Energizer Resources (TSX:EGZ, StockForum), a Toronto-based mineral exploration and development firm engaged in the acquisition and exploration of mineral resources, released result highlights for its Molo flaked graphite project.
The pilot scale plant was meant to confirm the lab-generated metallurgical flowsheet's effectiveness under continuous pilot scale conditions, define design parameters for the current Molo Full Feasibility Study and create large concentrate samples for off-take partner.
According to the news release, the average grade of the extra-large flake (greater than +48 mesh) was 97.7% Ct with the average grade of the large flake (greater than +80 mesh) coming in at 97.4% Ct. Also, in +200 mesh fraction analysis of medium flake graphite, the average grade was 96.7% Ct with the majority of impurities appearing in the -400 mesh small flake fractions.
In the end, the average total carbon content of twelve pilot plant surveys was 93.7% Ct at an average carbon recovery of 90.3%.
Energizer CEO, Richard Schler, commented, “We are very pleased that the results of the pilot plant study confirms we have a high proportion of premium jumbo and large flake graphite in our Molo deposit.”
He went on, “It should also be noted that these particular flake size fractions achieved purities in excess of 97% C(t) by means of simple flotation. This potentially gives us a significant commercial advantage on two fronts 1) the jumbo and large flake products can be sold at a premium for the emerging graphite markets and 2) we should see cost advantages in producing the required purities as well as for upgrading to battery grade material.”
Then concluded,”Metallurgy results have already confirmed that 100% of the Molo graphite concentrate can be upgraded to greater than 99.9% purity.”
Energizer was in the news recently when the company closed a $7.3 million private placement in the middle of January.
Currently there are 264.9m outstanding shares with a market cap of $38.4 million.