Black Rock Mining (ASX:BKT) has received initial metallurgical test work results from a flowsheet optimisation program being undertaken for its Mahenge Graphite Project located in Tanzania.
The company returned excellent results achieving purity of 99.6% together with a significant increase in very coarse flake for primary ore from the Ulanzi deposit.
The Canadian metallurgical development program is designed to optimise and finalise the Mahenge flowsheet to a definitive feasibility study level.
John de Vries, interim CEO, commented: “The initial pilot plant test results confirm we have an exceptional ore that can be easily beneficiated into a high purity concentrate.
“We were delighted to see we also have super jumbo flakes in our flake size distribution. We expected this, given earlier test work ground our flakes to a size where it was impossible to achieve the super jumbo sizing.”
Black Rock is developing its 100% owned Mahenge Graphite Mine located in Tanzania, which has an estimated net present value (NPV) of US$624 million.
Mahenge is an industry-leading low capex, low cost multi-generational high grade graphite mine.
Metallurgy result summary
In summary, the initial Canadian test results achieved the highest ever purities of 99.6% carbon for Ulanzi primary ore and increased yields of very coarse flake.
High graphite purities are remarkably consistent across the size fractions and the proportion of fine graphite has been reduced.
Replication of high purity concentrate recoveries from first tests at a new lab is significant as it independently validates the robust processing characteristics of Mahenge ore and provides scope for further optimisation improvements.
Results from a conventional flotation circuit, with process optimisation work expected to deliver additional improvements.
Further results will be released as the program advances over the next three months.
Board buying shares on-market
Recently, multiple members of Black Rock’s board have been purchasing stock in the company through on-market trades.
Stephen Copulos purchased 1 million shares for $74,407 increasing his holding to 91.8 million shares.
John de Vries purchased 150,000 shares for $10,500 increasing his holding to 650,000 shares.
Finally, Gabriel Chiappini also purchased 200,000 shares for $14,000 increasing his holding to 5.1 million shares.