Metals Australia Ltd (ASX:MLS) Receives $660K Grant for Lac Carheil Graphite Project
Grant Funding Awarded
Metals Australia Ltd (ASX:MLS) has announced that its Canadian subsidiary, Lac Rainy Graphite Inc., has been awarded a grant of up to $660,000 AUD from the Quebec Ministry of Natural Resources and Forests. The grant, part of the Mining Research and Innovation Program (PARIDM), aims to support the advancement of the Lac Carheil Flake Graphite Concentrate Plant design through detailed process equipment investigation and metallurgical test work.
Project Advancement
The funding will facilitate the production of a feasibility-level process flow sheet design, complementing the revised mineral resource and mining work scopes. This will propel the Lac Carheil project towards feasibility, enhancing its potential as a strategic source of critical minerals for Quebec and Canada.
Executive Comments
Metals Australia CEO Paul Ferguson stated, “We are delighted and grateful to the Quebec Minister of Natural Resources and Forests and the selection committee, to be awarded such a prestigious grant. The endorsement from the Minister of employment – who is also responsible for the Cote Nord region, where our project is situated, indicates the increasing profile our project is achieving in Quebec. The Lac Carheil project is progressing rapidly. We are advancing through PFS design of our process and non-process infrastructure with Lycopodium Minerals, Canada. Our project claims area has grown 3-fold in just the last 6 months and resource modelling, mining, hydrogeological, geotechnical and environmental studies will proceed when the winter drilling program is complete. We look forward to working with the Quebec government – and all stakeholders – as we develop the project as a strategic source of critical mineral for Quebec and Canada – all at a time when domestic supply is in focus.”
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