BlackEarth Minerals NL (ASX:BEM) has identified graphite mineralisation below the proposed open pit indicated resource levels at Maniry Project in Madagascar providing the potential for a resource increase.
A drilling program completed at the project included 3,300 metres of infill drilling at the Razafy resource area and 600 metres of geotechnical drilling.
Two holes in the infill program returned 10.5 metres at 8.97% total graphitic carbon (TGC) from 22 metres and 9.3 metres at 9.19% TGC from 54.7 metres.
Path to DFS completion
BlackEarth managing director Tom Revy said, “The completion of the Razafy infill drill program lies on the critical path for the completion of the Maniry Graphite Project DFS which is still expected to be completed by mid-2022.
"The importance of consistency in product to offtakers via final metallurgical variability test-work is expected to be demonstrated shortly and this data will be used in the development of the company’s measured resource expected to be announced in coming months.”
The company’s current resource inventory.
Completion of the drilling program is seen by BlackEarth as an integral component of the Maniry definitive feasibility study (DFS) which is due to be completed in mid-2022.
The information collated by the company to date is consistent with all earlier drill data from the Razafy resource area.
Measured resource estimate
BlackEarth has started modelling and interpretation of data to be included in a measured resource estimate expected to be produced in coming months.
"The Razafy resources sit within the company’s granted 40-year mining lease and with the project’s exploration target of 260-380 million tonnes at 6-8% TGC,” Revy said.
"Whilst this release is reporting on the two holes – RAZ13-13 and RAZ 13-25, it is important to note that for shareholders, the identification of continuing graphite mineralisation at depth across both Razafy lenses has the potential to materially add to the project’s mine life.”
The completed program is expected to add a material increase to the company’s stated graphite inventory resource.