Shares in Black Rock Mining (ASX:BKT) spiked as much as 16% yesterday to a 52-week high of A$0.094 before closing 4.9% higher at $0.085.
This performance helped confirm the graphite developer’s status as a three-bagger since June thanks to continuing exploration success.
This week drilling at the company’s Mahenge project in Tanzania delivered its best ever assays. The broad intersections and strike length of 5.5 kilometres are particularly worth noting.
Results included 12 metres at 14% total graphitic carbon (TGC) within 92 metres at 8.5% total TGC, as well as 52 metres at 10.4% TGC (including 8 metres at 13.81% TGC) and 32 metres at 9.25% TGC (including 10 metres at 16.32% TGC).
These hits were in the project’s new Ulanzi resource, which is shaping up to be the most promising corner of the broader project.
As such, Black Rock said it would focus its exploration efforts on this area for the remainder of 2015.
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