Battery Minerals (ASX: BAT) has taken another key step in its strategy to establish the Balama Central Graphite Project in Mozambique as its second operation, with infill drilling now underway as part of a Definitive Feasibility Study (DFS)
The Balama drilling programme will comprise approximately 1000m of core drilling focused on the Lennox and Byron deposits.
Location plan of Lennox and Bryon deposits with drill hole location and resource categories.
Battery Minerals Executive Chairman David Flanagan said the Balama programme will take place at the same time as Battery Minerals undertakes infill grade control drilling at its flagship Montepuez graphite project in Mozambique.
Construction at Montepuez is scheduled to start early next year with first production earmarked for the December quarter, 2018.
Every round of results we receive, whether it be drilling, metallurgy or economic studies, provides more strong evidence that our plan to develop a pipeline of graphite projects is progressing well, Mr Flanagan said.
“This will position us ideally to capitalise on the booming lithium battery market and growing demand from other industries.”
Battery Minerals has previously announced a Mineral Resource at Balama of 16.3Mt at 10.4% TGC for 1.7Mt of contained graphite made up of:
- Indicated Mineral Resource: 8.9Mt at 9.3% TGC
- Inferred Mineral Resource: 7.4Mt at 11.8% TGC
The company has set an Exploration Target at Balama of 43Mt to 78Mt at 9% to 13% TGC.