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Black Rock Mining Sharpens Outlook For Tanzanian Graphite

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 (NYSEMKT: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.

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