Battery Minerals Ltd. said March 29 that an updated estimate doubled the graphite resources hosted by its Balama Central property in Mozambique to 32.9 million tonnes at 10.2% total graphitic carbon, or TGC, for 3.4 million tonnes of contained graphite.
The company noted that the indicated portion of the resource nearly tripled, to 26.6 million tonnes at 10.3% TGC, with the indicated grade increasing from 9.3% in the previous estimate.
The updated estimate uses a cutoff of 6% TGC and incorporates data from infill drilling completed in late 2017.
"With the mining license now secured for our Montepuez project and the resource inventory for Balama increased to such a huge extent, our strategy to become a major graphite supplier to the battery industry is well on track," Battery Minerals Managing Director David Flanagan said.
A feasibility study on Balama Central is on track to be completed in August. A recent scoping study on the project defined a 10-year operation producing 55,000 tonnes of graphite flake concentrate per year, with CapEx pegged at US$50.1 million.
The company's Montepuez graphite project, also in Mozambique, is expected to be commissioned in November.