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Mineral exploration and development company, BlackEarth Minerals NL (ASX:BEM) made an announcement on 27 December 2018 stating that it is consolidating its strategy to fast-track the development of its wholly owned Maniry Graphite Project in Southern Madagascar with the completion of a maiden JORC compliant Mineral Resource Estimation (MRE) for the Haja graphite deposit which is adjacent to the Razafy resource.
As per the Haja Mineral Resource Estimate, the Haja inferred resource, comprises 9 million tonnes @ 5.79% Total Graphitic Carbon (TGC) at a 5 percent TGC cut-off grade.
The Haja deposit is located 800 meters to the west of Razafy, and its mineral resource estimate consolidates the Companyâs Maniry Project resource base, adding a substantial resource to the adjacent high-grade Razafy Graphite deposit.
The resource estimate is based on 897 samples which were collected from 28 diamond drill holes which are positioned on a 100m north-south by 50m east-west grid over six sections. In December 2018, the company completed its trenching programme at the Maniry Project, which focused on strike extensions for Razafy and uncovering prospective high-grade lenses in its vicinity.
ALS Global Laboratory completed the Preliminary metallurgical test work on Haja Core Samples in December 2018. The test work was conducted on three composites (i.e., 93, 94, 95) which were prepared from the core of the three drill holes (MND0093, MND0094 and MND0095).
All the three composites reported approximately a 30 percent proportion in weight to the small flake size fraction with concentrate grades ranging from 93.6% to 95.6% TGC. The composite 93 was the most weathered composite material, and it produced mostly small to fine flakes, 32 percent, and 46 percent respectively in weight percentage for these size fractions.
Other composites were less weathered material than Composite 93, and they demonstrated different flake size distribution, with an increase in large flakes â 26 percent and 19 percent respectively in weight percentage for the large flake size fraction.
At the Annual General Meeting (AGM) which was held on 30 November 2018, the Managing Director of BlackEarth informed that the company is well positioned for further growth in the upcoming year, as the graphite continues to remain a key component for several high growth industries. Further, the demand for large flake graphite is continuously increasing due to the increasing demand for electric vehicles, energy storage and the next generation of fire-retardant building materials.
In the last six months, the share price of BEM increased by 3.53 percent as on 27 December 2018. BEMâs shares traded at $0.087 with a market capitalization of circa $7.83 million as on 28 December 2018 (AEST 4:00 PM).
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