- BlackEarth Minerals (BEM) will include the Razafy Northwest area in its definitive feasibility study (DFS) for its Maniry graphite project in Madagascar, after recording “outstanding” assays
- The company sent applications to the Madagascan mining authorities to expand the current mining licence
- It comes after diamond drilling results from the Razafy Northwest area confirmed the continuity of high-grade graphite mineralisation at depth and along strike
- The area will be incorporated into the DFS as priority feed material and is expected to increase to proposed mine life for the project
- Shares in the company are in the grey, trading at 7.7 cents each at 10:18 am
BlackEarth Minerals (BEM) will incorporate the Razafy Northwest area in its definitive feasibility study (DFS) for its Maniry graphite project in Madagascar, after recording “outstanding” assays.
The company sent applications to the Madagascan mining authorities to expand the current mining licence.
It came after diamond drilling results from the Razafy Northwest area confirmed the continuity of high-grade graphite mineralisation at depth and along strike.
One of the best results came from MNDD118 with 22.3 metres at 8.14 per cent total graphite content (TGC) including 10 metres at 11.36 per cent TGC.
The area will be included into the DFS as priority feed material and is expected to increase to proposed mine life for the project.
Managing Director Tom Revy said the results from the area surpassed his expectations.
“Our new approach to accelerate its [Ratafy Northwest] development as part of the current DFS is a critical component towards ultimately achieving project development finance,” he said.
Final assays from diamond drilling in the area are expected soon, which allow BEM to publish an updated and expanded resource statement.
Shares in the company were in the grey, trading at 7.7 cents each at 10:18 am.