Summary

Mine Type	Open Pit
Study Completed	Feasibility
Stage	Permitting
Commodities	Graphite
Mining Method	Truck & Shovel / Loader
Project Timeline	...
Mine Life	...
Snapshot	World-class Mahenge Graphite Project hosts a multi-generational graphite resource and is one of the largest JORC-compliant flake graphite resources globally. The Mahenge process plants will be sequentially constructed in a modular format. Processing throughput will initially be 1 Mt/y when Module 1 Process Plant is commissioned, increase to 2 Mt/y in Module 2, 3 Mt/y in Module 3, and finally 4 Mt/y with Module 4. Black Rock completed a FEED process in September 2022, re-estimating the capital and operating costs for Mahenge as part of the eDFS Update. Black Rock has obtained all Environmental approvals, Mining Licences and its Resettlement Action Plan with clear title to the eDFS project area. As outlined in the March 2024 quarterly, pre-construction early works previously contemplated to be undertaken prior to Final Investment Decision (FID) are expected to commence at FID, increasing the time to first production to 24 months from FID.

Deposit type

• Metamorphic

Summary:

The Project is located within the rocks of the Proterozoic Mozambique Orogenic Belt that extends throughout eastern Africa. It consists of high-grade mid-crustal rocks with a Neoproterozoic metamorphic overprint. The Mozambique Belt is divided into the Western Granulite and the Eastern Granulite. The two granulites are separated by flat-lying thrust zones and younger sedimentary basins of the Karoo.

The belt has undergone granulite phase metamorphism that has been subsequently retrograded to upper amphibolite facies. Structurally, the Mahenge region has undergone intense deformation forming a tight poly-phase sequence of marble, mafic and felsic gneisses and graphitic schists as part of the km-scale Mahenge Synform. The Mineral Resources are located on the western flank of the synform where the bedding and foliation dip between 60° and 80° towards the east. The units typically strike to the north and rotate to the northeast as they wrap around the fold nose.

The deposit type is described as schist hosted flaky graphite. The mineralisation is hosted within upper amphibolite facies gneiss of the Mozambique Mobile Belt.

Over 95% of the exposures within the tenement comprise 3 main rock types that include alternating sequences of:
• Graphitic schist – feldspar and quartz rich varieties.
• Marble and, • Biotite and hornblende granulites.
• Less common rock types include quartzite.

Dimensions
The modelled mineralized zone for Ulanzi has dimensions of 2,500m (surface trace striking 020°) with four zones averaging in thickness of between 50-60m and ranging between 400m and 760m RL (AMSL).

The modelled mineralized zone for Epanko has dimensions of 1,025m (surface trace striking 000°) averaging in thickness of between 55-80m and ranging between 640m and 1,025m RL (AMSL).

The modelled mineralized zone for Cascade has dimensions of 900m (surface trace striking 020°) averaging in thickness 70m and ranging between 560m and 900m RL (AMSL).

Mining Methods

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Comminution

Crushers and Mills

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Processing

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Commodity Production

Operational metrics

Metrics
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Personnel

Job Title	Name	Profile	Ref. Date
.......................	.......................		Aug 8, 2024
.......................	.......................		Aug 22, 2024