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Mahenge Project

 

The Mahenge Project consists of three graphite mineralised structures located within Exploration permit PL7802/2012:

• Epanko North
• Ulanzi
• Cascades

The three prospects were drilled during 2015 with a maiden JORC resource of 131Mt@ 8.9% TGC announced in February 2016. Over 40% of resource tonnes in the Indicated Category and a higher grade portion of 37.6Mt @10.2% TGC.

Drilling in 2016 has led to a 24% overall increase in resource tonnes to 162.5Mt at 7.8% TGC, which now holds 12.7Mt of contained graphite. This extensive resource contains a high-grade portion of 38.7Mt @9.9% TGC, or 13.5Mt @10.7% TGC.

The key aspect of the resource is that it is the largest and highest grade resource in Tanzania, which offers the potential to achieve lower production costs through selective mining of high grade surface mineralisation. Grade does matter.

Current drilling at the Cascades zone is delivering the highest grade results seen to date at the project and is expected to deliver higher grade resources by the end of 2016. Higher grade mineralisation offers strong potential to further reduce operating costs.

Mahenge 1
Figure 1. BKT tenure showing mapped and interpreted graphitic lode structures in green

 

A final drill programme is currently underway with two drill rigs to:
• Increase drillhole density
• Define Measured and Indicated Resources
• Drill out the Cascade high grade structure to its south
• Follow up on several coarse high grade occurrences defined from the 2015 Drill programme

Mahenge 2

Figure 2. graphitic lodes within PL7802/2012 showing the Ulanzi, Cascade and Epanko North resources

 

Additional Areas
The Company holds three additional tenements at Mahenge and intends to progressively explore the 60 strike km of graphitic structures mapped in 2015. The Kituti structure is a priority target, having returned high grade surface and drill intercepts when explored in 2015.

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