Balama Graphite Project, Mozambique
BALAMA GRAPHITE DETAILS
The Balama graphite deposit comprises a ridge and three small hills containing graphitic schists. Field reconnaissance has found extensive outcropping areas of high grade of graphite. The mapped strike distance of the graphitic schists is over 8km.
Preliminary thin section analysis indicates that a substantial amount of the Balama graphite is coarse flake, which attracts a sales premium in the worldwide market.
The Balama project has extensive vanadium anomalism. Limited geochemical sampling was conducted by a past explorer at the Balama project area, including rock chip, soil and stream sampling. 14 out of 15 samples were anomalous in vanadium with three samples returning ore grade vanadium results of 12,500ppm, 8,600ppm and 7,000ppm.
Initial conventional flotation test work on a 50kg bulk sample from the Balama project achieved a concentrate grade in excess of 95%C, with recovery of 87% attained. The bulk sample was partially weathered and not specifically targeted within known high grade areas, therefore improved results are anticipated in future testwork programs. The bulk sample assayed 11.2% organic carbon. The concentrate contained graphite flakes with an average size of 159 microns, with flakes up to 568 microns (medium to coarse flake graphite).
LOCATION AND INFRASTRUCTURE
Balama is a 106km2 granted prospecting licence located within the Cabo Delgado province in the district of Namuno in northern Mozambique. The project is approximately 265km by road west of the port town of Pemba. Pemba Port is a deep-water container port, and the third largest in Mozambique.
The Balama project site is accessible by a sealed, main road, running directly from the airport. This main road is located 1km from the project.
2012 EXPLORATION PROGRAM
A diamond drill rig and a reverse circulation (RC) rig have been secured for drilling to commence in the first week of April 2012. Syrah has contracted to drill at least 5,000m of diamond drilling and 10,000m of RC drilling, and expects to continue these programs until the start of the wet season in late November 2012. Syrah anticipates the release of an initial JORC compliant resource in the first quarter of 2013.