Further Thick, High-Grade Graphite Intersections Received From Trenching at Ianapera Graphite Project

Transcription

1 21 March 2019 ASX Annuncement Further Thick, High-Grade Graphite Intersectins Received Frm Trenching at Ianapera Graphite Prject Further thick, high-grade assay results received frm the recently cmpleted Ianapera Graphite Prject trenching prgram include: 14.00% Ttal Graphitic Carbn (TGC) inc % (IPT026) 12.36% TGC inc % (IPT022) All current trenching results have nw been received A drill prgram fr 2019/20 is currently being reviewed. BlackEarth Minerals NL (ASX: BEM) ( BlackEarth, the Cmpany ) is pleased t prvide an update f the final assay results recently received frm the trenching prgram at the Ianapera Graphite Prject in Suthern Madagascar (Figure 1). The Cmpany is als pleased t annunce an Explratin Target fr the Ianapera Graphite Prject f 20 t 34Mt at 10-20%TGC. The Ianapera trenching prgram was cmpleted in mid-december 2018 with 29 trenches excavated fr 1,874.1 metres and 965 samples cllected fr analysis. The Ianapera Prject is lcated 75km Nrth f the Maniry Graphite Prject; and significantly within 10km f the Wrld Class Ml Graphite Depsit cntaining 6.13% TGC (NextSurce Materials Inc. (TSX: NEXT) as shwn in Figures 3 & 4). Ianapera Graphite Prject - Trenching Results All samples have nw been returned frm the Ianapera Graphite Prject Trenching Prgram. Multiple intersectins f high-grade mineralisatin were recently returned frm the suthern end f the cnductive trend. All significant results are reprted in Table 1 and depicted in Figure 1. Highlights include: 14.00% TGC inc % TGC (IPT026) 12.36% TGC inc % TGC (IPT022) These latest excellent results are in additin t the previusly annunced high-grade results: 10.36% TGC inc % (IPT009) 22.06% TGC inc % inc % (IPT007) 10.23% TGC (IPT016) (ASX: Substantial trench widths f greater than 22% TGC at Ianapera - 7 March 2019) (ASX: Further high-grade hits at Ianapera Graphite Prject 13 March 2019) The ptential f the Ianapera Graphite Prject s mineral system can be visualised in early-time (ch08) airbrne electr-magnetic imagery (Figure 1). A cntinuus 5km lng cnductive trend utlines the interpreted zne f mineralisatin. Within this extensive mineralised trend there are fur znes f higher cnductivity that are clearly visible. These have nw been prven t crrelate with znes f high-grade mineralisatin. These intense anmalies were targeted during this trenching prgram. Previus recnnaissance explratin undertaken by the BEM technical team has identified numerus hrizns f graphite mineralisatin and multiple high-grade rck-chips alng the whle cnductive trend.

2 Figure 1 Ianapera Graphite Prject 2018 Trenching Results VTEM Imagery (All relevant gephysics details and rck-chips assays are previusly reprted within cmpany prspectus)

3 Ianapera Graphite Prject - Explratin Target The estimatin has been undertaken by the extraplatin f the data recently cllected frm the trenching prgram, histrical mapping, VTEM flwn in 2008 surveying and numerus phases f rck chipping. The Cmpany has nw utilised these extensive, quality datasets t indicate the ptential f the mineralisatin at Ianapera. The Ianapera Graphite Prject can be briefly described as a series f parallel NNE trending graphite schists that vary in thickness between 2-50M that dip relatively steeply (60-70deg) t the NW. Significant mineralisatin has nw been cnsistently identified ver 5km in strike, the ftprint f which is utlined in VTEM/Cnductivity imagery (refer Figure 1). The Explratin Target fr the Ianapera Graphite Prject is utlined as fllws: % Ttal Graphitic Carbn (TGC). Cautinary Statement. The Explratin Targets reprted herein are nt JORC cmpliant Mineral Resurces. The ptential quantity and grade f the Explratin Targets are cnceptual in nature, there has been insufficient explratin t determine a Mineral Resurce and there is n certainty that further explratin wrk will result in the determinatin f a Mineral Resurce. Tw scenaris due t varying lens mrphlgy/shape have been prvided: Scenari Length (m) Depth (m) Width (m) SG Grade Ranges Ttal Tnnes Scenari 1 5, % 20,250,000 Scenari 2 5, % 33,750,000 Table 1 Ianapera Explratin Target The explratin team in cnjunctin with BEM management is currently reviewing an explratin prgram and, subject t available funds, anticipates that further explratin wrk, including drilling may be undertaken during 2019/20. The descriptin f the datasets, assumptins and methdlgies used t derive the Explratin Targets are prvided belw. Gelgical Mapping and Rck Chip Sampling Malagasy Minerals Limited cmpleted extensive prgrams f detailed gelgical mapping and assciated rck chip sampling in 2012 (Table 3). This wrk identified that the gelgy in the Ianapera area was up t 80% utcrpping and that the graphite mineralisatin was highly visual in nature. The graphite mineralisatin is hsted within a highly defrmed sequence f felsic gneissic rcks (ex-sediments). Multiple, large-scale graphite lenses were mapped in detail and representative rck chip samples were taken fr assay, including detailed traverse sampling. Available VTEM data was utilised t help map the graphite mineralisatin due t its highly cnductive nature. Trenching BlackEarth recently cmpleted a prgram f trenching in December 2018 (Table 2). The results demnstrated that trenching, cmbined with surface utcrp mapping, can cnfidently utline the lens mrphlgy and prvide a reasnable estimatin f grade t be expected. Gephysics A VTEM survey flwn by Malagasy Minerals in 2008 was utilised as an additinal mapping tl t help define the distributin f graphite mineralisatin accumulatins. This data can be matched t the mapped graphite mineralisatin and as such is cnsidered a reasnable prxy fr graphite mineralisatin distributin. Highly cnductive znes are likely t represent high-grade graphite mineralisatin. Estimatin Assumptins The fllwing assumptins were applied t estimating the Explratin Target: The mapped and sampled area f graphite mineralisatin prvided the aerial extent f the mineralisatin. Depth extensins were based n field bservatins f relative dips in the graphite mineralisatin. A depth f 60 metres was utilised as a cnservative depth cut-ff.

