Black Rock finishes phase one with a win

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Published 10-NOV-2015 16:26 P.M.

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1 minute read

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Black Rock Mining (ASX:BKT) will begin infill drilling at its Mahenge project in high spirits after an initial drilling campaign finished with high grades of graphite.

It has been drilling an initial 17 holes at its Ulanzi graphite prospect in Tanzania.

As previously featured on Finfeed.com, the first nine holes of the 17 hole program also returned high grades including:

  • 92m @ 8.5% total graphitic carbon (TGC) including 12m @ 14% TGC
  • 52m @ 10.4% TGC including 8m @ 13.81% TGC
  • 32m @ 9.25% TGC including 10m @ 16.32% TGC

Today it told its investors that the last seven holes included hits of:

  • 73m @ 10.25% TGC including 20m @14.48% and;
  • 72m @ 9.43% TGC including 18m @ 13.18%

Calling the results a “solid foundation” for an upcoming infill program, BKT said none of the holes of the 17 drilled so far had tested the eastern hanging wall side of the mineralised structure at Ulanzi, indicating further upside to come.

It is now planning on drilling a 30 hole infill program, although this could be extended by a further 15 holes if warranted.

It said while the initial 17 holes had tested a 1km strike extension, the infill program would test an additional km of the 5.5km Ulanzi structure.

BKT also said the drilling would be the catalyst for calculating a resource at Ulanzi.

BKT and Ulanzi

The Ulanzi prospect forms part of the much broader Mahenge tenure for BKT in Tanzania.

The tenure is made up of 1500 sq.km of tenements, and is close to the famous Cabo Delgado region of Mozambique.

The region is responsible for some of the largest graphite reserves in the world, with graphite becoming a hot commodity in recent times on the back of buzz surrounding lithium-ion batteries.

Not too long ago BKT was trading under the name of Green Rock Energy, exploring geothermal energy resources in South Australia.

Since March 2015 however, BKT has changed tact to pursue a much more commercially viable resource: Graphite.

tags

GRAPHITE


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