BlackEarth Minerals Reports High-Grade Mineral Resources
THE DRILL SERGEANT: BlackEarth Minerals (ASX: BEM) announced an increase to the graphite inventory, by both tonnes and grade at the company’s 100 per cent-owned Maniry graphite project in Southern Madagascar.
BlackEarth Minerals explained the increase came via completion of an upgraded JORC Code-compliant Mineral Resource estimation for the Razafy Northwest (NW) graphite deposit consisting of an Indicated and Inferred Mineral Resource of 5.3 million tonnes at 8.5 per cent total graphitic carbon (TGC) at a 3 per cent TGC cut-off grade for 452,000 tonnes of contained graphite.
The majority of the Mineral Resource, 3.1 million tonnes at 8.6 per cent TGC for 266,000 tonnes contained graphite has been classified in the higher confidence Indicated classification, with the remainder classified as Inferred.
Total Mineral Resources for the Maniry project now stand at 40 million tonnes at 6.5 per cent TGC for approx. 2.7 million tonnes contained graphite.
“We have again added both grade and tonnes to our Maniry graphite inventory,” BlackEarth Minerals managing director Tom Revy said in the company’s ASX announcement.
“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.
“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.”
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