BlackEarth on verge of releasing maiden JORC Resource
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 released the final round of assay results from its thick, high-grade Razafy resource definition drilling program at the Maniry Project in southern Madagascar.
With all assays now received from the 65 holes drilling program, the company is preparing to release a maiden JORC-compliant Resource estimation for the Razafy area in early August, a potential share price catalyst.
Managing Director, Tom Revy is confident ahead of delivering the Resource estimate, saying “These final results for Razafy re-affirm the Board’s confidence in confirming a sizable, high quality Resource to be defined in the Maniry Graphite Project.
“Our first six months in Madagascar has been extremely positive in terms of work completed and outcomes.
“While initial exploration and mineralogical results have exceeded our expectations, we also need to remember that we have only scratched the surface of this large graphitic system.”
Of course, as with all minerals exploration, success is not guaranteed — consider your own personal circumstances before investing, and seek professional financial advice.
High grade mineralisation over 1.2 kilometres
The assay results recently received continue to demonstrate that the two ore bodies at Razafy are thick, consistent and high grade.
These results have also shown that the Razafy ore bodies are open along strike and down dip.
In particular, step out drilling to the north-west of Razafy has identified high grade mineralisation such as 26.95 metres at 7.5% total graphitic carbon (TGC), indicating high grade mineralisation is proven for over 1.2 kilometres at Razafy and is still open in both directions.
Assay results for the four exploration holes drilled at the Razafy East Prospect have also been received.
These included 13.29 metres at 6.5% TGC, 12.51 metre at 7.1% TGC and 14.23 metres at 6.6% TGC.
Consistent thicknesses and grades from all four holes continue to demonstrate the potential for multiple economic graphitic schist lenses proximal to the high grade Razafy Deposit.
These drilling results will be part of the maiden Resource estimation for the Razafy area.
Haja Drilling Update
BlackEarth has also completed 21 of the 25 planned drill holes spanning a distance of 2000 metres at the Haja Prospect.
Management said that drilling is progressing well and is expected to be completed within the coming week with a maiden Resource estimation in the December quarter of 2018.
Previous drilling at the Haja Prospect identified extensive thicknesses of graphite mineralisation, including intersections of 70 metres at 5.3% TGC.
Dual projects both underexplored
The company’s Madagascan projects consist of two primary exploration areas, the main Maniry project in the south, and the Ianapera project in the north.
Maniry is highly prospective for large-scale, high-quality graphite deposits, and it appears to be delivering on its early promise.
However, it would appear that there is substantial scope for Resource expansion with the recent identification of further lenses to the east.
This highlights the prospectivity of the immediate area which, based on mapping and previous exploration, only represents five per cent of the current Maniry Project area.
Ianapera is approximately 50 kilometres north of Maniry, consisting of a series of high-grade outcrops, up to 800 metres long and 30 metres wide.
They possess graphite mineralisation within a broader graphite trend, and as a potentially larger conductive body, it could represent a substantial graphitic mineralised system.