BlackEarth flags Maniry resource upgrade ahead of DFS release

BlackEarth is likely to add further resources at its Maniry project in Madagascar after drilling verified continuity of graphite mineralisation along strike at Razafy NorthWest.

The 2022 infill diamond drilling program, which also successfully explored for depth extensions, is expected to add further medium to high-grade material to the inventory resource.

The 28 hole program had followed the Razafy NW resource estimate in 2021 that was based on 21 diamond drill holes.

Maniry currently has a total Resource of around 23 million tonnes grading just shy of 7% total graphitic carbon, or 1.6 million tonnes of contained graphite.

Updates to the resource will be included in BlackEarth Minerals’ (ASX:BEM) imminent Definitive Feasibility Study.

Continuity of graphite mineralisation

“We are particularly pleased that the drilling has largely confirmed the continuity of graphite mineralisation along strike and at depth and we look forward to seeing the assay results shortly,” managing director Tom Revy said.

“Every new tonne of high grade material we add to our Mineral Inventory from Razafy NW has the potential to increase project value for our shareholders and we look forward to informing the market about this in our soon to be published DFS.”

Graphite mineralisation is hosted with graphite schists that strike approximately northwest and dip at about 30-40 degrees to the northeast.

Assay results are expected to be received in the coming weeks.

BlackEarth also expects to start surface trenching shortly on the western end of drill lines.

This article was developed in collaboration with BlackEarth Minerals, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.