Bass Metals Limited (ASX: BSM) has announced a highly encouraging update on its quest to significantly expanding its graphite resources to support large scale mining and processing.
The company reported that outstanding drill results were delivered from Mahela large flake graphite discovery in Madagascar. Key results include 5.9m @ 6.7% TGC; 5.7m @ 6.3% TGC; and 14.3m @ 5.0% TGC.
BSM announced that 113 diamond drill holes (2,001m) have been completed at Mahela.
Bass Metals said that all drill holes recording consistent large flake graphite mineralization, with over half of all holes drilled reporting significant grade intercepts of >4% TGC.
The company reported that graphite flakes of up to 7,000 microns in size were geologically logged, with the deposit remaining open in all directions and to depth, providing a sound basis to conduct further drilling and development in early 2020.
Bass Metals said that it aims to release a maiden Mineral Resource estimate for Mahela over the coming weeks.
The Mahela deposit is located approximately 3 kilomters to the south of the Company’s Graphmada graphite processing facility in Madagascar, East Africa. Mahela is 100% owned by Bass via exploitation permit number 26670.
Mahela contains at least 3 lenticular bodies of flake graphite within the weathered profile. The 3 parallel striking graphitic units strike approx. northwest-southeast and is open-ended into the north and south.
Diamond drilling at Mahela
The company had recently commenced a diamond drilling program at Mahela. The principal aim of the program was to provide data to support a maiden Mineral Resource estimate.
BSM reported that it has completed 113 diamond drill holes (2,001m) to an average depth of 42m without incident.
Bass Metals said that all drill holes recorded significant intercepts of large flake graphite mineralization hosted in low cost, easily mineable regolith, important for liberating large flake graphite.
The company said that over half of the holes drilled reported significant intercepts of >4% Total Graphitic Carbon (TGC).
BSM reported that Mahela appears to have a large proportion of its mineralization in the >180 microns category with graphite flakes of up to 7,000 microns in size having been geologically logged.
The company announced that significant drilling results include 5.9m @ 6.7% TGC; 5.7m @ 6.3% TGC; 13.9m @ 6.0% TGC; 8.6m @ 5.9% TGC; 9.9m @ 5.3% TGC; 8.6m @ 5.4% TGC; 16.5m @ 5.3% TGC; and 14.3m @ 5.0% TGC.
Further drilling in 2020
The company reported that the deposit remains open in all directions and to depth, providing a sound basis to conduct further drilling and development, which Bass intends to recommence in early 2020.
The company announced that further work will be in estimating flake size distribution and metallurgical testing.
BSM said that it is currently undertaking the maiden Mineral Resource estimate of Mahela which is expected to table over the coming weeks.
BSM’s CEO Tim McManus said: “Bass is firmly of the view the Graphmada asset is highly prospective for a much larger resource. Accordingly, we have prioritized increasing our resources as a core priority to match our plans for large scale mining, processing and downstream value added carbon product manufacture.
Mahela is proving to be an exciting discovery. It is already fully permitted for mining and we now need to complete resource estimation works and consider its strategic importance to our overall strategy.
Mahela has the potential to become our primary deposit, especially being a short distance away to existing infrastructure and operations. We are looking forward to releasing the maiden resource for Mahela over the coming weeks.”