Black Rock Mining's (ASX:BKT) latest assays from the Ulanzi infill drill program in Tanzania are impressive.
Ulanzi is part of Black Rock's Mahenge project, with the company recently receiving very strong demand in a capital raising which yielded $5 million.
Highlights:
- 73 metres at 10.25% total graphitic carbon (TGC), including 20 metres at 14.58% TGC; and
- 72 metres at 9.43% TGC, including 18 metres at 13.18% TGC.
Adding interest, many holes contain significant higher grade intervals of 12% to 17% TGC.
The assays are from the last five drill holes of the initial 17 hole program.
Last month assays included: 54 metres at 9.8% TGC; 52 metres at 8.95% TGC; and 70 metres at 9.5% TGC.
Mineralisation remains open to the north and south, and to date no holes have tested the eastern or hanging wall side of the mineralised structure, so upside potential exists to widen overall widths of mineralisation.
New drilling program
Black Rock is continuing with exploration at speed, and the current program is for 30 holes, but enticingly there is the option to drill another 15.
Drilling will include the eastern side.
Based on results to date from Ulanzi, the additional drilling could certainly be warranted.
Diamond drilling commenced last week to collect additional metallurgical samples, and the reverse circulation rig will begin shortly to drill the bulk of the planned holes.
The program will result in more than 2 kilometres of the structure being defined and is expected to generate sufficient information for a maiden JORC Resource at the prospect.
The exploration target at Mahenge has been established at between 84 million tonnes to 115 million tonnes at 8.66% to 10.34% TGC.
Analysis
Today's results confirm the potential of Ulanzi to be the company’s most prized development area.
A new drilling program is already underway, which will provide constant assay news flow over coming months, which will likely be followed by a maiden JORC at Ulanzi.
Other results due in December include metallurgical testwork for both the Ulanzi and Epanko north prospects.
Other significant milestones and key objectives the company is aiming to complete in the current quarter include the conclusion of due diligence at Bagamoyo as well as aerial surveying for Ulanzi north.
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