PERTH (miningweekly.com) – ASX-listed Battery Minerals has doubled the mineral resource estimate at its Balama graphite project, in Mozambique.
The company on Thursday reported that the mineral resource now stood at 32.9-million tons, at 10.2% total graphitic carbon, with 26.6-million tonnes, at a grade of 10.3% total graphitic carbon, of the resource classified as indicated.
The updated mineral resource estimate followed a 1 600 m diamond drilling campaign.
Battery Minerals MD David Flanagan told shareholders that the increase in the mineral resource estimate was an outstanding result.
“With the mining licence now secured for our Montepuez project and the resource inventory for Balama increased to such a huge extent, our strategy to become a major graphite supplier to the battery industry is well on track,” Flanagan said.
A recent scoping study on the Balama Central project considered a 55 000 t/y Stage 1 operation, increasing to 110 000 t/y during Stage 2. The project is currently undergoing a feasibility study.