Aziana commences graphite search in Madagascar
THE DRILL SERGEANT: Madagascar-focused exploration play Aziana Limited (ASX: AZK) has commenced exploration on graphite exploration licenses situated with the company’s Belanitra graphite project in the Fisoroana-Belanitra district.
The exploration permit (TN20187) comprises five tenement squares covering an area of 31.25 square kilometres.
The licensed area is held by Aziana’s wholly-owned Madagascar subsidiary, Tanety Lava, and has an environmental permit that allows for exploration to start immediately.
Geological map showing the Aziana graphite license TN20187. Source: Company announcement
According to Aziana the license lies within a region of Madagascar with a known history for mining of high quality flake graphite.
Aziana explained that Government geological reports from 1912 and 1974 described four historic graphite mines within the license area, in which the graphite is described as containing a high proportion of large flake material.
The two mines of most importance to Aziana are located on opposite limbs of a syncline.
The first of these is the Befotaka mine, which is located on the western limb in the north of the license in a sequence of weathered dipping micaschists with an original working face up to 40 metres high.
“A 150 metre-wide face has exposed four seams of graphite between 1.5 metres and 2 metres thick over a 15 metre interval each assaying approximately 30 per cent carbon,” Aziana Said in its ASX announcement.
“The schists between these high-grade seams assay between 2 per cent to 6 per cent carbon and also contain large-flake graphite.”
The second mine is the Antsahalava mine, which is located on the eastern limb in the south of the license area.
Here the graphite occurs in a dipping mica schist sequence and Aziana said geological reports describe a 7m thick graphite seam under a cover of about 8m overburden.
“The immediate exploration program has the objective of confirming the extent and quality of the graphite seams by mapping and trench sampling,” Aziana continued.
“This will be followed up by shallow diamond drilling using the company’s own GT80 rig to confirm the depth of the saprolite zone.”
Aziana shares were up 5.68 per cent to 9.3 cents in morning trade.