28;
- 80 metres at 8.05% TGC including 64 metres at 8.54% TGC from RC27; and
- 62 metres at 7.73% TGC including 38 metres at 9.35% TGC from RC19.
Steven Tambanis, managing director, commented:
“The Epanko north infill drill program has successfully concluded and a maiden JORC resource is expected by the end of 2015.
“In the meantime drilling is proceeding at the company’s two new high-grade discoveries, Cascade and Ulanzi. These two areas are expected to start returning additional resources by the end of the year.
“The current drill program has potential to deliver significant upside to the Mahenge exploration programme over the next few months. We keenly await further drilling results during September and October.”
Mahenge drilling
Black Rock completed drilling 25 reverse circulation and two diamond holes at Epanko North over a two-month period.
Drill and trench data are currently being reviewed by external consultants to prepare a maiden JORC resource.
The drilling rigs have since being moved to Cascade and Ulanzi for a first-pass drill program over newly discovered high-grade graphite mineralisation.
This is expected to deliver additional resources to its Mahenge graphite resources.
Ulanzi
The Ulanzi prospect has a current strike length of 3 kilometres that is expected to increase as the ground to the north and south is evaluated.
It has been systematically evaluated with gridded test pits and sampling of outcrop and creek intersections.
To date the 140 test pit samples have averaged over 11% TGC, an early stage result that easily exceeds outcrop grades at Epanko North.
The first diamond hole completed at Ulanzi returned 80 metres of graphitic schist that visually contains the most exciting mineralisation observed to date by the Company.
The core has been logged and sampled with assay results expected in early October.
In conjunction with the current drill program, the grid sampling and mapping program is continuing as more graphitic outcrop are being located to the south of Ulanzi.
Cascade
Four reverse circulation holes have been drilled at the prospect, each returning graphitic schist intervals with good visual graphite throughout the hole.
A total of eight holes are initially planned to be drilled at the Cascade prospect, with additional drilling planned to occur based upon initial results.
Kituti
Work will resume at Kituti prospect following completion of the mapping and sampling program at the Ulanzi prospect.
Sampling in July has returned consistent mineralisation along the 22km Kituti structure.
Analysis
Black Rock Mining has demonstrated the world class nature of the region it operates in with the successful conclusion of the infill drilling program at Epanko North and the expected release of its maiden JORC Resource before the end of 2015.
Yet, this is just the beginning.
Drilling at the Ulanzi prospect has already returned 80 metres of graphitic schist that visually contains the most exciting mineralisation observed to date while Cascade drilling has also returned good visual graphite.
Given that the two prospects are together over six times larger than Epanko North, their success could add substantially to the company’s graphite resources.
Further assays results are expected in September and October.
The company had $2.5 million in cash at the end of June 2015.
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