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Black Rock Mining Ltd.
Summary
| Project: | Mahenge | |
|---|---|---|
| Deposit: | Mahenge | |
| Location: | Tanzania | |
| Commodities: | Graphite | |
| Date: | 4/24/2017 | |
| Report Code: | JORC | |
| Report Type: | Pre-Feasibility Study | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 24-4-2017: Black Rock Mining Ltd. announces a Pre-Feasibility Study report for its Mahenge deposit at the Mahenge project. Initial ore reserve + PFS results incl. post-tax NPV(10%) of US$624M, IRR of 48.2%, LOM of 32yrs. Tanzanian graphite developer Black | |
| Resources: | (Reserve, Prob.): 48.3Mt @ 8.7% TGC at project | |
| CP/QP: | [Resources]: Lauritz Barnes, Aiden Platel, Steven Tambanis (Trepanier Pty Ltd.;Platel Consulting Pty ltd.;Internal) | |
| ABSTRACT: | Tanzanian graphite developer Black Rock Mining Limited (BKT: ASX) (“Black Rock” or “the Company”) is pleased to announce it has completed the Preliminary Feasibility Study (“PFS”) for its 100%-owned Mahenge Graphite Project (“the Project”), confirming its outstanding potential as a long life, low capex, high margin operation. The PFS is based on mining and milling 61.1 million tonnes of Resource and Reserve at an average grade of 8.9% TGC for a life of mine (LoM) production of 5.1 million tonnes of concentrate. The LoM strip ratio is exceptionally low, at 0.8:1, benefiting from an even distribution of mining material at high grades through both pits. Metallurgical test work indicates the concentrate will have commercially desirable product size, and purity attributes. The mine plan is also advantaged by bulking in all mineralisation above cut-off grade resulting in limited need for costly selective mining methods. The Ore Reserve is inclusive of the broader Mineral Resource Estimate (“MRE”) for the Mahenge Project, of 202.9 million tonnes at an average grade of 7.8% TGC. Black Rock’s Interim CEO and Executive Director, John de Vries commented: “The PFS builds on a compelling scoping study and reconfirms the Mahenge Graphite Project’s potential to be a globally significant graphite producer, with industry leading low capex, and sustained high margins. The mine metrics are driven by low strip ratios and high grade ore, that can be relatively simply converted into large high purity, premium flake concentrates. “Mahenge is financeable with a unique combination of ultra-low pre-preproduction capex, sustained bottom quartile operating costs and a premium high purity large flake product, that as an investment, is simply not available in any other projects”. | |
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