BlackEarth Minerals latest assays from Razafy northwest continued to build on the potential for the high-grade graphite providing the priority feed for its Maniry project in southern Madagascar.
Additional results will enable the explorer to publish a swollen resource statement with the potential for a long mine life extension.
Now in a position to kickstart production with higher-grade material, applications have been sent to expand the project, which already targets 2500 tonnes of fast-selling premium concentrate a year.
Maniry project area
The company said an expanding database over the area had solidly surpassed initial expectations.
“Our new approach to accelerating its development as part of the current definitive feasibility study is a critical component towards ultimately achieving project development finance,” managing director Tom Revy said.
Exploration will continue over Razafy as the company incorporates its material into the DFS set for October.
- 22.3m at 8.14% TGC incl. 10m at 11.36% TGC (MNDD118)
- 38.25m at 6.45% TGC incl. 8.1m at 10.16% TGC (MNDD130)
- 13.8m at 13.98% TGC incl. 8m at 18.60% TGC (MNDD130)
- 35.95m at 8.18% TGC (MNDD134)
BEM’s Australian Stock Exchange-listed share price has risen 3.9 per cent today, selling at 8c (10.58 am UTC+ 8 hours).