BKT recommences drilling at Mahenge Graphite Project
Black Rock Mining (ASX:BKT) this morning announced that it has recommenced the Definitive Feasibility Study (DFS) for its 100%-owned Mahenge Graphite Project in Tanzania by drilling a metallurgical sample programme.
The drilling is set to begin immediately, with BKT having raised A$4.75 million in November to fund the programme. The planned metallurgical drilling and bulk sampling program at Ulanzi is due to be completed by January 2018 with the aim of improving confidence of consistently producing product to customer specification.
The programme is designed to define plant performance and product variability from the Ulanzi pit, via the bulk sampling of 500 tonnes for pilot plant testing in 2018.
Of course, as with all minerals exploration, success is not guaranteed – consider your own personal circumstances before investing, and seek professional financial advice.
BKT’s Executive Director and CEO John de Vries commented: “We are commencing the drilling and bulk sampling now as we want to ensure we complete it before the onset of the wet season. We are increasingly confident that we will see legislative clarification from the Tanzanian Government in the not too distant future, and are positioning the company to progress the Mahenge project to deliver a Definitive Feasibility Study in the second half of CY 2018.
“In commencing drilling we are voting with our feet and being proactive. We think Mahenge is the best undeveloped graphite project in the world, and we remain committed to developing it.”
BKT has one of the world’s largest flake graphite Resources at its Mahenge Project with a JORC compliant Mineral Resource Estimate of 211.9m tonnes at 7.8% TGC (total graphitic carbon) for 16.6m tonnes of contained Graphite, making this one of the largest JORC compliant flake graphite Mineral Resource Estimates in the world. Over half of the Mineral Resource is in the Measured and Indicated categories.
With a successful DFS and associated financing, construction could commence in 2018 with first production in late 2019.