Metals Australia Says Drilling at Canada Flake-Graphite Project Defines New Extension Zone, Shares Rise 6%
MT Newswires Live
May 23, 2025
Metals Australia (ASX:MLS) said diamond drilling results from its Lac Carheil flake-graphite project in Canada defined a new graphite extension zone to the southeast of the existing mineral resource, according to a Friday Australian bourse filing.
Drilling revealed significant intersections of high-grade graphite present within the newly discovered zone, including 27 meters at 15.9% grade of graphite from 33 meters, as well as 80.5 meters at 15.5% grade of graphite from 137.5 meters.
The firm awaits results from the laboratory, which it will use to update the resource model and define a new mineral resource estimate for the project, which is expected to be published in the third quarter.
Its shares rose 6% in recent trading on Friday.
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