Black Rock Mining Sharpens Outlook For Tanzanian Graphite

Jan. 21, 2016 4:52 PM ET
Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Short Only

Contributor Since 2009

Proactiveinvestors is a leading multi-media news organisation, investor portal and events management business with offices in New York, Sydney, Toronto, Frankfurt and London. Proactiveinvestors operates five financial websites in four languages providing breaking news, comment and analysis on hundreds of listed companies across the globe daily. We are one of the fastest growing financial media portals in the world. The group also operates hugely successful “investor forums” where three or four companies present to an audience of high net sophisticated investors, fund managers, hedge funds, private client brokers and analysts. Ian Mclelland founded Proactiveinvestors in 2006 as a way to channel his own views on companies small and mid-cap public companies. What started as a hobby quickly turned into a full time job as the website's readership exploded. One2One forums were added later in 2006, and within two years the company had expanded its operations into Canada and Australia. In 2009 the company expanded into Germany and finally into the US in 2010. Proactiveinvestors is now one of the fastest growing global financial media organizations in the world receiving more than one million visitors per month, with investor forums held across the globe on a regular basis.

Black Rock Mining (ASX:BKT) has extended the resource potential of its Ulanzi graphite property in Tanzania with new drilling hitting grades as high as 14.7% total graphitic carbon (TGC).

the best intercepts from the 31-hole program marked 84 metres at 9.38% TGC (including 32 metres at 14.7% TGC) and 78 metres at 8.57% TGC (including 50 metres at 10.14% TGC).

A preliminary resource is expected by February for both Ulanzi and the Epanko North areas of the broader Mahenge project.

This will follow final drilling later this month aims to define high-grade surface mineralisation and develop a separate resource at the nearby Cascade prospect.

Black Rock is targeting 41 to 52 million tonnes at 9.36% to 10.42% TGC at Ulanzi.

Meanwhile, a metallurgical testwork program is progressing as planned with completion expected in February.

A Scoping Study has begun to provide initial economic parameters and guidance for process plant design.

A more detailed Pre-Feasibility Study is planned to develop from the Scoping Study findings.

Analysis

The latest drilling at Ulanzi has achieved Black Rock's aim of identifying additional high-grade (>10% TGC) zones at surface with potential for free digging to enhance project economics for the first 5 years of operation.

This bodes well for the upcoming resource update, Scoping Study metrics and subsequent feasibility work.

The ongoing metallurgical testwork is also an important development factor experiencing positive traction as it will allow marketing to proceed.

Results from this testwork next month along with the inventory update and scoping metrics represent a healthy string of newsflow which could translate into price catalysts for Black Rock in the near term.

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.