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Metals Australia (ASX:MLS) rapidly advances its high-quality portfolio of advanced battery minerals and metals projects in Tier 1 mining jurisdictions of Western Australia and Canada. Comprised of two critical minerals projects in Quebec, Canada, the portfolio includes the Lac Rainy flake graphite project and the Corvette River lithium (and gold) project. The company also explores four other projects in Australia: Tennant Creek (copper-gold) in the Northern Territory and Warrambie (lithium, nickel-copper, gold), Murchison (gold) and Manindi (lithium, vanadium-titanium, zinc) – all in Western Australia.
Metals Australia is progressing with its flagship Lac Rainy flake graphite project in Quebec, Canada. Lac Rainy is well-positioned to supply high-quality graphite products, including battery-grade graphite to the North American market – including for lithium-ion and EV battery production. The company has planned a drilling program to test new high-grade zones identified from the sampling program, which will form the basis for upgrading the existing Lac Rainy mineral resource.
Location of Metals Australia’s projects in the Tier 1 Mining Jurisdictions in Quebec, Canada and Australia’s Western Australia and the Northern Territory.
The Lac Rainy graphite project in eastern Quebec, Canada has access to excellent infrastructure, including hydroelectric power facilities. The project hosts an existing JORC 2012 mineral resource of 13.3 million tons (Mt) @ 11.5 percent graphitic carbon, which was announced in 2020 and a scoping study was completed and reported on in early 2021.
Company Highlights
Metals Australia is rapidly advancing its flag ship Lac Rainy Graphite Project in Quebec, Canada. In addition, the company has a suite of high-quality exploration projects – including Lithium, Gold and Silver in Quebec, Canada and Lithium, Gold, Copper & Vanadium in Western Australia (WA) and the Northern Territory (NT).All projects are in Tier-1 mining jurisdictions (Canada and Australia) with world-class prospectivity and stable geo-politically.The company has six key exploration and development projects:two in Canada: the Lac Rainy high-grade flake graphite project and the Corvette River lithium and gold-silver-copper exploration project, and,four in Australia: Warrambie (lithium, nickel-copper, gold), Murchison (gold) and Manindi (lithium, vanadium-titanium, zinc-silver) in WA, and Tennant Creek (Warrego East copper-gold) in the NT.The focus is to rapidly advance its flagship Lac Rainy Graphite Project towards development. A drilling program is already contracted to substantially increase the existing JORC 2012 Mineral Resource of 13.3 Mt @ 11.5 percent graphitic carbon (Cg) and test the potential of the many other identified high-grade graphite trends.The 2020 Scoping Study on Lac Rainy based on the existing resource, representing only 1km of drilling out of the total 36kms of identified graphite trends, indicates a 14-year mine life with a production of 100,000 tons per annum and a pre-tax NPV @ 8 percent of US$123 million (~AUD$190 million).Furthermore, other projects in Canada including the Corvette River lithium and gold targets, and exploration in Australia at Manindi, Warrambie, Murchison and Warrego – are all seeing active progress.The company is well-funded to complete all its planned exploration and project studies. The cash position at the end of Q1 2024 was AU$17.86 million.Metals Australia is led by a seasoned board and management team possessing extensive mining sector experience and a proven track record of successful discoveries and project developments. With funding in place, the company is well-positioned to capitalise on growth prospects.
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