BlackEarth Minerals has released a maiden mineral resource estimate for the Haja graphite deposit at its Maniry project in Madagascar.
BlackEarth Minerals (ASX:BEM) has completed a maiden mineral resource estimate for the Haja graphite deposit at its Maniry project in Southern Madagascar.
The inferred resource estimate comes in at 9 million tonnes (Mt) at 5.79 percent total graphitic carbon (TGC) for 521,000 tonnes of contained graphite at a 5-percent TGC cut-off grade.
Haja is located 800 meters west of Maniry’s Razafy graphite deposit, which has a resource of 11.2 Mt at 7.1 percent TGC, as per an August announcement from the company.
BlackEarth also completed a trenching program this month at Maniry that was focused on strike extensions for the Razafy deposit and on uncovering any potential high-grade lenses in the area.
Alongside the trenching program was preliminary metallurgical testwork that saw concentrate grades from core samples range from 93.6 to 95.6 percent TGC.
“Following the IPO in January this year, we have delivered the maiden resource within seven months of listing,” BlackEarth Managing Director Tom Revy said in a statement. “This resource has delivered a high grade of graphite with favourable mineralogy. I look forward to growing the resource and commencement of our next major deliverable: the scoping study.”
The company is aiming to complete a scoping study at Maniry based on the Razafy deposit in January.
While BlackEarth remained relatively quiet about its 2019 schedule in the statement — scoping study plans aside — the company said it will be announcing its scoping study results and plans for the new year in mid-January.
The Maniry project is considered highly prospective for large-scale, high-quality graphite deposits and currently sits at an advanced evaluation stage. The company has a secondary graphite project in Madagascar, Ianapera, located approximately 50 kilometers north of Maniry.
BlackEarth’s share price was up 3.53 percent at the end of trading on the ASX on Thursday (December 27), closing the day at AU$0.088.
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Securities Disclosure: I, Olivia Da Silva, hold no direct investment interest in any company mentioned in this article.