- BlackEarth Minerals (BEM) materially increases its total graphite inventory by 32 per cent at its Maniry Graphite Project in Southern Madagascar
- A recently completed program delivered a JORC-compliant indicated and inferred resource for Razafy Northwest of 2.9 megatonnes at 9.82 per cent total graphite content
- A review of the company’s scoping study is now underway to include the economic impact of both the Razafy resources
- BlackEarth Minerals was up 8.7 per cent, trading at 12.5 cents at 12:35 pm AEDT
BlackEarth Minerals (BEM) has materially increased its total graphite inventory at its wholly-owned Maniry Graphite Project in Southern Madagascar.
The company said the total indicated graphite inventory has seen a 32 per cent increase, expanding in both tonnes and grade.
A recently completed program delivered a JORC-compliant indicated and inferred resource for Razafy Northwest of 2.9 megatonnes at 9.82 per cent total graphite content at the Maniry Project in Southern Madagascar
This estimate is the culmination of the company’s preliminary diamond drilling exploration program to identify shallow high-grade zones at Razafy Northwest.
BlackEarth said the additional resource offers a significant and material increase to the company’s inventory of very high-grade graphite.
BlackEarth’s Managing Director Tom Revy said the success at Maniry of discovering and subsequently defining a high-grade resource is an exciting outcome for the company.
“This additional discovery at Razafy NW high-grade resources near surface has the potential to materially enhance the project economics and significantly increase the projects life, and will be further investigated as part of the ongoing DFS,” Mr Revy said.
A review of the company’s scoping study is now underway to include the economic impact of both of the Razafy resources, as well as edits to a number of economic and project factors.
BlackEarth Minerals was up 8.7 per cent, trading at 12.5 cents per share at 12:35 pm AEDT.