Malagasy Minerals confirms graphite field at Maniry

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THE DRILL SERGEANT: Malagasy Minerals (ASX: MGY) has claimed to have confirmed the company’s Maniry project in Southern Madagascar is host to a major graphite field.

The company said recent systematic traverse surface sampling has identified at least 12 major lenses of high-grade graphite mineralisation with widths ranging from 75 metres to 250 metres and average grades from 5 per cent graphitic carbon to 12.13 per cent graphitic carbon.

Traverse rock chip results include:

Lens B:
150 metres at 8.28 per cent carbon;

Lens D:
175m at 11.75 per cent carbon;

Lens E:
250m at 8.67 per cent carbon;

Lens J:
90m at 12.13 per cent carbon;

Lens K:
100m at 9.80 per cent carbon;

Lens L:
150m at 10.18 per cent carbon; and

Lens M:
175m at 7.26 per cent carbon.

The Maniry project is located in the southern part of Malagasy’s Ampanihy project, which it has identified as being prospective for not only high-grade, high-quality graphite deposits but also for large-scale intrusive related nickel-copper-PGM deposits and molybdenum-selenium-REE deposits.

 

Project location plan. Source: Company announcement

 

Graphite exploration completed by Malagasy earlier this year at Maniry identified a series of large, high-grade outcrops of graphite mineralisation within a broader graphite trend covering an area of approximately 8 kilometres by 4 kilometres.

To determine the continuity of grade across the width of these graphite lenses a series of the outcrops were selected for more detailed sampling.

“This program of work has delineated substantial widths of graphite mineralisation at remarkably consistent grades and clearly demonstrates that potential exists at the Maniry project for a significant graphite deposit(s) to be defined,” Malagasy Minerals said in its ASX announcement.

Malgasy considers it has confirmed the potential of the Maniry project and will now enter the next phase of assessment, which will involve:

Mineralogical evaluation to determine flake size and high level quality characteristics;

Determination of potential upgrade purity levels; and

If the above work justifies, a program of additional traverse sampling and trench-costean sampling will be undertaken when the 2014 field season commences.

Website:
www.malagasyminerals.com