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Metals Australia Ltd.
Summary
| Project: | Lac Rainy | |
|---|---|---|
| Deposit: | Lac Rainy | |
| Location: | Canada | |
| Commodities: | Graphite | |
| Date: | 8/20/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 20-8-2019: Metals Australia Ltd. announces an Exploration/Drilling Update report for its Lac Rainy deposit at the Lac Rainy project. Drilling results incl. 40.1m @ 16.28% Cg from 79.9m. Metals Australia Ltd (ASX: MLS) has now announced results for thirtee | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Jean-Paul Barrette (Magnor Exploration Inc.) | |
| ABSTRACT: | Metals Australia Ltd (ASX: MLS) has now announced results for thirteen (13) holes with the results of four (4) holes remaining outstanding from the seventeen (17) hole diamond drilling program completed at the Company’s 100%-owned Lac Rainy Graphite Project, located in Quebec, Canada. Every hole drilled has intersected graphite mineralisation varying from mid-grade to very high-grade. Many holes 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. The graphite mineralised strike length that has been mapped and sampled so far exceeds 3,200 meters in length. A further mapping and sampling program has recently been completed. The intention is to increase the graphite mineralised strike length beyond 3,200 meters. To date, only approximately 1,600 meters of this strike length has been drill tested by the current drilling program. Many holes ended in graphite mineralisation indicating that the graphite extends deeper than originally understood. This supports our belief that the size and scale of the potential Lac Rainy resource will be substantial. Once assays for all holes are received, the Company will commence metallurgical test work and will also commence the compilation of a JORC Compliant resource estimate. | |
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