Malagasy Minerals said Energizer Resources, its Canadian joint venture (JV) partner in the company’s industrial minerals project in Madagascar, has reported strong graphite results from exploration activities.

Energizer said it was beginning to define a new graphite camp in southern Madagascar.

Energizer, which holds 75% of the JV with Malagasy holding the rest, said assays from the Molo zone at the prospect confirmed graphite mineralization at surface, and to a down hole depth of 108 metres at a grade of 8.80% carbon.

Energizer said the Molo Zone can be characterized as a multi-folded graphitic zone with a surface-exposed strike length of over 2km.

The prospect has been characterized by resistant ridges of graphite-rich rock, and abundant graphite-rich float with individual graphitic ridges between 20 and 150m in width.