Energizer Resources has obtained further assay results from the National Instrument (NI) 43-101 graphite resource drilling campaign carried out recently at the Molo deposit. Currently, the company is strategically placed to define the potential size and borders of the deposit, including its tonnage and grade.
Reported trench and drill assays are represented as red lines and histograms
The Molo deposit lies in the Green Giant graphite project, and belongs to the joint venture (JV) property with Madagascar-based Malagasy Minerals. The company is the project operator as it possesses a 75% of ownership interest.
Energizer will obtain the essential information from the recent campaign in order to complete a NI 43-101 graphite resource report, which will form a part of the preliminary economic assessment (PEA) due during fourth quarter of 2012.
The PEA study is being prepared by DRA Mineral Projects, whereas the resource statement is being prepared by South Africa-based Caracle Creek International Consulting. The company completed 18 trenches over 2,100 m and 41 diamond holes over 8,450 m, during the campaign.
At present, Energizer has obtained assay results for the first 8 trenches out of 18 and for the initial 9 holes out of 41, which were completed during the resource delineation campaign. This assay data together with one trench and six diamond holes, completed during last year’s exploration, has validated the expansion of the Molo deposit. This deposit is occurring in a folded sequence for a strike of over 2 km.
The deposit is broad between 50 to 60 m in the north. The graphite deposit is narrowed down to a thickness of about 250 to 350 m, from this point. It finally divides into two 'arms' between respective thicknesses of 50 and 100 m.
Data obtained from trenching and drilling, along with geophysical surveying, prospecting and mapping, validates mineralized graphite at the surface and over a region of at least 250,000 sq. m. Drilling for more than 300 m has validated the mineralization depth. The company is outlining a deposit for more than 100 Mt at a grade over 6% carbon.