From a geological perspective, graphite in madagascar is known to be found between a head grade varying from 3% up to 12% (even for the same deposit, grade may change from a location to another), however the average is generally 4%-5%. For Loharano, the average of the resource was 4% (at surface, no drilling was done). Lets hope for Mahefedok we have at least an average head grade of 5%.
Ann: Bass Metals Investor Presentation, page-25
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