|Energizer Resources Adds Molo Zone to Green Giant Project; Intersects 108m of Graphite in Drill Core Grading 8.80%C, Including 49 m of 10.09%C|
Energizer Resources Inc. (TSX: EGZ) (OTCBB: ENZR) (FWB: YE5) (“Energizer” or the “Company”) is pleased to announce assay results from the Molo zone on its Joint Venture (JV) property with Malagasy Minerals Limited (“Malagasy”) (ASX: MGY) in Madagascar. Assays received from the Molo zone confirm graphite mineralization at surface, and to a down hole depth of 108 metres at a grade of 8.80% carbon (C). Based on these results, the previously released assay results from the Fotsy and Fondrana zones, and the metallurgical confirmation of jumbo flake graphite with over 90% purity, the Company is beginning to define a new graphite camp in southern Madagascar.
The Molo Zone
The Molo Zone can be characterized as follows:
8.80%C over 108.0 Metres Intersected in Drill Core from the Molo Zone
The Company has received assay results from the first (MOLO-01) of the 6 diamond drill holes drilled over the Molo zone. This hole was collared into graphite mineralization, and was drilled in to the western arm of a fold which strikes for at least 2 kilometres. Graphite mineralization in MOLO-01 was intersected from surface to a down hole depth of 108 metres at a grade of 8.80%C, and included 49 m at 10.09%C and 23 m at 10.03%C. The table below summarizes the intersections.
Emergence of a Graphite Camp
The identification of 17 graphite trends, with a cumulative strike length in excess of 320 km, on the 100% owned Green Giant property and 75% owned Joint Venture properties, have validated the Company’s belief that the Green Giant Project has the potential to host a potential graphite camp, with multiple zones. Highlights from zones with analytical results are as follows:
Craig Scherba, Senior Vice President Exploration and Operations for Madagascar, P.Geol., is the qualified person for the technical information provided in this release.
About Energizer Resources
Energizer Resources Inc. is a mineral exploration and development company based in Toronto, Canada, which is developing its Green Giant Project located in Madagascar. The Green Giant hosts one of the largest known vanadium deposits and potentially one of the largest known graphite deposits.
The identification of 17 graphite trends, with a cumulative strike length in excess of 320 km, on the 100% owned Green Giant property and 75% owned Joint Venture (with Malagasy Minerals Limited (ASX: MGY) properties, have validated the Company’s belief that the Green Giant Project has the potential to host a potential graphite camp. Metallurgical results to date confirm jumbo flake (+50 mesh) with over 90% purity.
As graphite and vanadium are considered to be critical minerals, the Company will position itself to both strategic partners, and the financial markets, a dual offering of critical minerals from a single source for energy and storage, as well as steel and other innovations worthy of development.
In addition to the Toronto Stock Exchange (TSX: EGZ), the Company’s common shares trade on the U.S. Over-The-Counter Bulletin Board under the symbol, ENZR, and on the Frankfurt Exchange under the symbol, YE5.
For more information on graphite, graphene and vanadium, please visit our website at www.energizerresources.com, or contact:
Brent Nykoliation, Vice President of Business Development
Toll Free: 800.818.5442 or 416.364.4911
or Kirk McKinnon, Chairman and CEO
We seek Safe Harbour: This press release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from expectations and projections set out herein.