JOHANNESBURG (miningweekly.com) – ASX-listed BlackEarth is preparing to implement its drilling programme after listing on the Australian bourse on Friday following a $5.45-million initial public offering (IPO) raising.
The company is embarking on a 200-hole graphite drill programme at its Maniry graphite project, in Madagascar, in pursuit of a Joint Ore Reserve Committee resource by mid-2018 and to determine the potential magnitude of the project.
The drilling programme comprises 2 500 m of diamond drilling and 8 300 m of reverse circulation drilling.
The programme aims to define a near-surface, high-grade resource suitable for use in a scoping study that BlackEarth plans to start later this year.
Additional exploration activities will also be undertaken at the company’s second Madagascan graphite project, Ianapera, some 50 km north of Maniry.
“BlackEarth is keen to progress its development of the Maniry project in Madagascar by embarking on a systematic and detailed exploration programme. We also intend to undertake further mineralogical work which has already identified the potential for Maniry to produce a very coarse flake product,” said MD Tony Revy.
Following the successful IPO, 2018 would see the company implement its development strategy towards becoming a quality graphite producer, he concluded.