Ann: High-Grade JORC Exploration Target at Lac Rainy Graphite, page-2

Might explain the buying LOL
Metals Australia Defines High-Grade JORC Exploration
Target at Lac Rainy Graphite Project, Quebec
Highlights:
▪ Existing JORC (2012) Mineral Resource Estimate of 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
▪ JORC (2012) Exploration Target Estimate in addition to the existing JORC (2012) Mineral
Resource Estimate for the high-grade Lac Rainy Graphite Project:
o Additional Exploration Target of 7.3Mt to 14.6Mt @ 7.5% to 12.5% Total Graphitic
Carbon (TGC) for an additional 0.55Mt to 1.825Mt of contained graphite using a
5% TGC cut-off, made up of:
▪ South-East Carheil Exploration Target: High-grade Exploration Target of
3.1Mt to 6.2Mt @ 8.0% to 13.0% TGC for 248Kt to 806Kt of contained
graphite using a 5% TGC cut-off
▪ West Carheil Exploration Target: High-grade Exploration Target of 4.2Mt
to 8.4Mt @ 7.0% to 12.0% TGC for 294Kt to 1Mt of contained graphite using
a 5% TGC cut-off
▪ Exploration Target is in addition to the JORC (2012) Mineral Resource
Estimate at the Lac Rainy Graphite Project
The potential quantity and grade of the defined Exploration Target is conceptual in
nature, there has been insufficient exploration to estimate a Mineral Resource and it is
uncertain if further exploration will result in the estimation of a Mineral Resource
o resource outcrops at surface with 90% of global exploration target defined within
the first 100m
o based on an open cut mining method modelled down to 150m
o JORC (2012) Exploration Target defined for the recently discovered West Carheil
Graphitic Trend – this is a significant outcome for the Company and demonstrates
the potential of this new high-grade zone
▪ Lac Rainy ranks as one of the highest-grade global graphite deposits
▪ Only the first 1.6km of strike of the 4 km of strike along the Main Carheil Graphitic Trend
has been drill tested. The SE and NW strike extensions and the recently discovered West
Carheil Graphitic Trend are still to be drilled – extensional drilling program has been
designed
▪ Deposit is open to the north and south along strike, as well as down-dip and plunge,
indicating significant exploration upside and drill ready targets
▪ Scope of engagement for Stage I Scoping Study currently being finalised with a view to
delivering the results of the Stage I Scoping Study ahead of graphite marketing program