Metals Australia intersects graphite in every hole

By Trevor Hoey. Published at May 2, 2019, in Mining

Metals Australia Ltd (ASX:MLS) has provided a promising update on the progress achieved with its maiden diamond drilling program at the company’s 100%-owned Lac Rainy Graphite Project in Quebec, Canada.

The company has continued to intersect near surface multiple wide high-grade graphite flakes with graphite intersected in every drill hole.

Metals Australia has successfully completed a total of fourteen drill holes to date.

The three additional drill holes which have been completed recently, have focused on the central portion of the strike extension to the north-west of the high-grade Lac Carheil prospect.

To date, the drilling has tested a total of one kilometre of strike at Lac Rainy, and given that graphite has been intersected in each hole, MLS is confident there is continuity of mineralisation at depth for more than one kilometre along strike.

The image below illustrates the semi-massive graphite flakes mineralisation intersected in DDH LR19-12 which intersected a zone of graphite mineralisation over a width of 26.6 metres graphite mineralisation (apparent thickness) at a depth extending from 3 metres to 29.6 metres.

Aiming to join all three zones

The Lac Rainy Graphite Project covers an area of more than 4,600 hectares representing 88 mineral claims and is contiguous with Focus Graphite’s property to the south-west, which hosts the Lac Knife Graphite Deposit, containing a Measured and Indicated Resource of 9.6 million tonnes at 14.77% Cg (contained graphite) and an Inferred Resource of 3.1 million tonnes at 13.25% Cg at a 3.0% Cg cut-off.

With a view to uncovering another large resource, Metals Australia will continue its exploration program with additional drill holes being positioned in the Western Carheil Graphite Zone.

The Phase II diamond drilling program at Lac Rainy will expand on the Phase I diamond drilling campaign with holes planned in the Central Carheil Graphite Zone with the objective being to join all three zones together, while also focusing on the depth potential and further strike extensions.

The drilling continues to affirm management’s belief that Lac Rainy is host to a potentially world-class high-grade natural flake graphite deposit.

Upcoming catalysts include the results of assays that are currently being laboratory tested.

View Our Investment Portfolios

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

Australian ASX Small Cap stocks | Why is Australia’s leading small cap publication

Founded seven years ago, is Australia’s leading and longest standing website for investor and finance news, education and expert opinion.

Published by StocksDigital, Finfeed was created to report daily on the comings and goings of ASX listed stocks in the small cap market.

As the first digital publication dedicated specifically to this space, Finfeed soon became the most trusted publication in the market, quickly garnering over two million page views – a number that continues to rise. provides its readers with informative articles that tackle the latest in market moving #ASX small cap news, plus exclusive content you won’t find anywhere else. It is aimed at those with an interest in investing, market education, company performance, start-ups and much more. is the only media organisation operating under the strength of a Financial Services License and is backed by leading journalists and analysts all with brands of their own.

The website aims to inform, educate and entertain with content that drills down into the heart of financial matters.

Finfeed is a leading source of investor and market information, with everything investors need to know about how to invest written in a way that anyone can understand. 

Over the years, the website has expanded beyond exclusively reporting on small caps, to profile Australia’s leading ASX listed small, mid and large caps as well as some of the country’s most successful CEOs and business leaders to find out what makes them tick.

Every day you will find fresh content covering:

Fast Facts

Over 4,000 articles published

Over 2.3 Million Page Views and counting

Over 10,000 followers on social media

Subscriber list growing by 2% monthly

Thanks for subscribing!