Lac Rainy Nord Graphite Project

HIGH GRADE MAIDEN JORC RESOURCE 

Metals Australia Ltd is pleased to announce the maiden JORC (2012) resource at its 100% owned Lac Rainy Graphite Project located in Quebec,Canada.

The Mineral Resource has been prepared in accordance with the Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves, (“JORC Code (2012)”) and is estimated at 13.3Mt at 11.5% TGC in the category of Indicated and Inferred for 1.529Mt of contained graphite, using a 5% TGC cut-off.

The mineral resource at Lac Rainy offers significant flexibility for potential development into a long life, high-grade graphite mining operation. Lac Rainy has the potential to be mined using open cut mining methods with low strip ratios, with more than 90% of the current global resource defined within the first 100m.

For a comprehensive report on this JORC Resource, refer to ASX Announcement dated 15 June 2020: Click Here

PROJECT OVERVIEW

The Lac Rainy project consists of a contiguous landholding of 92 mineral claims covering an area of approximately 45.5 km2 located 22 km south-west of the historic mining town of Fermont in one of the premier graphite mining regions of Quebec. The Lac Rainy Project is approximately 15 km east of Route 389, a paved highway that links the Project with major ports along the St. Lawrence River.

GEOLOGY AND MINERALISATION

Within the Lac Rainy Graphite Project, the graphite is hosted in biotite-quartz-feldspar paragneiss and schist of the Nault Formation. High-grade metamorphism and folding has resulted in the formation of important concentrations of graphite dominated by value-enhanced large flakes.

The Project is located adjacent to the Lac Knife Property, which hosts the Lac Knife Graphite Deposit owned by Focus Graphite Inc. (less than 4 km south-west of the Project) that has a Measured and Indicated Resource of 13.6 Mt @ 14.95% Cg and an Inferred Resource of 0.8 Mt @ 13.90% Cg at a 3.0% Cg cut-off (refer to Focus Graphite TSX-V market announcement dated 6 March 2017).

The high-grade Lac Carheil Prospect is located at the south-eastern corner of the Lac Rainy project area. The Carheil trend extends from south-east to north-west across the Lac Rainy Project tenement package. Graphite mineralisation has been mapped for 4.0km in a north-east direction. High-grade graphite samples at Lac Carheil include 35.49% Cg and 40.67% Cg (refer ASX announcement dated 30 May 2017 and titled “High Grade Graphite Confirmed at Lac Rainy Est”). The close proximity of numerous high-grade graphitic carbon results at nearby occurrences highlights the strong potential for further graphite mineralisation to be identified at the Lac Rainy Graphite Project.

FIELD EXPLORATION AND PROSPECTING PROGRAM

During the Quarter ended 31 March 2020, the Company announced the results of the prospecting program which was completed at the Lac Rainy Graphite Project. The prospecting program was carried out using the technical team and field geologists of Magnor Exploration Inc. (Magnor) and was considered highly successful in identifying and outlining additional zones of high-grade graphite mineralisation.

Together with Magnor, the Company has identified several new zones of graphite mineralisation, including a south-east and north-west extension of the high-grade Carheil Graphitic Trend where diamond drilling was previously undertaken (known as the Main Carheil Graphitic Trend).

Location of Graphitic Zones with drill holes and recent surface sampling

The strike length of the south-east extension is 750m while the strike length of the north-west extension is 700m. As a result of these new discoveries, the total strike length of the Main Carheil Graphitic Trend has now been expanded to approximately 4km as a result of this successful field exploration prospecting program.

In addition to mapping and sampling the recently discovered NW and SE strike extensions of the Main Carheil Graphitic Trend, the Company has also identified, mapped and sampled a previously undiscovered parallel high-grade graphite zone to the west of the Main Carheil Graphitic Trend, known as the West Carheil Graphitic Trend.

Multiple samples were collected along the strike length of the West Carheil Graphitic Trend with assay results identifying several high-grade graphite occurrences. Importantly, the samples collected are outside of the area drilled and channel sampled. The strike length of the recently discovered West Carheil Graphitic Trend is approximately 900m (minimum) and remains open in both directions. This highlights the potential for significant additional high-grade tonnage to be discovered through additional exploration and diamond drilling.

A south-east extension of the high-grade Main Carheil Graphitic Trend was also identified. This new zone was mapped for an additional 750m (approximately) along strike from the historic high-grade Lac Carheil Prospect. The south-east extension identified numerous high-grade occurrences confirming a continuation of the high-grade graphite which was intersected in previous diamond drilling such as DDH LR19-09 which intersected 70.0m at an average grade of 17.1% Cg from 9.0m.

Prospecting was also undertaken along the north-west extension of the high-grade Main Carheil Graphitic Trend. The conductors identified multiple zones of graphite flake mineralisation over a strike length of approximately 700m with high priority zones also identified.

The strike length along the Main Carheil Graphitic Trend including the recently discovered SE
and NW extensions total approximately 4km.

A follow up exploration campaign has been designed on the newly discovered West Carheil Graphitic Trend comprising trenching, channel sampling and diamond drilling.
 

LAC RAINY FIELD EXPLORATION PROGRAM

The Company and Magnor have conducted a field prospecting and exploration program on the Lac Rainy Graphite Project. The aim of this field work was to prospect the project generally to map and identify any additional mineralised structures, to prospect the Main Carheil Graphitic Trend in the north-west direction and to follow up the south-east extensions of the Main Carheil Graphite Trend that was channelled in 2018 and drilled during winter 2019.

The Company also assessed the potential of graphite mineralisation of a new area where heavily mineralised boulders were identified during summer 2018 when the Company completed previous field work along the Lac Carheil main access trail located 1.2 km south-west of the Lac Carheil Graphite Showing (known as the West Carheil Graphitic Trend).

An investigation was also carried out on marble and calc-silicate outcrops located outside the Lac Rainy mineral claims in order to locate pure marble outcrops that could be used as additives for metallurgical processing of graphite ore. The Company also used a Beepmat supplied by GDD Instruments Co. (Beepmat) to detect either highmagnetic or electromagnetic (MAG-EM) conductors at surface  (<1.2 m deep). A total of 51 samples were taken for geochemical analysis for graphitic carbon (Cg), sulphur (S) or a package of multielements.


 

 

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