Giant graphite find for Energizer
5th Jun 2012
June 5 – Canadian explorer Energizer Resources is targeting early 2015 production after retrieving wide intercepts of mineralisation from a new drilling program at the Green Giant graphite joint venture (Energizer 75%, Malagasy Minerals 25%) in Madagascar.
Assay results from the NI 43-101 graphite resource drill program on the Molo deposit are not due for six weeks, but Energizer confirms the Molo deposit begins at surface and extends to over 300m vertical depth. Drill hole MOLO-12-01 intersected 434m of graphite mineralisation.
The company says the results reinforce the selection of the Molo deposit for mine development, and the confirmation of mineralisation at surface should allow for cost-effective open pit mining.
Malagasy’s interest in the JV is free-carried until a bankable feasibility study. Malagasy also retains 100% interest in an inferred 110km strike of graphite-rich schist trends adjacent to Green Giant.
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