BlackEarth Minerals are growing increasingly confident they have struck a world-class graphite project following high-grade drill results at the Razafy Northwest target, part of its Maniry Graphite project in southern Madagascar.
Following assays and metallurgical test work showing total graphite content as high as 25.2 per cent and concentrated grades of over 98pc, respectively, the company intends on using the new data to boost the project’s imminent resource modelling.
“These latest results demonstrate the enormous potential value that exists in the northwest area,” managing director Tom Revy said.
“The increased widths, continuity of high grade and metallurgical results show that the Maniry deposit (which includes the Razafy and Razafy NW areas) is comparable to the best projects in the world.
“Given the project’s sensitivity to feed grade, the results attained to date from the Razafy Northwest area have the potential to significantly enhance our total project economics as per the table below.”
BlackEarth said the remaining results should arrive in early October, with an announcement made to the market shortly after.
A new resource model will be finalised as soon as possible after the final results are received.
The company’s Australian Stock Market-listed was 13.5c today (11:04 am GMT+ 8 hours).