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.
A recent scoping study on the Balama Central projectconsidered 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.source: miningweekly.com