BlackEarth Minerals NL (ASX: BEM) has received further outstanding assay results from its Razafy Northwest (NW) diamond drilling at its 100% owned Maniry Graphite Project in Southern Madagascar.
The assays received to date from Razafy NW, have confirmed the continuity not only of the graphite mineralisation at depth and along strike but also the high-grade nature of the Resource. As a result the Board believes it is advantageous to integrate the Razafy NW area into the DFS as “initial priority feed”.
Applications have been sent to the Madagascan Mining authorities to expand the current mining license (ML 5394) to include a broader area including the Razafy NW Resource.
The key benefits of this approach will be to:
• Position the Project to start up with higher-grade material
• Take advantage of the rising price of natural graphite concentrate and
• Provide potential project financiers an optimum payback period In order to integrate the Razafy NW material into the current DFS, the Study is now likely to be completed in October 2022.
Managing Director, Tom Revy, said as part of current Study activities, an updated Razafy Resource will be released to the market shortly.
“The current and expanding data base on the Razafy NW area has certainly surpassed our initial expectations; exploration activities are continuing in the area,” Mr Revy said.
“Our new approach to accelerate its development as part of the current DFS is a critical component towards ultimately achieving Project development finance.”
For further information please visit: https://www.blackearthminerals.com.au/