Metals Australia intersects graphite in every hole
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
Metals Australia Ltd (ASX:MLS) has provided a promising update on the progress achieved with its maiden diamond drilling program at the company’s 100%-owned Lac Rainy Graphite Project in Quebec, Canada.
The company has continued to intersect near surface multiple wide high-grade graphite flakes with graphite intersected in every drill hole.
Metals Australia has successfully completed a total of fourteen drill holes to date.
The three additional drill holes which have been completed recently, have focused on the central portion of the strike extension to the north-west of the high-grade Lac Carheil prospect.
To date, the drilling has tested a total of one kilometre of strike at Lac Rainy, and given that graphite has been intersected in each hole, MLS is confident there is continuity of mineralisation at depth for more than one kilometre along strike.
The image below illustrates the semi-massive graphite flakes mineralisation intersected in DDH LR19-12 which intersected a zone of graphite mineralisation over a width of 26.6 metres graphite mineralisation (apparent thickness) at a depth extending from 3 metres to 29.6 metres.
Aiming to join all three zones
The Lac Rainy Graphite Project covers an area of more than 4,600 hectares representing 88 mineral claims and is contiguous with Focus Graphite’s property to the south-west, which hosts the Lac Knife Graphite Deposit, containing a Measured and Indicated Resource of 9.6 million tonnes at 14.77% Cg (contained graphite) and an Inferred Resource of 3.1 million tonnes at 13.25% Cg at a 3.0% Cg cut-off.
With a view to uncovering another large resource, Metals Australia will continue its exploration program with additional drill holes being positioned in the Western Carheil Graphite Zone.
The Phase II diamond drilling program at Lac Rainy will expand on the Phase I diamond drilling campaign with holes planned in the Central Carheil Graphite Zone with the objective being to join all three zones together, while also focusing on the depth potential and further strike extensions.
The drilling continues to affirm management’s belief that Lac Rainy is host to a potentially world-class high-grade natural flake graphite deposit.
Upcoming catalysts include the results of assays that are currently being laboratory tested.
General Information Only
S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.
