- BlackEarth Minerals (BEM) is continuing to extend graphite mineralisation at the Razafy North West area within its Maniry project in southern Madagascar
- The company recently completed a 28-hole infill diamond drilling program to verify the continuity of mineralisation, test up-dip continuity and explore for depth extensions
- BlackEarth expects the program will further add to Razafy NW’s inventory resource which will be included in an upcoming definitive feasibility study
- Assays from the recent program are pending and BEM is gearing up to commence surface trenching
- Company shares are up 7.69 per cent to trade at 14 cents
BlackEarth Minerals (BEM) says drilling at the Razafy North West area continues to extend graphite mineralisation along strike and at depth.
The company recently completed a diamond drilling program at the target area which is located within the Maniry graphite project in southern Madagascar.
The 28-hole infill program was designed to verify the continuity of graphite mineralisation along strike between existing holes, to check for up-dip continuity and to explore for depth extensions.
This drilling program follows the Razafy NW mineral resource estimate (MRE) which was reported in 2021 and was based on 21 diamond drill holes.
The Razafy North West area has an indicated and inferred MRE of 2.9 million tonnes at 9.82 per cent total graphitic carbon for 283,000 ounces of contained graphite.
“We are particularly pleased that the drilling has largely confirmed the continuity of graphite mineralisation along strike and at depth and we look forward to seeing the assay results shortly,” Managing Director Tom Revy said.
BlackEarth also expects the recently completed program will contribute high grade material to the inventory resource and any updates in the resource will be included in a definitive feasibility study (DFS).
“Every new tonne of high grade material we add to our mineral inventory from Razafy NW has the potential to increase project value for our shareholders and we look forward to informing the market about this in our soon to be published DFS,” he said.
While BlackEarth awaits assays, it will undertake surface trenching on the western end of drill lines.
Company shares were up 7.69 per cent to trade at 14 cents at 3.18 pm AEST.