TSX-listed Malagasy Minerals’ joint venture (JV) partner, Energizer Resources, has reported positive results from 2011 fourth-quarter drilling at the flagship Molo graphite prospect, in Madagascar and, as a result, will be progressing the project into the mine development phase.
Energizer announced to the Toronto Stock Exchange last week that receipt of the remaining phase of drilling results from November 2011, at Molo, had intersected graphite mineralisation with composite grades of between 7.3% carbon (C) and 11.17% C.
The company advances that the assays support the companysilica sand price uk’s intention to delineate a formal resource estimate for Molo and, as a result, it has selected the deposit to be brought to mine development.
Energizer is the operator of the Madagascar-based JV, holding a 75% stake, with Malagasy owning the remaining 25% as well as 7.5-million Energizer shares worthmobile stone crushers price south africa C$2-million. Malagasy’s interest is free- carried until the completion of a bankable feasibility study.
The results reported by Energizer include a drill hole from the central core of the Molo deposit, which intersects 106 m of graphite mineralisation at 8.44% C. <br clecement plant equipment manufacturersar=“all“/>Further drilling intersects 27 m of graphite mineralisation at 7.25% C, and is drilled into an exposed graphitic ridge 1 km to the west of, and parallel to, the Molo deposit.
“The latest assay results confirm that this surficially exposed graphitic ridge, which extends for a minimum of 12 km in strike length, stretches to a vertical depth of at least 108 m,” says Energizer senior VP of exploration Craig Scherba.
Mine Development
He adds that the company intends to expedite the mine development process, and is targeting 2014/15 for production.
Energizer’s evaluation includes metallurgical analysis, which confirms that jumbo flake graphite at an average purity of 93% C can be easily liberated through crushing of the Molo graphite.
Jumbo flake is considered among the most valuable graphites owing to its use in industrial applications such as batteries for electric cars and, as a result, attracts a premium price.
The resource drill programme at Molo has started, with the company targeting a resource of between 50-million tons and 100-million tons, with a grade range of between 6% and 10% C.
“A key characteristic of the Molo deposit is that the graphite is immediately at surface, which will allow for very cost-effective openpit mining. “In addition to having the significant surficial expres- sion of graphite, Molo is also located in an area with an ideal geographical setting as well as ideal terrain,” explains Scherba.