PERTH (miningweekly.com) – ASX-listed junior Metals of Africa has defined a maiden mineral resource of 16.3-million tonnes at its Balama Central project, in Mozambique.
Grading 10.4% total graphitic carbon and 0.21% vanadium oxide, the project is estimated to contain about 1.7-million tonnes of graphite and 34 000 t of vanadium oxide.
“Based on a modest but effective four week drilling programme that was completed using only one drill rig, we have achieved our objective of delineating an attractive high-grade mineral resource capable of allowing us to progress to a prefeasibility study (PFS) based on a mine life of at least ten years,” said Metals of Africa MD Cherie Leeden on Monday.
Leeden added that the flake size and quality at the Balama Central and Montepuez deposits boasted the "best ratio of large and jumbo flake of all graphite deposits in Mozambique", with the product retailing at a premium and giving Metals of Africa optionality with respect to several end-users.
A concept study for the Balama Central project would be completed within the next two weeks, after which the company would focus on the completion of a PFS.