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Black Rock Mining Ltd.
Summary
| Project: | Mahenge | |
|---|---|---|
| Deposit: | Cascades | |
| Location: | Tanzania | |
| Commodities: | Graphite | |
| Date: | 7/20/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 20-7-2017: Black Rock Mining Ltd. announces a Resource Estimation report for its Cascades deposit at the Mahenge project. Cascades Measured and Indicated Resources increased by 25%. Tanzanian graphite developer, Black Rock Mining Limited (ASX: BKT, “the C | |
| Resources: | (Resource, Total): 60.2Mt @ 8.1% TCG for 4.9Mt TCG contained at Cascades | |
| CP/QP: | [Resources]: L. Barnes, A. Platel (Trepanier Pty Ltd.;Platel Consulting Pty ltd.) | |
| ABSTRACT: | Tanzanian graphite developer, Black Rock Mining Limited (ASX: BKT, “the Company”), is pleased to announce an upgrade to the Cascades Deposit Mineral Resource utilising an additional 19 infill drill holes completed in late 2016. The Cascades Deposit forms part of the Company’s Mahenge Graphite Project. The Cascades Deposit Mineral Resource Estimate of 60.2M tonnes at 8.1% TGC expands the total Mahenge Project Mineral Resource Estimate to 211.9M tonnes at 7.8% TGC. Cascades contains a higher-grade zone from surface of 12.9Mt at 12.5% TGC that is likely to enhance mining grade in early years and deliver significantly lower operating costs. It is currently being integrated into the Mahenge PFS. Adding this highgrade portion to the Ulanzi high grade portion, the Mahenge Project now has 46.6m tonnes at 10.6% TGC. More significantly, Cascades contains substantially higher grade zones from surface than Ulanzi providing the potential to deliver higher grades to a mining operation. As a result, the Company is assessing the impact of Cascade’s higher grade feed with an expected increase in free dig depth and higher proportion of coarse flake. Interim CEO John de Vries commented: “The increase in the Cascade Mineral Resource Estimate is extremely exciting in terms of how it will benefit the Mahenge Graphite Project. Whilst the 14% increase of Cascades Mineral Resource is pleasing, we are most excited by the 25% increase of proportion of Measured and Indicated Resources. We believe this will directly assist in delivering industry leading low operating cash costs for a project that has already demonstrated its ability to deliver high purity product from conventional flotation circuit process. “We believe that we have the best graphite resource of any development stage project and look forward to incorporating this development into the soon to be released optimised PFS, that considers a third milling module.“ | |
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