4 Specific gravity was based n real data taken frm the Razafy resurce estimate, which is cnsidered adequate due t the similar type f mineralisatin and hst lithlgies. Grade was based n mapping bservatins, rck chip sampling and trenching t ascertain an verall average grade. Applied Estimate Methdlgies The fllwing assumptins were applied t estimating the Explratin Target: A vlume was calculated by applying a depth extent f 60m. The length f the Cnductive Trend is 5,000m The average cmbined thickness f mineralisatin identified by mapping and trenching is between 30-50m Tnnes were calculated by applying an average specific gravity f 2.25 as per the detailed wrk cmpleted as part f the Razafy resurce estimate. Grade ranges were created estimated average grade f all available assay data - trenching and rck chip sampling and mapping bservatins. Figure 2 Ampanihy Reginal Gelgy and Graphite Prjects

5 Key Annuncements relating t Explratin Target: 13 March 2019 Further High-Grade Hits at Ianapera Graphite Prject 7 March 2019 Substantial Trench Widths f Greater Than 22% TGC at Ianapera 13 September 2018 Phase tw prgrams set t cmmence at Maniry and Ianapera 14 August 2018 Update Maniry Explratin Target 14 August 2018 Update Razafy Resurce Estimatin f 7.1% TGC 16 January 2018 Prspectus The Ml Graphite Depsit The Ianapera Graphite Prject is lcated within 10km f the Ml Graphite Depsit (Figures 2 & 3) which has a NI cmpliant ttal cmbined graphite resurce f 6.13% TGC (NextSurce Materials Inc. (TSX: NEXT)). This prject is cnsidered ne f the largest, high quality flake graphite depsits in the wrld. The Ml Prject tk a huge step twards prductin earlier this year with the granting f a frty-year Mining Permit allwing NextSurce t mve tward financing and building the prject. The granting f this Mining Permit is als a highly significant signal frm the newly elected Madagascan Gvernment, shwing their desire t engage with verseas resurce cmpanies and t cntinue t prmte Madagascar as a mining friendly jurisdictin. Over the past 6 years, bth NextSurce and BlackEarth have identified a number f mineral resurces and advanced prspects thrughut the Ampanihy regin, which suggest that this regin has the ptential t hst multiple large, quality and high-grade graphite depsits (Figures 3 & 4). Figure 3 Ianapera Graphite Prject Interpreted Figure 4 Ampanihy Prject and Ml Prjects..Gelgy and Mineralisatin VTEM Imagery CONTACTS Tm Revy BlackEarth Minerals NL Jane Mrgan Investr and Media Relatins BlackEarth encurages investrs t update their cntact details t stay up t date with Cmpany news and annuncements here:

6 Table 2 Ianapera Trenching All Significant Results Trench_ID Easting Nrthing RL Length (m) Azi (deg) Frm (m) T (m) Inteval (m) TGC (%) IPT IPT IPT IPT IPT IPT IPT inc (inc.) IPT IPT inc inc and IPT IPT IPT IPT IPT IPT IPT IPT IPT IPT IPT IPT IPT inc IPT IPT IPT inc inc IPT inc inc IPT IPT IPT Reprting cut-ff 7, 10, 15, 20, 30 & 40% TGC Crdinates WGS84 Z38S

