Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Bass Metals has announced continued exploration success at its Graphmada graphite mine complex
  • Of the 3.5 megatons of resource discovered, Bass Metal’s recent assessment estimates Total Graphite Carbon levels are currently sitting at 4.2 per cent
  • Bass Metals’ CEO Tim McManus said the company would continue working towards developing its large scale mining projects following the positive results

Bass Metals has announced continued exploration success at its flagship Graphmada graphite mine complex.

The company has completed diamond drilling on 34 holes and reached depths of 33 metres. With over 1000 square kilometres explored so far, the program’s main focus was supporting the reclassification of over 3.5 megatons worth of existing resources. Of those 3.5 megatons, Bass Metals’ recent assessment estimates Total Graphite Carbon levels are currently sitting at 4.2 per cent.

Following the program, Bass Metals has renewed its commitment to expand the project throughout the 2020 financial year, positioning the company as a global player in the graphite flake concentrate industry.

Bass Metals’ CEO Tim McManus said the company would continue working towards developing its large scale mining projects following the positive results.

“To have again realized significant large flake graphite potential in direct
proximity to our fully developed infrastructure is an excellent result, and we
eagerly anticipate the findings from our more extensive drilling program at the
Mahela Deposit,” Tim stated.

Located in Madagascar, the Graphmada complex hosts four known graphite deposits. Bass has recently turned its focus to exploring the Mahefedok prospect after a trial drilling program showed further mineralisation exists near the deposit’s northern pit.

“Bass will continue to aggressively explore its permits within the region, to
continue to accelerate its growth in Mineral Resources to support large scale
operations and downstream integration,” he continued.

Full results from Bass’ exploration tests are expected in October, with the company acknowledging the potential to expand the current project area.

Bass Metals’ market capital is currently valued at A$22.48 million, with its share price holding steady at A$0.08.

BSM by the numbers
More From The Market Herald
Chalice Mining (ASX:CHN) - Managing Director, Alex Dorsch

" Chalice Mining (ASX:CHN) finds nickel-copper anomalism at Julimar

Chalice Mining (ASX:CHN) has identified extensive nickel-copper soil anomalism at its Julimar Project in Western Australia.
The Market Herald Video

" Talga (ASX:TLG) boosts Vittangi MRE by 54pc

Battery and advanced materials company Talga (ASX:TLG) has boosted the mineral resource estimate (MRE) by 54…
The Market Herald Video

" ChemX (ASX:CMX) strikes “outstanding” REEs from Eyre Peninsula tenements

ChemX Materials (ASX:CMX) has intersected "outstanding" rare earth elements (REE) at its Eyre Peninsula tenements in…

" Boral (ASX:BLD) and Calix (ASX:CXL) secure $30m funding for carbon abatement project

Boral and Calix have been awarded $30 million in government funding to develop a carbon abatement project.