Energizer Resources Upgrades Molo Graphite Resource to Measured Status and Increases Overall Size of Resource
Energizer Resources Inc. (TSX: EGZ) (OTCQX: ENZR) (WKN: A1CXW3) (“Energizer” or the “Company”) is pleased to announce that it has upgraded a portion of the National Instrument (NI) 43-101 mineral resource estimate for its Molo graphite deposit, located in southern Madagascar, to Measured status and has increased the overall size of the resource.
Energizer previously announced on December 3rd, 2012 a maiden NI 43-101 resource of 124.31 million tonnes (MT), consisting of an Indicated resource totalling 84.04 MT grading 6.36% carbon (C), and an Inferred resource totaling 40.34 MT grading 6.29% C above a 2% C cut-off grade. The Company recently completed an infill drilling campaign to upgrade a portion of the Molo deposit to Measured status as part of its Full Feasibility Study (FS), which is on track to be released in November of this year.
Overall Mineral Resource Estimate Increased
The new mineral resource for the Molo deposit consists of a Measured resource of 23.62 MT grading 6.32% C, an Indicated resource of 76.75 MT grading 6.25% C and an Inferred resource of 40.91 MT at 5.78% C, for a combined total of 141.28 MT at 6.13%C. A cut-off grade of 4%C was used for the “high grade” zones and 2%C for the “low grade” zones. Please note that while the ‘high’ grade resource occurs within the ‘low’ grade resource, each was estimated and reported separately. The resource remains open along strike and to depth. Table 1 below indicates the resource by classification.
|Classification||Material Type||Tonnes – T||Grade – C%||
Graphite – T
|Measured||“Low Grade”||13 048 373||4.64||
|Measured||“High Grade”||10 573 137||8.40||
|Total Measured||23 621 510||6.32||
1 492 916
|Indicated||“Low Grade”||39 539 403||4.73||
1 871 075
|Indicated||“High Grade”||37 206 550||7.86||
2 925 266
|Total Indicated||76 745 953||6.25||
4 796 341
|Measured + Indicated||“Low Grade”||52 587 776||4.71||
2 476 157
|Measured + Indicated||“High Grade”||47 779 687||7.98||
3 813 101
|Total Measure + Indicated||100 367 464||6.27||
6 289 257
|Inferred||“Low Grade”||24 233 267||4.46||
1 080 677
|Inferred||“High Grade”||16 681 453||7.70||
1 285 039
|Total Inferred||40 914 721||5.78||2 365 716|
|TOTAL||“Low Grade”||76 821 044||4.63||3 556 834|
|TOTAL||“High Grade”||64 461 141||7.91||5 098 140|
|Grand – Total||141 282 184||6.13||8 654 974|
The NI 43-101 mineral resource estimate was prepared by Desmond Subramani, Pr.Sci.Nat.(400184/06) and John Hancox, Pr.Sci.Nat.(400224/04), independent Qualified Persons with Caracle Creek International Consulting (Pty) Ltd (CCIC) of Johannesburg, South Africa. The Company’s Preliminary Economic Assessment (PEA) Study, entitled “Molo Graphite Project, Fotadrevo, Province of Toliara, Madagascar, Preliminary Economic Assessment Technical Report Update” dated April 12, 2013 will be updated to reflect the now upgraded and increased resource and available under the Company’s profile at www.sedar.com within 45 days of this release. CCIC has verified the information in this release.
The new Measured resource estimate is based on an additional 32 drill holes (totaling 2,063 metres) and 9 trenches (totaling 1,876 metres) drilled by Energizer, at an average spacing of 50 metres along strike and 50 metres along dip. The entire database now contains 80 drill holes (totaling 11,660 meters) and 35 trenches (totaling 8,492 meters).
About Energizer Resources
Energizer Resources is a mineral exploration and mine development company based in Toronto, Canada, that is developing its 100%-owned, flagship Molo Graphite Project in southern Madagascar.
The Molo Graphite Project is one of the largest known crystalline flake graphite deposits in the world. The Molo Project hosts a NI 43-101 compliant indicated mineral resource of 84.04 million tonnes grading 6.36%C and an inferred resource grading 6.29% C of crystalline flake graphite.
Energizer has initiated a Full Feasibility Study, with results to be released to the market by Q4 2014. Results of the Company’s recently completed pilot plant operation confirmed that 43.5% of the Molo deposit is classified as the premium-priced large and extra-large flake, with an average purity level in excess of 97%C achieved through standard flotation alone. The Company is targeting production in Q2/Q3 of 2016.
Energizer’s total land package in southern Madagascar encompasses approximately 320 kilometres (198 miles) of continuous graphitic trends, where all graphite mineralization is immediately at surface.
In addition to the Molo Graphite Project, Energizer has also identified through drilling, trenching and geological mapping at least six other zones that could be potential stand-alone graphite deposits.
For more information on the Molo Graphite Project, please refer to the Company’s technical report entitled “Molo Graphite Project, Fotadrevo, Province of Toliara, Madagascar, Preliminary Economic Assessment Technical Report Update” dated April 12, 2013 available under the Company’s profile at www.sedar.com for a discussion in respect of certain key assumptions, parameters and methods in respect to the mineral resource disclosure, or our visit our website at www.energizerresources.com.
Other than noted above, Mr. Craig Scherba, P.Geo., President and COO is the qualified person who reviewed and approved the technical information provided in this press release.
For more information on Energizer and its Molo Graphite Project, please contact:
Brent Nykoliation, Senior Vice President, Corporate Development, +1.416.364.4911
or Craig Scherba, President and COO, firstname.lastname@example.org