Graphite developer Battery Minerals has reported a 14% increase in the mineral resource estimate of the Elephant deposit, at its Montepuez project, in Mozambique.
The project is now estimated to host a total measured and indicated resource of 76.9-million tonnes, at 7.3% total graphitic carbon.
“These results underpin our view that there is potential for substantial growth in the inventory, forecast production rates and mine life at Montepuez,” said Battery Minerals MD David Flanagan.
“We are confident that we will also continue to increase the run-of-mine grade, which would reduce costs and increase revenue due to the increased tonnage of concentrate we would produce.”
In addition to the resource upgrade, Battery Minerals has also identified the Warthog prospect some 1.5 km south of Elephant, and follow-up drilling has confirmed geological alterations continue down dip and along strike for more than 500 m.
Assay results from follow-up drilling at Warthog are pending.source:miningweekly.com