Graphite ore samples from the Energizer Resources Inc. (TSX:EGZ,OTCBB:ENZR,FWB:YE5) Fotsy and Molo zones at its Green Giant Project in Madagascar yielded flake sizes of +50 mesh and graphite concentrates at purities of +90%. Energizer also announced that a private placement transaction for 2,540,000 common shares of Energizer for gross proceeds of $635,000 USD has been concluded with DRA Africa Pty Limited, a wholly owned subsidiary of DRA Mineral Projects, a technical partner of Energizer.
As quoted in the press release:
Graphite ore samples from the Fotsy and Molo zones were submitted to the North Carolina State University (NCSU) Minerals Research Laboratory in Asheville, North Carolina for preliminary evaluations to define potential for recovery of commercial products. Simple mechanical crushing with no flotation yielded flake sizes of +50 mesh, which according to Tom Burkett, Vice President of Graphite Materials & Systems at SGL Carbon Group – the world’s largest carbon company – is regarded by the industry as jumbo flake. Both ores have produced graphite concentrates at purities of +90%.
Both samples were subjected to beneficiation that included crushing, grinding, and various flotation schemes. A +50-mesh grind was utilized for the majority of the testing to achieve a high degree of liberation while maintaining a particle size that would be attractive to the marketplace. This testing recovered graphite in the form of oversize products at +50 mesh and flotation concentrates.
Data is still being processed and an initial report will be forthcoming by the NCSU complete with conclusions, recommendations, flake distribution summary and a preliminary process flow sheet.
DRA Makes Initial Equity Investment in Energizer
DRA has subscribed for 2,540,000 common shares of Energizer for gross proceeds of $635,000 USD. This results in DRA having an equity position of 1.6%. Under the terms of the Memorandum of Understanding (“MOU”), DRA has the right to acquire up to a 5% equity position in Energizer. Future private placements will be done at market conditions. The transaction requires final regulatory approval and all securities issued in this matter are subject to applicable hold periods.
Energizer’s Senior Vice President of Exploration, Craig Scherba, P. Geol., said:
“We are very pleased with these initial results. With the confirmation of jumbo flake graphite and +90% purity, Energizer has now met two more thresholds and when combined with our exploration results to date, make our Green Giant project quite unique in the marketplace. We have multiple zones with mineralization at surface, high grades, wide intersections and strike lengths that can be measured in kilometers, not meters. We are outlining a graphite camp.”