Overview

CANADIAN PROJECTS


 

Lac Rainy Nord Graphite Project

The Lac Rainy Nord graphite project is located in the most dominant graphite geological regions of Quebec, approximately 22km southwest of the historic mining town of Fermont and 260km north-north-east of city of Sept-Iles. The Lac Rainy Nord graphite project is located approximately 15km east of Route 389, a paved highway which travels north to Fermont.

This resource ranks as one of the highest-grade global graphite deposits, and is a JORC (2012) Resource.  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.

QUEBEC GOLD PROJECTS

Metals Australia Ltd has acquired a protfolio of gold exploration projects located in the Lac Guyer greenstone belt of northern-Quebec (Canada), an east-west trending greenstone belt which is host to numerous high-grade gold-copper and base metal discoveries.

The projects are located approximately 120km northeast of the Eleonore Gold Mine which is owned and operated by Goldcorp and are located in close proximity to the Trans-Taiga Highway which provides excellent all-year road access to the projects.

The gold projects under acquisition include the Eade Gold Project, the Pontois Gold Project and the Felicie Gold Project, which collectively cover an area of approximately 26km2.

The Eade Gold Project is split into two domains:

The Pontois Gold Project contains a rock sample which returned an assay result of 7.3 g/t Au which has not been followed up with modern exploration techniques

The Felicie Gold Project contains a rock sample which returned an assay result of 5.54g/t Au + 1.86% Cu + 4.94% Zn with a second rock sample collected in another area which returned over 10g/t Au which has not been followed up with modern exploration techniques.

Exploration will primarily be focused on the Eade Gold Project and will be undertaken at the same time as the Company continues the development of its high-grade Lac Rainy Graphite Project

WESTERN AUSTRALIA

 

Metals currently hold an 80% interest in the Manindi base metal project in Western Australia. The Manindi Zinc Project is located around 500 km northeast of Perth and is being explored with a view to expanding the existing resources and examining the project's copper potential.

 

 

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