BlackEarth Minerals NL (ASX:BEM) has further enhanced the growth potential of the Maniry Graphite Project in southern Madagascar with high-grade assay results extending strong intersections in the Razafy Northwest area.
Once final assay results have been received and collated in early October, the company expects to finalise a new resource model.
Intersections extended
Previous intersections have now been extended and include:
- 32.7 metres at 16.3% TGC from 5 metres including 15.3 metres at 25.2% TGC;
- 39.9 metres at 9.4% TGC from 3 metres including 16 metres at 14.12% TGC;
- 38.2 metres at 11.9% TGC from surface; and
- 25.8 metres at 12.9% TGC from 17 metres.
Also providing encouragement for BlackEarth, preliminary metallurgical test-work has produced concentrate with elevated grades up to 98.4% total graphitic carbon (TGC).
“Enormous potential value”
BlackEarth managing director Tom Revy said: “These latest results demonstrate the enormous potential value that exists in the northwest area.
"The increased widths, continuity of high grade and metallurgical results show that the Maniry deposit (which includes the Razafy and Razafy NW areas) is comparable to the best projects in the world.”
Cross-section based on drill hole NW09-A and trench MNT069 at Razafy Northwest.
Final results from the Razafy Northwest drilling campaign are expected shortly.
Resource update
These results will be used to update the company’s resource inventory which will be released in the December quarter of 2021.
Preliminary metallurgical test-work at ALS Perth involved the testing of six samples produced from the diamond drilling program at Razafy Northwest. Head grades ranged from 3.64% to 20.82% TGC.
First pass metallurgical test-work returned strong results, with initial flotation tests achieving high-grade concentrate 98.4% TGC with recoveries generally above 90%.
Maniry NPV and IRR sensitivities to an increase in feed grade.
"Given the project’s sensitivity to feed grade, the results attained to date from the Razafy Northwest area, have the potential to significantly enhance our total project economics,” Revy added.