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Metals Australia Ltd.
Summary
| Project: | Lac Rainy | |
|---|---|---|
| Deposit: | Lac Rainy | |
| Location: | Canada | |
| Commodities: | Graphite | |
| Date: | 10/1/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 1-10-2019: Metals Australia Ltd. announces an Exploration/Drilling Update report for its Lac Rainy deposit at the Lac Rainy project. Drilling results incl. 47.5m @ 16.21% Cg from 7.8m. Metals Australia Ltd (ASX: MLS) is pleased to announce that it has now | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Jean-Paul Barrette (Magnor Exploration Inc.) | |
| ABSTRACT: | Metals Australia Ltd (ASX: MLS) is pleased to announce that it has now received the results for the final diamond drill hole from the seventeen (17) hole diamond drilling program completed at the Company’s 100%-owned Lac Rainy Graphite Project, located in Quebec, Canada. The drilling program has been very successful, with each drill hole intersecting graphite mineralisation varying from mid-grade to very high-grade, with significant graphite mineralisation being encountered close to surface, suggesting a shallow mineralised ore body, which is moderate to highly dipping to the south-west. Significantly, thirteen (13) drill holes from the seventeen (17) hole drilling program, including the hole reported here, have ended in graphite mineralisation and remain open at depth. This shows that the graphite mineralisation at Lac Rainy could potentially be substantially increased in size by deeper drilling. As part of the next phase of exploration at Lac Rainy, the Company will be drilling beneath the existing zone of mineralisation, with additional holes planned along strike to the north-west and closerspaced holes. The Company will seek to advance the development of the Lac Rainy project as rapidly as possible, taking advantage of the current shift towards high-value graphite products, such as expandable graphite and thermal graphite applications. | |
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