BlackEarth latest assays show consistent, high-grade graphite

Published at Jul 19, 2018, in Small Caps

This product is classified as ‘very high risk’ in nature due to its location and geopolitical situation of the region. Finfeed advises that extra caution should be taken when deciding whether to engage in this product, however if you are not sure whether it is suitable for you we suggest you seek independent financial advice.

BlackEarth Minerals NL (ASX:BEM) has updated the market on the assay results recently received from the Razafy resource definition drilling program at the Maniry Project in southern Madagascar.

Assay results have now been received for 51 of the 65 holes drilled during this program. The remaining results are expected to be returned over the next fortnight, with a maiden JORC-compliant Resource Estimate for the project expected to be released to the market early next month.

The assay results recently received continue to demonstrate several positive factors; that the two ore bodies at Razafy are thick, consistent and high-grade, and that the ore bodies are currently open down dip and along strike in both directions.

Assay results that demonstrate Razafy ore bodies are thick, high grade and consistent, include:

  • 42m at 7.1% Total Graphitic Content (TGC) (inc. 7m at 10.7% TGC)
  • 25.1m at 7.6% TGC (inc. 6m at 10.8% TGC)
  • 24.4m at 7.3% TGC (inc. 4m at 10.2% TGC)

In addition, BEM’s 2,000 metre Resource Definition drill program at the Haja Prospect is now more than 50% complete.

Of course, as with all minerals exploration, success is not guaranteed — consider your own personal circumstances before investing, and seek professional financial advice.

 Razafy Area–Completed Drill Holes – sections A-AA and B-BBRazafy -Cross Section–See A-AA Razafy -Cross Section–See B-BB

BEM provides Haja drilling update

At the Haja Prospect 13 of the 25 planned drill holes have now been completed. The company stated that drilling is progressing well and is expected to be completed within the coming month with a maiden resource estimation in Q4 2018.

Previous drilling at the Haja Prospect has identified extensive thicknesses of graphite mineralisation including intersections of 70m at 5.3% Total Graphitic Carbon.

Managing Director, Tom Revy commented on today’s announcement: “In our first 6 months since listing, BEM has successfully demonstrated the enormous potential that exists at the Maniry Graphite Project.

“General exploration, drilling results and mineralogy has all exceeded our initial expectations with both the Mineral Resource and commencement of definitive metallurgy to be announced shortly. We started with a “fast track” to cash flow strategy and that approach is clearly paying off as we move into the development phase,” he said.

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

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