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- BlackEarth Minerals (BEM) extends high-grade intersections at the Mainry Graphite Project in southern Madagascar
- Initial metallurgical testwork conducted on six samples from the diamond drilling program at Rafazy NW has extended intercepts announced last month
- Flotation tests show elevated concentrate grades up to 98.4 per cent
- Outstanding assay results are due to be received early next month and will inform a new resource model
- Shares are in the grey at 13.5 cents each at 11:30 am AEST
BlackEarth Minerals (BEM) says new assay results have extended high-grade intersections at the Mainry Graphite Project in southern Madagascar.
In a statement today the company said it expected final results from the Rafazy Northwest drilling campaign shortly, ahead of an announcement in October.
In the meantime, preliminary metallurgical work conducted by ALS in Perth tested six samples from the diamond drilling program, with initial flotation tests showing elevated concentrate grades of up to 98.4 per cent.
Notably, BEM said the latest results had extended high-grade intersections reported at Rafazy NW last month.
These extended intercepts include 32.7 metres at 16.3 per cent total graphitic carbon (TGC) from five metres, containing 15.3 metres at 25.2 per cent TGC.
Another now measures 39.9 metres at 9.4 per cent TGC from three metres, including 16 metres at 14.12 per cent TGC.
BlackEarth’s managing director Tom Revy said the latest results demonstrated the enormous potential value of the northwest area.
“The increased widths, continuity of high grade and metallurgical results show that the Maniry deposit, which includes the Razafy and Razafy Northwest areas, is comparable to the best projects in the world,” he said.
“Given the project’s sensitivity to feed grade, the results attained to date from the Rafazy Northwest area have the potential to significantly enhance our total project economics.”
BEM is set to receive the remaining assay results early next month and will move finalise a new resource model as soon as possible thereafter.
Shares were in the grey at 13.5 cents each at 11:30 am AEST.
