DNI Metals Inc. (DNI:CSE; DMNKF:OTC) announced in a news release the results of the initial NI 43-101 mineral resource estimate for its Vohitsara graphite deposit in Madagascar, highlighting the grade exceeded its expectation.
The report, prepared by Micon International Ltd., is based on DNI's Main zone. It incorporates results of work done through Dec. 31, 2017, including four trenches, one road cut, 22 diamond drill holes and 38 reverse circulation drill holes, all over a small portion of the Main zone, specifically 750 meters in length.
The report outlined an Inferred mineral resource of 4 million tons of 5% graphitic carbon (GC) using a 3% cutoff grade base case.
"We had indicated to the markets that we would be happy with a 4% GC grade, since many of the deposits in our area of Madagascar range from 2–4.2% GC, but having a 5% GC grade in saprolitic, weathered host rock is above our expectations," CEO Dan Weir said in the release.
The resource remains open along the north-south strike length and downdip to the west.
Next for DNI, once it receives its expected environmental licenses, is constructing a pilot plant.
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