BlackEarth Minerals NL (ASX:BEM) has received further strong graphite results from diamond drilling at Razafy Northwest within the wholly-owned Maniry Graphite Project in southern Madagascar, which it says confirms the continuity of the high-grade nature of mineralisation at depth and along strike of the resource.
The company now believes it is advantageous to integrate the Razafy Northwest area into the project’s upcoming definitive feasibility study (DFS) as an “initial priority feed”.
Additional assay results from drill holes MNDD114 to MNDD119 and MNDD130 to MNDD135 include:
- 22.3 metres at 8.14% total graphitic carbon (TGC) including 10 metres at 11.36% (MNDD118);
- 38.25 metres at 6.45% including 8.1 metres at 10.16% (MNDD130);
- 13.8 metres at 13.98% including 8 metres at 18.60% (MNDD130); and
- 35.95 metres at 8.18% (MNDD134)
Application sent to expand licence
“The current and expanding database on the Razafy NW area has certainly surpassed our initial expectations; exploration activities are continuing in the area,” BlackEarth managing director Tom Revy said.
“Our new approach to accelerate its development as part of the current DFS is a critical component towards ultimately achieving project development finance,” he added.
BlackEarth Minerals has sent applications to the Madagascan mining authorities to expand the current mining licence to include the Razafy Northwest resource.
It said the approach would position the project to start up with a higher grade material to take advantage of the rising price of natural graphite concentrate as well as to provide potential project financiers an optimum payback period.
The program study is now likely to be completed in October 2022 in time to integrate the resource into the DFS.
Final assay results from the area were expected shortly, the company said.