Malagasy JV partner scores goods hits on graphite prospect

THE DRILL SERGEANT: Malagasy Minerals’ Joint Venture partner and operator in the Madagascar graphite project, TSX-listed Energizer Resources has reported drilling results from the project’s Molo prospect.

Energizer announced the Toronto market it had received the remaining phase of results from drilling conducted in November 2011 at Molo.

 

The graphite trends identified to date by Energizer include: Berenty,
Bemelo, Mahasoa, Bepeha, Besavoa, Fondrana, Mainty, Manga, Molo, Bevaro,
Jaky, Fotsy, Rano, Seta, Tanantsoa, Vavy, Ampanihy. Red Outline-
Energizer ground: Green Outline- EGZ-MGY Joint Venture Area. Source:
Company announcement

The results concluded the intersection of graphite mineralisation with composite grades of between 7.3 per cent and 11.17 per cent carbon.

Energizer said the assays “support the company’s intention” to delineate a formal resource estimate for Molo and as a result, it “has selected the Molo Deposit to be brought to mine development”.

The results reported by Energizer included a drill hole from the central core of the Molo deposit, which intersected 106 metres of graphite mineralisation at 8.44 per cent carbon, including a higher-grade interval of 37m at 11.17 per cent carbon.

Another drill hole intersected 27m of graphite mineralisation at 7.25 per cent carbon.

In its release to the ASX Malagasy let Energizer do the talking.

“These latest assay results confirm that this surficially exposed graphitic ridge (which extends for a minimum of 12 kilometres in strike length), extends to a vertical depth of at least 108 metres,” Energizer Resources said in its announcement to the Toronto Stock Exchange.

“The company intends to expedite this (mine development) process and is targeting 2014-2015 for production.”

In its ASX release Malagasy noted Energizer’s evaluation included metallurgical analysis, which confirmed that jumbo flake (plus-50 mesh) graphite at an average purity of 93 per cent carbon can be easily liberated through simple crushing of the Molo graphite.
The Australian company explained jumbo flake graphite is considered among the most valuable due to its use in industrial applications such as batteries for electric cars and as a result attracts a premium price.

Malagasy holds a 25 per cent stake of the Madagascar Joint Venture as well as owning 7.5 million Energizer shares worth approximately C$2 million.

Malagasy’s interest is free-carried until the completion of a Bankable Feasibility Study.