Metals Australia Ltd (ASX:MLS) has announced a substantial increase in the graphite resource at its Lac Carheil high-grade flake-graphite project in Quebec, Canada. Metals Australia Ltd is focused on critical minerals and metals discovery with advanced exploration projects in Quebec, Western Australia, and the Northern Territory. The recent drilling program has added approximately 595% more graphitic carbon drill core intervals to the original mineral resource estimate (MRE).
The company reported that all assay results have been received from the completed drilling program, incorporating 9,538m of new drilling data into the project database. This includes finalised assays from 4,995m of new graphitic carbon drill core intervals, with over 52% of all meters drilled yielding graphite intervals. The newly identified southeast extension zone is proving to be of immense project significance, with thick, high-grade graphite intercepts confirmed throughout. This zone includes 2,777m of graphitic carbon intervals with a weighted mean grade of 12.4% Total Graphitic Carbon (TGC).
The original southeast pit resource has also been significantly upgraded, with 2,974m of additional drilling completed in this zone. This added 1,508m of new graphite intervals to existing data, with a weighted mean grade of 11.9% TGC. The 2025 drilling program has demonstrated continuity between the two existing resource zones, adding 710m of new graphitic carbon intervals with a weighted average graphite grade of 9.0% TGC. The company has appointed DRA America’s Inc. to complete mine planning.
According to Metals Australia CEO Paul Ferguson, the company continues to make excellent progress toward the publication of a revised Mineral Resource Estimate for the Lac Carheil Graphite Project. The Mineral Resource update remains on schedule for reporting this calendar quarter. DRA Americas Inc. mining and infrastructure teams will commence work once the resource model is finalised. The revised mine plan is expected to yield improvements in the project compared to previous work.
