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About 80% of the mine’s output will be +80 mesh large flake or better, the company stated. Approximately 50% will be extra-large (+50 mesh) and XXL (+32 mesh).
Although Bissett Creek certainly ranks among the graphite projects closest to production, it hasn’t met all its targets. The company had hoped to file feasibility and mine closure reports in May and begin production by December 2013. Under previous ownership, the project underwent feasibility in the 1980s.
On November 1 Energizer Resources released results from the last 23 holes and eight trenches of its Molo flake graphite deposit in Madagascar. The assays will be incorporated into an initial resource estimate expected by the end of November, which president/COO Craig Scherba said “looks to be the largest known graphite deposit in the world.” (If the boast sounds familiar, a few days earlier Mason Graphite TSXV:LLG corporate development officer Simon Marcotte made a similar remark to ResourceClips about his company’s Lac Guéret Project.)
Energizer‘s PEA is scheduled for year-end. The company plans pilot plant test work in South Africa to facilitate a feasibility study and provide samples for potential off-take agreements.
The latest drill assays show good grades over impressive intercepts down to a depth of 304 metres. Some examples include:
- 8.19% carbon over 246 metres
- 6.36% over 278 metres
- 5.71% over 304.5 metres
- 6.35% over 261 metres
- 7.02% over 219 metres
- 6.6% over 184.35 metres
- 7.89% over 128.4 metres
True widths were not provided.
Molo is part of Energizer’s Joint Venture Property, in which the company holds a 75% interest and acts as project operator. Malagasy Minerals Ltd holds the other 25%. The JV Property surrounds on three sides Energizer’s wholly-owned Green Giant Project, which was originally a vanadium project. A December 2011 graphite find prompted the company to change focus and negotiate the JV.
Like Northern, Energizer has missed some targets. The company had hoped to release its initial resource last summer and a PEA in September or October. The upcoming PEA will be conducted by DRA Mineral Projects, which last March picked up a 1.6% interest in Energizer and an option to acquire up to 5% in total.
Molo production is now targeted for 2015 for an open pit comprising three 50,000-tonne modules. The plan is to begin production at 50,000 tpa, with the ability to quickly expand up to 150,000 tonnes.
Energizer opened November 1 at $0.34 then dropped to $0.325, but closed the day on $0.35.
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