Tom Revy

A new pure play graphite company, BlackEarth Minerals, is set to join the ASX just days before Christmas after reaching its minimum subscription of $4.5 million. The company is a spin-off from Lithium Australia, who received a strong response from shareholders to a priority entitlement offer. The float has been helped along by high quality projects in Madagascar and a rally in graphite prices.

Australia’s newest graphite pure play BlackEarth Minerals is set to launch an aggressive drill program at its flagship Maniry project in Madagascar after successfully listing on the ASX. The company will begin a 10,800-metre diamond and RC drill program next month with the aim of publishing a maiden JORC resource by mid-year and a scoping study within 12 months of listing.

BlackEarth Minerals is throwing plenty of expertise at its advanced graphite exploration project in Madagascar, making two key appointments ahead of next month’s commencement of a major drilling operations. The newly listed company has secured an exploration services company with deep experience in Madagascan graphite and a geology manager with a solid graphite CV.

Newly listed BlackEarth Minerals has received a glowing report on the size and quality of graphite at its flagship Maniry project in southern Madagascar, finding plenty of high-purity, jumbo sized flakes that attract premium prices. The report highlighted the Razafy prospect, where BlackEarth is poised to launch a 10,800-metre drill program to establish a maiden JORC resource by mid-year.

BlackEarth Minerals is setting a cracking pace at its flagship Maniry graphite project in Madagascar, with two drill rigs arriving this week, just a month after the company listed on the ASX. The rigs will drill 10,800 metres of diamond and RC holes at the advanced exploration project, with results channelled into a maiden JORC resource by the middle of the year.

Newly listed BlackEarth Minerals continues to set a cracking pace at its Maniry graphite project in Madagascar, with 15 diamond holes already drilled that will assist the Perth company to churn out a maiden resource by the middle of the year. Early results have been very encouraging, showing thick and highly consistent graphite beds that will allow wider-spaced drilling than previously planned.

BlackEarth Minerals is nearing completion of its maiden drill program at the Maniry project in Madagascar and will report a JORC-compliant resource by the end of June. The program has outlined two continuous graphitic lenses 900 metres long and up to 50m thick from surface. The company is undertaking comprehensive mineralogical and metallurgical test work programs to determine the quality of its defined graphite product.

BlackEarth has reported very encouraging graphite assays from its maiden drill program at the Maniry project in Madagascar. Results up to 36.7m @ 8.8% total graphitic carbon from the Razafy prospect attest to the high grade nature of the ore deposit. The program outlined continuous graphitic lenses 900 metres long and up to 50m thick from surface. Testing is underway to determine the quality of the product.

BlackEarth Minerals’ resource drilling program in Madagascar has produced another series of impressive drill hits, adding to evidence of a large, high-grade graphite system at its Maniry project. Among the best of the new results was 26m @7.8% total graphitic carbon, including 10m @ 10.45% TGC. BlackEarth is on track for a maiden JORC estimate in July, just six months after listing on the ASX.

BlackEarth Minerals is expanding its resource drilling program at the Razafy prospect of its 100%-owned Maniry graphite project in Madagascar after rock chip samples of up to 20% TGC confirmed a strike extension to the northeast. Rock chip samples of up to 11.9% TGC have also added a further priority target for immediate exploration drilling at the Razafy East prospect.

BlackEarth Minerals has reported outstanding mineralogical results for its Razafy graphite prospect in southern Madagascar, with a significant proportion of the samples being classified as “super jumbo” flake, which currently attract premium prices of nearly A$3,600 per tonne. The company also said that drilling at the Haja prospect, 2km south of Razafy, has intersected wide zones of graphitic schist, enhancing the Maniry project’s prospectivity.

BlackEarth Minerals has reported consistently high grade assays and wide ore thicknesses from a resource definition drilling program at its Razafy graphite prospect in southern Madagascar. Results of up to 42m @ 7.1% total graphitic carbon from 4m down-hole, included 7m @ 10.7% TGC from just 18m. Geological data and results are being collated ahead of a maiden resource estimate due in August.

BlackEarth Minerals has reported consistent high grade assays and wide ore thicknesses from a step out drilling campaign at its Razafy graphite prospect in southern Madagascar. Results of up to 35.7m @ 7.6% total graphitic carbon from 10.1m down-hole, included a 7m intersection @ 10.7% TGC from just 20m. Geological data and results are being collated ahead of a maiden resource estimate due in August.

BlackEarth Minerals has delivered a maiden resource estimate of 11.2 million tonnes grading 7.1% total graphitic carbon at its emerging Razafy graphite prospect in Madagascar. The recent work will form the backbone of the Maniry project scoping study which is scheduled for delivery in the last quarter of 2018. The company also issued a massive exploration target for Maniry, ranging from 260-380 million tonnes @ 6-8% TGC.

ASX listed BlackEarth Minerals has made an exceptional near-surface intercept of 81.8 metres grading 6.1% total graphitic carbon at the Haja prospect in southern Madagascar that raises the likelihood of a resource upgrade. Further assays from the 26 hole program are expected to be received soon and the company expects to release a maiden JORC-compliant resource estimate for Haja soon.

Having just banked a maiden resource estimate at its Razafy graphite project, BlackEarth Minerals has now commenced a regional exploration program at its Maniry and Ianapera projects in Madagascar. The company is planning close spaced trenching and sampling work to outline future high grade drilling targets and is now looking to also table its scoping study for Razafy and a resource estimate for the Haja prospect later in the year.

