The Conversation (0)
Syrah Resources (ASX:SYR) announced a resource estimate for its Balama Graphite Project in Mozambique. The overall total Inferred Resource for the Balama Project, which to date includes Balama West and Balama East, is 1.15 billion tonnes at a grade of 10.2% TGC and 0.23% V2O5, containing 117 million tonnes of graphite and 2.7 million tonnes of V2O5. This exceeds the rest of the world’s reserves of graphite as calculated by the USGS (77 million tonnes as at 2012**).
As quoted in the press release:
Balama East Inferred Mineral Resource (prepared according to JORC guidelines) comprises a very high grade zone surrounded by extensive zones of medium to high grade graphite. The Inferred Resource as calculated by independent consultants, MSA Group (MSA), commences from surface to a depth of 300m as follows:
- The high grade Mepiche Zone has an Inferred Resource of 145 million tonnes at 15.1% TGC* and 0.43% V2O5 at a 12% TGC cut off
- The global Inferred Resource for Balama East is 579 million tonnes at 10.6% TGC and 0.26% V2O5 at a 5% TGC cut off
The Inferred Resource far exceeded the Exploration Target of 300-400 million tonnes at 11% TGC and 0.3% V2O5 for Balama East announced to the ASX on 13 November 2012 as had been calculated by Syrah Mineralisation at Balama East remains open in several directions
The overall total Inferred Resource for the Balama Project, which to date includes Balama West and Balama East, is 1.15 billion tonnes at a grade of 10.2% TGC and 0.23% V2O5, containing 117 million tonnes of graphite and 2.7 million tonnes of V2O5
High grade zones at Balama East and Balama West total 306 million tonnes at 16.1% TGC and 0.43% V2O5
The contained graphite of the Balama Project of 117 million tonnes far exceeds the rest of the world’s reserves of graphite as calculated by the USGS (77 million tonnes as at 2012**)
Click here to read the Syrah Resources (ASX:SYR) press release
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