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Black Rock Mining continues advancing Tanzanian graphite project to construction phase

Mahenge Graphite Project enhanced DFS released in July 2019;
Large-scale spheronising and purification trial completed in August 2019;
Equity placement to raise $3 million used to progress Mahenge financing activities; and
John De Vries promoted to managing director in September 2019

What does Black Rock do?
Black Rock Mining Ltd (ASX:BKT) specialises in exploration and development in Tanzania.

Its flagship Mahenge Graphite Project, spread across 324 square kilometres of exploration tenements in Tanzanias Ulanga district, has a mineral resource estimate of 212 million tonnes at 7.8% TGC inclusive of ore reserves of 70 million tonnes at 8.5% TGC.

These reserves support a mine life of up to 350,000 tonnes of graphite per annum for a reserve life of 16 years.

The company is led by managing director and CEO John de Vries, a mining engineer with more than 30 years experience in leading multi-disciplinary teams in the mining and support industries.

De Vries focus is on building sharehol..

  • Mahenge Graphite Project enhanced DFS released in July 2019;
  • Large-scale spheronising and purification trial completed in August 2019;
  • Equity placement to raise $3 million used to progress Mahenge financing activities; and
  • John De Vries promoted to managing director in September 2019

What does Black Rock do?

Black Rock Mining Ltd (ASX:BKT) specialises in exploration and development in Tanzania.

Its flagship Mahenge Graphite Project, spread across 324 square kilometres of exploration tenements in Tanzanias Ulanga district, has a mineral resource estimate of 212 million tonnes at 7.8% TGC inclusive of ore reserves of 70 million tonnes at 8.5% TGC.

These reserves support a mine life of up to 350,000 tonnes of graphite per annum for a reserve life of 16 years.

The company is led by managing director and CEO John de Vries, a mining engineer with more than 30 years experience in leading multi-disciplinary teams in the mining and support industries.

De Vries focus is on building shareholder value by delivering a mine that builds and supports the Tanzanian community.

Black Rock has secured the services of CPC Engineering and Yantai Jinyuan Group, a major Chinese mining machinery group, to design and build the process plant, both of whom have significant experience in graphite and Africa-specific skills.

In August 2019 the company raised $3 million in an oversubscribed placement of more than 42.8 million shares at 7 cents per share to professional and institutional investors.

Placement proceeds have been spent towards financing and final permitting activities to progress the Mahenge project to construction-readiness by support from debt advisors, Ironstone Capital (ICA).

During 2019 Black Rock completed a large-scale spheronising and purification trial using 400 kilograms of sub-80 mesh concentrate generated during the March 2019 pilot plant run.

The trial demonstrated a yield to a final product of 48% and 53% with a final purity of 99.98% total graphite content (TGC) using commercial-scale equipment in commercial processing conditions.

These outcomes substantially exceed Chinese industry benchmark yields of 35-45% and purity of 99.95% TGC while using standard equipment and techniques.

The trials were conducted at Inner Mongolia Ruisheng New Material Co Ltd (a commercial producer) and at Wuhan University of Technology (a Chinese research facility).

Using a commercial producer and a Chinese research facility ensured comparability between Western and Chinese laboratory results and confirmed the product would perform when scaled up in a commercial facility typical of Black Rocks potential customer base.

What does Black Rock own?

The key asset is the wholly-owned and licenced Mahenge Graphite Project which is 400 kilometres southwest of the countrys principal port at Dar es Salaam.

Mahenge is only 70 kilometres by road from a Tanzania Zambia Railway Authority rail network that runs direct to the port.

In July 2019, Black Rock enhanced the definitive feasibility study (DFS) which includes a fourth production module and a compressed development schedule that is now subject to financing and confirmation of the 16% Tanzanian government free carried interest.

The enhanced DFS was completed in response to product demand and feedback from customers as well as financial markets for a more aggressive production schedule and de-risked commissioning plan.

It includes the provision for a fourth production module of 85,000-tonne capacity, increasing eventual steady-state production to 340,000-350,000 tonnes of concentrate per annum.

The development schedule nowRead More – Source

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Australia

Meteoric Resources drilling intersects high-grade gold shoot below Juruena resource

Meteoric Resources NL (ASX:MEI) has intersected a high-grade gold shoot below the current Juruena resource as part of the companys maiden drilling program across its Brazilian portfolio.

Drill hole JUDD022 targeted the southern high‐grade gold shoot at the Dona Maria deposit intersecting 4.4 metres at 13.5 g/t gold from 300 metres including 2 metres at 27.3 g/t gold from 302 metres.

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Meteoric managing director Dr Andrew Tunks said: “This fantastic result from JUDD022 caps a remarkable maiden drilling campaign by Meteoric at Juruena which commenced with one of the best drill results in the World in 2019 of 20.6 metres at 94.9 g/t gold from 97 metres and was followed by some further stunning results during the campaign.

“To my mind, this final result is the best of the bunch as it confirms the high grade is open at depth, providing us with a host of immediate drill targets to substantially grow the Juruena resource.

“It really is only the beginning of the road fo..

Meteoric Resources NL (ASX:MEI) has intersected a high-grade gold shoot below the current Juruena resource as part of the companys maiden drilling program across its Brazilian portfolio.

