New High Grade Graphite at Razafy North West Region Delivers More Outstanding Results
- Final assays confirm known graphite mineralisation within the 'Razafy Domain' to be greater than 5km in length.
- Best intersections include:
o 32.9m at 9.7% TGC
o 29.7m at 8.4% TGC
o 23.2m at 8.6% TGC
o 8.2m at 10.1% TGC
- The Razafy Northwest ("NW") zone remains highly prospective to the north, south and east, and now extends over 1.2km
- Exploration indicates a very significant and large, high grade resource is evident in the region
- Significant work is now underway to finalise the Razafy Northwest Resource
- The defined Resource will add material size and grade to the Company's overall inventory of defined high grade Graphite
- The Exploration Program results demonstrate further the exciting potential for Southern Madagascar as being the new region for World Class graphite deposits
The Razafy Northwest high-grade discovery is part of the 'Razafy Domain' and directly along strike from the Razafy Mineral Resource. This discovery has now confirmed the known mineralisation within the 'Razafy Domain' to be in excess of 5km in length. The completed drilling program has not only highlighted the high-grade nature of the mineralisation in the area, but also the significant potential that exists in the immediate area to increase the Company's current Resource inventory at Maniry.
The Company's Board is delighted with the outcome of this very significant milestone and this discovery, along with other significant global investment in this region, positions Southern Madagascar as a potential leading supplier of battery grade graphite to feed the rapidly growing world demand for Electric Vehicles ("EV's") and other alternative energy sources in the future.
The successful diamond drill program has provided a better understanding of the scale and potential of the domain and has also delineated high grade mineralisation to compliment the initial stages of a mining operation. Work has commenced on defining the Razafy Northwest Resource which is planned to be released to the ASX later this Quarter.
All exploration works were carried within the Company's Exploration Target area containing an estimated 260Mt-380Mt at 6-8%TGC.
Commenting on the Razafy Northwest drilling results, BlackEarth Managing Director, Tom Revy, said:
"The confirmation of high-grade mineralisation at Razafy Northwest has further expanded the footprint of the overall Razafy Domain. Given the grades and widths returned and the fact that this mineralised area is open north, south, east and at depth the Board remains of the view that this area has the potential to significantly further bolster the value of the Maniry Graphite Project. This region has seen massive international investment over the last 1 - 5 years and we strongly believe this particular part of Southern Madagascar will evolve to become a globally significant supplier of graphite to the alternative energy sectors and EV markets in the future"
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About BlackEarth Minerals NL
BlackEarth Minerals (ASX:BEM) is a vertically integrated graphite developer with advanced mining projects in Madagascar and base metal prospects (Ni-Cu-PGE) in Western Australia. The Company holds the flagship Maniry Graphite Project which is located in Southern Madagascar, with the Bankable Feasibility Study (BFS) currently underway and a focus on value added products which are in high demand.
BlackEarth Minerals NL