Black Rock Mining returns best ever graphite drill results from Cascade
Thursday, September 17, 2015 by Proactive Investors
proactiveinvestors.com.au
Black Rock Mining's ( ASX:BKT) drilling program has returned the best intersections to date from the Cascade prospect at the Mahenge project, Tanzania.
The latest drilling at the project’s Cascade prospect confirmed: 88 metres at 9.68% Total Graphitic Carbon (TGC), including 44 metres at 11.09% TGC.
A 60 metre sample in the same area returned 10% TGC, including 22 metres at 11.46% TGC.
New trench results have confirmed high-grade mineralisation at Cascade Southwest, with 60 metres grading 9.47% TGC.
A previous trench result 250 metres to the south of the recent drill holes returned a result of 98 metres at 10.3% TGC.
Cascade has the potential to be both larger in size and higher in grade than the Epanko North prospect, which inspired a 43% jump on Black Rock shares earlier this month when drilling returned thick intersections of graphite mineralisation.
Assays of up to 12.15% TGC at the Epanko North are expected to contribute to a maiden JORC resource on track to be delivered by the end of this year.
Core from the first diamond holes at the project’s Ulanzi prospect, meanwhile, have intersected more than 80 metres of graphitic mineralisation.
A follow-up drill program has been fast tracked to commence in early October 2015.
Jurisdictional advantages
Mahenge North is contiguous to Kibaran Resources’ ( ASX:KNL) 22.8 million tonne Epanko graphite project, with access to water and a power grid.
The project is situated only 350 kilometres by rail to Indian Ocean export facilities well positioned to access growing Asian graphite markets.
Infrastructure, a skilled local workforce and the community support of a major regional resources industry – which includes Africa’s third largest gold sector – is expected to underpin long-term development ambitions as a commercial resource is established.
World-leading resources already defined by regional neighbours Syrah Resources ( ASX:SYR) and Triton Minerals ( ASX:TON) have begun to define East Africa as an emerging global hub for graphite production and export.
Analysis
The latest drill results are materially important in that they infer the Cascade prospect is consistently enriched with high-grade graphite mineralisation and straightforward geometry.
Drilling at both the Ulanzi and Cascade prospects is expected to contribute significant resource tonnes to the Mahenge projects, which lie only 70 kilometres by road from a train line that runs to major port city of Dar es Salaam.
The two areas currently targeted by Black Rock drilling each have potential to deliver a standalone graphite resource as the dominant global supplier, China, continues to signal future declines in its supply rates to the growing power storage and electric vehicle markets.
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