Black Rock Mining declares largest resource in Tanzania

Published at Feb 29, 2016, in Mining

Black Rock Mining (ASX:BKT) has declared it has the biggest JORC graphite resource in Tanzania and the highest grade flake in the country.

Releasing its maiden JORC resource for its Mahenge project in Tanzania today, the company said that as a result of drilling over six months, it was able to declare a maiden resource of 131.1 million tonnes at an average grade of 7.9% total graphitic carbon.

It said that this makes it the fourth largest graphite resource in the world, as well.

About 40% of the total resource is within the higher ‘indicated’ category, with the rest falling in the less sure ‘inferred’ category.

The resource also contains a high-grade portion of 37.6Mt @10.2 TGC, or 16.6Mt @11.1% TGC.

This, BKT told investors, opens the possibility of an earlier payback period once production gets underway.

“The large Mahenge mineral resource offers significant flexibility for potential development into a long life (+30 year) mining operation,” it said in a statement.

“It has potential to be mined from multiple zones at low strip ratios, high-graded to accelerate capital payback in early years and can be scaled up in the future due to the large resource.”

A breakdown of BKT's resource by deposit

A breakdown of BKT’s resource by deposit

The company has yet to undertake a pre-feasibility study on the project though, with it telling shareholders that it is slated to release a scoping study next month with a PFS due some time after that.

Paying homage to the company’s exploration team and shareholders, BKT chairman Steven Copulos said that the JORC resource was justification for its strategy.

“This large-scale maiden resource is an excellent outcome for Black Rock Mining shareholders and justifies our commitment to explore the Mahenge region,” he said.

“The large resource with significant higher-grade portions and straightforward metallurgy are the key building blocks for the current scoping study.”

But while the company will move into scoping study and PFS mode, the drillbit won’t stop for BKT.

Over April and May it is planning on testing the eastern flank of Ulanzi, the flagship deposit, to define additional zones.

It is hoping to move more resource from the ‘inferred’ category to the ‘indicated’ by doing so – saying that while the overall resource would go up as a result of the drilling the main aim of the drilling would be to shore up its reserve.

BKT also said that it would focus on finding near-surface high-grade targets.

View Our Investment Portfolios

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.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

Australian ASX Small Cap stocks | Why is Australia’s leading small cap publication

Founded seven years ago, is Australia’s leading and longest standing website for investor and finance news, education and expert opinion.

Published by StocksDigital, Finfeed was created to report daily on the comings and goings of ASX listed stocks in the small cap market.

As the first digital publication dedicated specifically to this space, Finfeed soon became the most trusted publication in the market, quickly garnering over two million page views – a number that continues to rise. provides its readers with informative articles that tackle the latest in market moving #ASX small cap news, plus exclusive content you won’t find anywhere else. It is aimed at those with an interest in investing, market education, company performance, start-ups and much more. is the only media organisation operating under the strength of a Financial Services License and is backed by leading journalists and analysts all with brands of their own.

The website aims to inform, educate and entertain with content that drills down into the heart of financial matters.

Finfeed is a leading source of investor and market information, with everything investors need to know about how to invest written in a way that anyone can understand. 

Over the years, the website has expanded beyond exclusively reporting on small caps, to profile Australia’s leading ASX listed small, mid and large caps as well as some of the country’s most successful CEOs and business leaders to find out what makes them tick.

Every day you will find fresh content covering:

Fast Facts

Over 4,000 articles published

Over 2.3 Million Page Views and counting

Over 10,000 followers on social media

Subscriber list growing by 2% monthly

Thanks for subscribing!