Drill hole JUDD022 targeted the southern high‐grade gold shoot at the Dona Maria deposit intersecting 4.4 metres at 13.5 g/t gold from 300 metres including 2 metres at 27.3 g/t gold from 302 metres.

Meteoric managing director Dr Andrew Tunks said: “This fantastic result from JUDD022 caps a remarkable maiden drilling campaign by Meteoric at Juruena which commenced with one of the best drill results in the World in 2019 of 20.6 metres at 94.9 g/t gold from 97 metres and was followed by some further stunning results during the campaign.

“To my mind, this final result is the best of the bunch as it confirms the high grade is open at depth, providing us with a host of immediate drill targets to substantially grow the Juruena resource.

“It really is only the beginning of the road for Juruena and I cant wait to get the drill rigs turning again and see just how wide and deep the high grade mineralisation at Dona Maria extends.

“In technical terms, the results from JUDD022 confirm the interpreted continuity and steep southerly plunge of the southern high‐grade ore shoot at Dona Maria.

“JUDD022 intercepted the mineralised zone approximately 30 metres below the current Mineral Resource model and conclusively shows the mineralisation is still strong below that depth.

“We expect to commence drilling early in Q2, with the exact date dependent on the cessation of the current wet season.”

Juruena resource


The latest round of results highlights the confirmation of a high‐grade ore shoot at Dona Maria and the potential for Tomate to provide additional ounces to the Juruena resource which currently stands at 1.2 million tonnes at 6.3 g/t gold for 261,000 ounces.

MetRead More – Source

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Australia

Lake Resources to upsize share purchase plan following strong investor demand

Lake Resources NL (ASX:LKE) received a further boost for its growth plans with strong investor demand for its share purchase plan (SPP) and placement.

The companys $1.5 million SPP has been oversubscribed having secured some $2.1 million while a private placement to sophisticated and professional investors has raised a total of about $3.37.

Lake is now considering upsizing the SPP to accommodate the increased demand from shareholders, with such funding to help speed the companys development plans.

The strong investor support will facilitate the development of sustainable and scalable direct extraction technology at Lakes flagship Kachi Lithium Brine Project in Argentina.

The technology developed by Lakes partner, Lilac Solutions has received backing from a fund led by Bill Gates and other global business heavyweights and offers a potential sustainable solution for the lithium brines industry.

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Lake managing director Steve Promnitz said: “The strong investor su..

Lake Resources NL (ASX:LKE) received a further boost for its growth plans with strong investor demand for its share purchase plan (SPP) and placement.

The companys $1.5 million SPP has been oversubscribed having secured some $2.1 million while a private placement to sophisticated and professional investors has raised a total of about $3.37.

Lake is now considering upsizing the SPP to accommodate the increased demand from shareholders, with such funding to help speed the companys development plans.

The strong investor support will facilitate the development of sustainable and scalable direct extraction technology at Lakes flagship Kachi Lithium Brine Project in Argentina.

The technology developed by Lakes partner, Lilac Solutions has received backing from a fund led by Bill Gates and other global business heavyweights and offers a potential sustainable solution for the lithium brines industry.

Lake managing director Steve Promnitz said: “The strong investor support is extremely encouraging, particularly amid current market conditions, and I would like to sincerely thank both our new and existing investors for your commitment.

“Lake has some huge milestones Read More – Source

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Australia

Cardinal Resources receives water extraction permits for Namdini

Cardinal Resources Ltd (ASX:CDV) has been granted water extract permits for its Namdini Gold Project in Ghana, West Africa.

The permits allow Cardinal to extract raw water from:

The White Volta River for mining and processing purposes; and
Boreholes located within the Mining License area for mine construction and development purposes.

Cardinals chief operating officer Dave Anthony said: “These key permits will enable Cardinal to support the development and operation of the Namdini Gold Project.

“These permits allow for all year‐round water extraction from the White Volta River, as well as boreholes located on the project site.”

CEO and managing director Archie Koimtsidis added: “We are extremely grateful to the Water Resources Commission of Ghana and all involved for the approval of our Water Use Permits and ongoing water licences.

Namdini rapidly moving into development phase[hhmc]
“We are enthused with the granting of these critical permits as they are essential to the Namdini ..

Cardinal Resources Ltd (ASX:CDV) has been granted water extract permits for its Namdini Gold Project in Ghana, West Africa.

The permits allow Cardinal to extract raw water from:

  • The White Volta River for mining and processing purposes; and
  • Boreholes located within the Mining License area for mine construction and development purposes.

Cardinals chief operating officer Dave Anthony said: “These key permits will enable Cardinal to support the development and operation of the Namdini Gold Project.

“These permits allow for all year‐round water extraction from the White Volta River, as well as boreholes located on the project site.”

CEO and managing director Archie Koimtsidis added: “We are extremely grateful to the Water Resources Commission of Ghana and all involved for the approval of our Water Use Permits and ongoing water licences.

Namdini rapidly moving into development phase


“We are enthused with the granting of these critical permits as they are essential to the Namdini Project.

“With these approvals in place, there is clear demonstration of continued support for the project development from the Ghana Government.

“The Namdini Gold Project is rapidly and successfully moving into its development phase.”

Feasibility study based on US$1,350 per ounce gold


Notably, Namdinis feasibility study ascribed a post-tax net present value (NPV) of USD$590 million and an IRR of 33.2% for the proRead More – Source

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