Ulanzi bigger than thought?
Black Rock Mining (ASX:BKT) thinks Ulanzi could return more graphite than previously modeled after its widest drill intercept to date at the prospect.
It told its shareholders yesterday that one of four diamond holes drilled as part of an infill program hit 123m of graphitic zone, with BKT confirming the possibility that Ulanzi could be bigger than previously thought on the back of the drill result.
“These encouraging results indicate that Ulanzi central has potential to deliver more tonnes than previously modeled,” it said.
As things stand, the project has a conceptual exploration target of between 41 million and 52 million tonnes at grades ranging at 9.36% to 10.42% total graphitic carbon.
The current infill program is being conducted to come up with a maiden JORC resource for the prospect, and while drilling is continuing the wide drill intercept is a good sign.
It says Ulanzi is a consistent graphite lode usually measuring more than 70m in true thickness, with zones of more than 100m thickness. Its previous exploration target took 70m thickness as the base case.
Along with the 123m intercept, one of the holes also hit a 105m interval, strengthening its thesis that mineralisation at Ulanzi may be thicker than previously estimated.
In other BKT news, a lab in Perth has received a 500kg bulk sample from Ulanzi North with an average feed grade of 29% total graphitic content.
The aim of the lab work will be to make a concentrate ready for analysis and marketing, and the first batch tests have reportedly indictaed relatively high purity from a simple flow sheet.
It also confirmed a drilling place at Bagamoyo will take place in December after it secured a rig for infill drilling.