Metal Bank Limited (ASX: MBK) Reports High-Grade Graphite at Millennium
High-Grade Graphite Discoveries
Metal Bank Limited (ASX: MBK) has reported significant high-grade graphite results from its re-assay program at the Millennium Cu-Co-Au Project. The company has uncovered substantial intersections, including 56m at 18.29% total graphitic carbon (TGC) starting from 66m, 20m at 14.05% TGC from 64m, and 49m at 12.97% TGC from surface. These findings pertain to earlier Cu-Co-Au drilling samples and affirm the project’s potential for graphite mineralisation.
Extensive Graphite Intersections
The graphite has been identified over a strike length exceeding 2km, with significant grades located within or adjacent to the existing pit model for the project’s JORC Resource of 8.4Mt at 0.09% Co, 0.29% Cu, and 0.12g/t Au, equating to 1.23% CuEq. Inés Scotland, Executive Chair of Metal Bank, expressed enthusiasm over the results, stating, “This is a fantastic demonstration of low-cost work that adds a large amount of value to our Millennium project.”
Future Development Plans
The company plans to pursue further metallurgical testing and additional drilling to enhance graphite recovery and potential targeted resource estimates. With the anticipated growth in demand for graphite, particularly in the electric vehicle sector, Metal Bank aims to maximise the value of its Australian assets while monitoring developments in the Northwest Queensland battery metals space.
Strategic Positioning in the Market
The Millennium Project is strategically located near other graphite developments in Northwest Queensland, enhancing its potential for future growth. Metal Bank is committed to assessing and leveraging the graphite potential at the Millennium Project, aligning with the broader trend in ESG-friendly and secure sources of production.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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