Black Rock Mining Ltd (ASX:BKT) has delivered a maiden JORC resource of 131.1 million tonnes at 7.9% total graphitic carbon (TGC) from its wholly-owned Mahenge Project in Tanzania.
Across the project, 40% of the total resource tonnes are classified as Indicated.
In global terms, Mahenge is the third largest JORC compliant graphite resource in Africa - or the fourth largest in the world.
It’s not the sheer size of the resource that’s important, but also the quality.
Mahenge offers significant flexibility for potential development into a long life (+30 year) mining operation.
It has potential to be mined from multiple zones at low strip ratios, high-graded to accelerate capital payback in early years and can be scaled up in future due to the large resource.
Metallurgical test work indicates straightforward production of coarse graphite flake with high purities.
Metallurgical testing has returned high proportions of coarse and jumbo flake, producing 98.27% TGC.
These results came from a straightforward three-stage flotation process.
Stephen Copulos, chairman, commented:
"The large resource with significant higher-grade portions and straightforward metallurgy are the key building blocks for the current scoping study.
"Early stage conceptual economic studies are quite positive and we expect to release the scoping study findings in March."
Analysis
Today's news paves the way for the next key catalyst, being the Scoping Study results expected in March, and if positive will lead directly into a Pre-Feasibility Study (PFS).
Significant interest has already been expressed by engineering contractors to conduct the PFS.
Also, the marketing process is well underway following the appointment of an experienced commodities marketing specialist earlier in the year.
Black Rock remains focused on commercialising the Mahenge Project.
MEET the company at Proactive's Spotlight CEO Sessions in Sydney and Melbourne in March 2016
To find out more on Black Rock, register to attend Proactive's Spotlight CEO Sessions in March.
Sydney Investor Luncheon, Tuesday, 8th March
Melbourne Investor Luncheon, Wednesday, 9th March
Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.