BlackEarth Minerals NL (ASX:BEM) has materially increased its total graphite inventory by both tonnes and grade at the Razafy Northwest (NW) Graphite Deposit within the Maniry Graphite Project in Madagascar.
The Razafy NW resource has been upgraded to 5.3 million tonnes at 8.5% total graphitic carbon (TGC), lifting total Maniry resources to 40 million tonnes at 6.5% TGC.
Razafy NW mineral resource estimate.
The majority of the resource has been classified with a high degree of confidence at an ‘indicated’ classification, with the remainder classified as ‘inferred’.
This resource estimate is the culmination of BlackEarth’s recent diamond drilling program to identify further shallow high-grade zones at Razafy NW.
The successful program was completed earlier this year and will form an integral component of the company’s current DFS activities, which have been progressing in parallel with the resource estimation process.
BlackEarth managing director Tom Revy said: “We have again added both grade and tonnes to our Maniry graphite inventory.
“The current plan within the DFS is to run the first stage (years 1-3) of the Project using high grade feed material sourced from Razafy NW.
“The more we explore in the area, the more we are excited about the real potential of the area and the value enhancement it can ultimately bring to our Maniry Graphite Project.”
Maniry Project resources.
Revy added: “The current resources at the project are within an exploration target of 260-280 million tonnes of TGC.
“We will continue to invest in exploration in the future to continually grow our resource base and demonstrate the true potential of this project.
“Since listing the company in January 2018, we have developed a resource base of over 40 million tonnes from zero, and will continue to build on this existing resource.”
DFS due in October 2022
Evidence of higher-grade material of about 9-10% TGC within the Razafy NW resource will be a key focus for early mine feed into the current Maniry DFS due to be completed in October 2022.
Moreover, near-surface mineralisation at Razafy NW remains open along strike and down dip with the potential to add to the company’s overall inventory of defined high-grade graphite.