M a r k e t N e w s
Black Rock Mining Ltd's graphite resource swells to third largest
Posted on : Thursday, 6th October 2016
Black Rock Mining Ltd (ASX:BKT) has increased its total Mineral Resource by 24% to 162.5 million tonnes at 7.8% total graphitic content through infill drilling within the Mahenge project in Tanzania.
Infill drilling targeted the Ulanzi deposit, which has resulted in a 39% resource upgrade to Ulanzi.
Mahenge, which hosts the Ulanzi, Epanko and Cascade deposits is now the world’s third largest JORC compliant graphite deposit.
A further resource upgrade for Cascades is expected in late 2016 and the pre-feasibility study is planned for release in November.
Stephen Copulos, chairman, commented: “The upgraded Mahenge resource is an excellent development for shareholders.
“This provides a higher level of resource confidence and development flexibility – with additional upside expected from Cascades.”
Background
Black Rock owns graphite tenure in the Mahenge region, Tanzania, a country that hosts world‐class graphite mineralisation.
The Mahenge project resource is comprised of three deposits – Ulanzi, Epanko and Cascade and is the third largest JORC graphite resource globally.
A positive scoping study in March 2016 led into the current pre-feasibility study which is expected to be released in November 2016.
The company intends to complete a definitive feasibility study by March 2017.
Source : www.proactiveinvestors.com.au
