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Bass Metals Ltd.
Summary
| Project: | Graphmada | |
|---|---|---|
| Deposit: | Mahefedok | |
| Location: | Madagascar | |
| Commodities: | Graphite | |
| Date: | 6/21/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 21-6-2017: Bass Metals Ltd. announces a Resource Estimation report for its Mahefedok deposit at the Graphmada project. Initial resource estimate for Mahefedok deposit at Graphmada Project. Bass Metals Limited (ASX: “BSM”) (the “Company”) has delivered on | |
| Resources: | (Resource, I+I): 3.5Mt @ 4.2% TCG for 146,200t Graphite contained at Mahefedok | |
| CP/QP: | [Resources]: Grant Louw, Andrew Scogings (CSA Global Pty Ltd.) | |
| ABSTRACT: | Bass Metals Limited (ASX: “BSM”) (the “Company”) has delivered on its strategy to materially expand resources at the Graphmada large flake graphite mine, located in eastern Madagascar. This is in parallel with refurbishing the mine to deliver Stage 1 of 6,000tpa of the highest quality graphite concentrates using industry best practices. This result for Mahefedok is an important step towards providing additional shallow, easily mineable long-term ore feed directly adjacent to the current processing facilities at Graphmada. The Mahefedok Deposit is also a significant part of the Stage 2 expansion plans for Graphmada, the installation of a second processing plant to reach 20,000tpa, which will see Bass as one of the largest producers of large flake graphite globally. The Company holds the Mahefedok Deposit via exploitation permit number 26670, which is 100% owned. The permit grants the exclusive right for 40 years to explore and mine graphitic resources. The Mahefedok Deposit contains flake graphite mineralized lenses within both the weathered profile (regolith host) and underlying crystalline graphitic gneisses (hard rock), broadly coinciding with negative ground self-potential (SP) anomalies. Trenching, pitting, diamond and auger drilling have intersected the mineralization, and a test pit has been mined over a portion of the mineralization in the north. The estimate was classified as both Indicated and Inferred on the basis of surface mapping, geophysical information, drill hole sample assay results, drill hole logging and assigned density values based on core sample measurements. | |
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