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Bass Metals Ltd.
Summary
| Project: | Graphmada | |
|---|---|---|
| Deposit: | Mahefedok | |
| Location: | Madagascar | |
| Commodities: | Graphite | |
| Date: | 4/12/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 12-4-2017: Bass Metals Ltd. announces an Exploration/Drilling Update report for its Mahefedok deposit at the Graphmada project. Drilling results incl. 24.4m @ 4.4% Fixed Carbon. Bass Metals Limited (ASX: “BSM”) (the “Company”) is delivering on its aims to | |
| Resources: | (Resource, I+I): 5.7Mt @ 4.1% grade at project total | |
| CP/QP: | [Overall Report]: Tim McManus (Internal) | |
| ABSTRACT: | Bass Metals Limited (ASX: “BSM”) (the “Company”) is delivering on its aims to materially expand resources at the Graphmada large to jumbo flake graphite mine, located in eastern Madagascar, while refurbishing the mine to deliver our goal of producing the highest quality concentrates using industry best practices. Highly encouraging preliminary results from the maiden drilling program identified significant intercepts of soft easily mineable saprolite mineralisation along the entire 2.8 km strike of the Mahefedok Deposit (Figures 1 & 3). All drill holes demonstrated graphite mineralisation and a large number of holes returned significant mineralised intercepts above recent trial mining head grades at Mahefedok. These successful interim drilling results at Mahefedok are an important step towards providing additional shallow, easily mineable long-term ore feed directly adjacent to the current processing facilities at Graphmada. The Company aims to estimate a Maiden JORC Resource4 for the Mahefedok deposit as part of its expansion plans for Graphmada. Resource estimation works are ongoing and are scheduled for completion this quarter. The Company then plans to undertake a detailed economic study on the expansion of Graphmada through the installation of a second processing plant. Bass Metals CEO, Mr Tim McManus: “The Company continues to deliver on its strategy of the optimisation and expansion of Graphmada in parallel with the material expansion of its resource inventory. We are extremely pleased that the maiden drilling program at Mahefedok has provided laterally extensive mineralisation with significant intercepts of large to jumbo flake in easily mineable saprolitic material that has the potential to provide long-term ore feed to the adjacent Graphmada mine. We maintain our primary focus of optimising the premium asset of Graphmada; a long term low cost mining operation of premium quality large flake graphite.” | |
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