BlackEarth Minerals’ final assays from drilling at the Haja deposit in southern Madagascar continue to demonstrate very thick and consistent zones of graphite mineralisation. A maiden resource estimate is due to be released next month after the company hit a 90m intersection grading 5.7%TGC. BlackEarth is in the final stages of planning a trenching program expected to start later this month.

BlackEarth Minerals has identified new high grade target zones at its Maniry graphite project in southern Madagascar with rock chip sampling returned jaw dropping grades of up to 48% total graphitic carbon. These zones are located in the underexplored northwest corner of the project and will be tested during the trenching program that is due to start this month.

BlackEarth Minerals’ initial metallurgical test work has produced a high grade 96% TGC concentrate with large flake graphite making up more than 52% of its content from composite material obtained from the Razafy prospect. Test work is ongoing on both oxide and primary ore mineralisation from Razafy to establish a preliminary flow sheet design for the current scoping study.

BlackEarth Minerals has commenced a regional exploration program at its Maniry and Ianapera projects in Madagascar. The company is undertaking close spaced trenching and sampling work to determine future high grade drilling targets. The company will also table its scoping study for the Razafy project in December and is preparing a maiden mineral resource estimate for the Haja prospect located 2km south of Maniry project.

Graphite developer BlackEarth Minerals has generated a high grade 95% graphite concentrate product from its Razafy graphite deposit in southern Madagascar, with nearly 50% reporting above the premium large flake size. Results from the recent test work will be used to finalise the project’s processing flow sheet and ongoing scoping study, ahead of a BFS which is due to kick off in the first quarter of 2019.

BlackEarth Minerals has delivered a maiden resource estimate of 9 million tonnes grading 5.8% total graphitic carbon at its Haja graphite prospect in southern Madagascar. The new estimate complements the nearby Razafy graphite mineral resource of 11.2 million tonnes grading 7.1% TGC, which is presently undergoing an internal scoping study due for completion early next quarter.

BlackEarth Minerals has unveiled an attractive set of numbers including post tax NPV at a 10% discount of USD$78.4m and IRR of 35.4% as part of the scoping study for its Maniry graphite project in southern Madagascar just 12 months after listing on the ASX. Capital costs for the first phase development has been estimated at USD$41m with payback expected in just 2.7 years.

BlackEarth Minerals’ Maniry project in Madagascar has received a serious shot in the arm, with the company uncovering exceptionally wide, high grade graphite mineralisation over 56m grading 9.89% total graphitic carbon at its new Razafy NW prospect. The trench samples represent the true width of the mineralisation and may outline the potential for significant additional high-grade graphite resources to enhance the value of the project.

BlackEarth Minerals’ Maniry project in Madagascar now extends over 5km of strike, with the company locating wide, high grade graphite mineralisation over 52m grading 7.03% total graphitic carbon at its new Razafy SE prospect. The trench samples represent the true width of the mineralisation and may outline the potential for significant additional high-grade graphite resources to enhance the value of the project.

BlackEarth Minerals has received an outstanding set of high grade graphite assays from its maiden surface trenching program at the Ianapera project located in southern Madagascar. Best results included 18m grading 22.1% total graphitic carbon, which included 8m @ 32.7% TGC and an incredible 2m @ 46% TGC. The trench samples approximate the true width of the mineralisation and outline the potential for a significant resource tonnage.

BlackEarth Minerals has received another outstanding set of high grade graphite assays from its surface trenching program at the Ianapera project located in southern Madagascar. Best results included 14m grading 10.36% total graphitic carbon, which incorporated 2m @ 23.9% TGC and 2m @ 10.9% TGC. The trench samples approximate the true width of the mineralisation and outline the potential for a significant resource tonnage.

BlackEarth Minerals has engaged AustMin to provide consultancy services relating to offtake, funding, development and general collaboration in China for its flagship Maniry graphite project in Madagascar. AustMin founder Eileen Hao has provided consultancy services to graphite companies such as Syrah Resources and has also been instrumental in securing offtake agreements for several other Australian companies.

BlackEarth Minerals’ encouraging preliminary test work results have revealed that nearly half of the ore concentrate for its Maniry graphite project reports to the Super Jumbo, Jumbo and Large flake categories at high grades of 96% TGC. The results will now be used in offtake discussions and potential agreements and help broaden funding initiatives and product development for the project.

The Madagascan Government has offered to fast-track development of BlackEarth Minerals’ flagship Maniry graphite project, after a positive meeting with the country’s Minister of Mine and Strategic Resources. A German specialist industrial mineral testing outfit has also begun a program for evaluating the company’s ore concentrates for battery testing, while a Chinese institute has independently confirmed the premium quality of the project’s ores.

BlackEarth Minerals’ ongoing test work has confirmed that spherical graphite produced using concentrates from its flagship Maniry project in Madagascar, meets specifications required by lithium-ion anode manufacturers. Additionally, the test work by German testing outfit, Dorfner ANZAPLAN, has achieved production yields of up to 52%, well above the industry average of around 40%.

Independent testing has indicated that graphite concentrate from BlackEarth Minerals’ Maniry project in southern Madagascar, meets the purity specification required by lithium-ion battery anode material manufacturers. The company is continuing discussions for potential offtake agreements and has entered into several confidentiality agreements with interested parties.

BlackEarth Minerals will rely on Chinese metallurgical expertise to help it develop a processing flowsheet and finalise all engineering due diligence for its evolving Maniry graphite project in south western Madagascar. A two-stage test work program has been designed and will conclude the final stages of technological, economic and environmental due diligence for the Australian company, who is looking to establish a world-class graphite operation in Africa.