BlackEarth Minerals NL (ASX:BEM) has fielded more “outstanding” results from a 1,670-metre diamond drill program at the high-grade Razafy Northwest target, which forms part of the Maniry Graphite Project in Southern Madagascar.
Essentially, the follow-up drilling program has generally verified the continuity of graphite mineralisation from last year’s initial drill campaign.
Some of the best hits include:
- 15.9 metres at 14.5% total graphitic carbon (TGC);
- 27.2 metres at 12.5%;
- 8.6 metres at 12.8%; and
- 6.7 metres at 10.7%.
Further assays from the Razafy NW target are expected in the coming weeks. In the meantime, the latest results will be incorporated with an independent, soon-to-be-released definitive feasibility study.
Culminating year of exploration
Commenting on the results, BlackEarth managing director Tom Revy, said “We’re very pleased with these outstanding initial assay results and we look forward to receiving additional data over the next few weeks.
“These results are the culmination of a range of exploration activities we’ve undertaken at our Maniry Projects over the last year and they further validate the high quality of our expanding graphite resources.
“We have focused on resource expansion by size and grade over the last year and this has been achieved with even further upgrades to our mineral resource expected in the short term.
The findings so far
Interestingly, comparing Razafy’s assayed graphite grades with those that were visually logged indicates the visual estimates are similar — albeit conservative — next to the final results.
Revy went on to say the graphite assays represented two key benefits for the BlackEarth team.
“First, the additional resource grades and tonnages will be implemented into our DFS, which should provide a substantial and material increase to our projected mine life and overall project economics,” he explained.
“Second, our robust project economics and early-stage mine development plans position us well to further develop our relationships with existing and proposed, new downstream processing ventures as we push forward with our commitment to become a major contributor of material to the battery power and electric vehicle markets,” Revy concluded.