Globe Metals & Mining (ASX:GBE) should trade firmer after intersecting 253 metres of graphite grading 5.4% TGC during trenching at its Chiziro project in Malawi.
Five of the eight trenches with received assays intersected more than 25 metres of graphite mineralisation and greater than 8% TGC, and three trenches demonstrated intersections of more than 100 metres at a grade exceeding 5% TGC.
The 17 trenches completed have defined visible graphite mineralisation over 6 kilometres in strike length, and current assay results confirm graphite mineralisation over more than 3 kilometres.
Geological interpretation of the trenches confirms two main trends; named the “Main Trend” and the “Musinda Trend”.
Based on current results, Globe is planning a diamond drilling program to test the depth of graphite mineralisation before year end.
Globe has also commenced mineralogical testwork and is reviewing infrastructure and logistics options for a potential mining operation.
Globe is assessing other graphite prospects within the Chiziro Graphite Project licence area.
Notably, the company also controls the Kanyika niobium project in Malawi, which has a current total Resource of 68.3 million tonnes at 2,830 niobium and 135ppm tantalum.
Globe is capitalised at $18 million and holds around $20 million cash.
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