7 Table 3 Ianapera Rckchips Sample N Easting Nrthing TGC % MD MD MD MD MD MD MD MD MD MD MD MD MD MD MD MD MD MD MD MD MD MD MD MD MD MD MD MD MD MD MD MD MD MD MD MD MD MD MD MD MD MD MD MD MD MD MD

8 Cmpetent Persn s Statement The infrmatin cntained in this reprt that relates t the Explratin Target (and new Explratin Results relevant t it) at the Ianapera Graphite Prject is based n infrmatin cmpiled by Mr. Peter Langwrthy, a member f The Australasian Institute f Mining and Metallurgy. Mr. Langwrthy is an emplyee f OmniGeX Pty Ltd which is a cnsultant t BlackEarth. Mr. Langwrthy has sufficient experience that is relevant t the style f mineralizatin and type f depsit under cnsideratin and t the activity that he is undertaking t qualify as a Cmpetent Persn as defined in the 2012 editin f the Australasian Cde fr Reprting f Explratin Results, Mineral Resurces and Ore Reserves. Mr. Langwrthy cnsents t the inclusin in this reprt f the matters based n the infrmatin in the frm and cntext in which it appears. The infrmatin in this reprt that relates t previusly annunced Explratin Results relevant t the Explratin Target fr the Ianapera Graphite Prject is extracted frm the fllwing previus annuncements by the Cmpany: Prspectus released n 16 January 2018; annuncement titled Phase tw prgrams set t cmmence at Maniry and Ianapera released n 13 September 2018; annuncement titled Substantial Trench Widths f Greater Than 22% TGC at Ianapera released n 7 March 2019; and annuncement titled Further High-Grade Hits at Ianapera Graphite Prject released n 13 March The Cmpany cnfirms that it is nt aware f any new infrmatin r data that materially affects the infrmatin included in these previus market annuncements and that all material assumptins and technical parameters underpinning the estimates in the market annuncements cntinue t apply and have nt materially changed. The Cmpany cnfirms that the frm and cntext in which the Cmpetent Persn s findings are presented have nt been materially mdified frm the riginal market annuncements. The infrmatin in this reprt that relates t the Explratin Target fr the Maniry Graphite Prject is extracted frm the reprt entitled Explratin Target Update dated 14 August 2018 and is available t view n the Cmpany s website ( The Cmpany cnfirms that it is nt aware f any new infrmatin r data that materially affects the infrmatin included in the riginal market annuncement and that all material assumptins and technical parameters underpinning the estimates in the relevant market annuncement cntinue t apply and have nt materially changed. The Cmpany cnfirms that the frm and cntext in which the Cmpetent Persn s findings are presented have nt been materially mdified frm the riginal market annuncement. The infrmatin in this reprt that relates t the Maiden Resurce Estimatin fr Razafy and Haja at the Maniry Graphite Prject is extracted frm the reprts entitled Update Maiden Resurce Estimatin fr Razafy at the Maniry Graphite Prject dated 14 August 2018 and Maiden Resurce Estimatin fr Haja dated 27 December 2018, bth reprts are available t view n the Cmpany s website ( The Cmpany cnfirms that it is nt aware f any new infrmatin r data that materially affects the infrmatin included in the riginal market annuncement and that all material assumptins and technical parameters underpinning the estimates in the relevant market annuncement cntinue t apply and have nt materially changed. The Cmpany cnfirms that the frm and cntext in which the Cmpetent Persn s findings are presented have nt been materially mdified frm the riginal market annuncement. Fr mre infrmatin

9 Abut BlackEarth Minerals NL ( ) BlackEarth Minerals NL (ASX: BEM) ( Cmpany ) is an ASX listed cmpany fcused primarily n the develpment f its 100% wned Madagascan Maniry and Ianapera graphite prjects The lcatin f the Cmpany s primary graphite prjects: Madagascar (Maniry & Ianapera - abve) The Cmpany cnfirms that it is nt aware f any new infrmatin r data that materially affects the infrmatin included in the riginal market annuncement fr the scping study results titled Psitive Scping Study Results fr the Maniry Graphite Prject released n 30 January 2019; and that all material assumptins and technical parameters underpinning the estimates f frecast financial infrmatin derived frm a prductin target as utlined belw cntinue t apply and have nt materially changed. Fr Maniry Explratin Target refer t ASX release 14 August 2018 Update Maniry explratin target

10 Table 4 (JORC) Sectin 1

11 Table 4 (JORC) Sectin 2