Metals Australia Fast-Tracks Advancement of Key Lac Carheil Graphite Asset

Metals Australia Ltd (ASX: MLS) is advancing its high-grade Lac Carheil flake graphite project in Quebec, Canada, following a successful 9,538m drilling campaign. The program increased graphitic carbon intercepts by ~595%, significantly enhancing the Mineral Resource Estimate (MRE). The newly identified Southeast Extension Zone yielded high-grade results (up to 17.7% TGC) and will be prioritized in the mine plan. Improved continuity across the 2.3 km graphite strike—including SE, NW, and connector zones—supports a single, large-scale open-cut mine development. DRA Americas has been appointed to lead mine planning as part of the Pre-Feasibility Study (PFS). Concurrently, metallurgical and battery-grade graphite test work continues, with promising SPG results up to 99.96% Cg. The project also secured ~AU$660 thousand in Quebec government funding and awaits outcomes from Canadian and U.S. infrastructure grant applications. These developments position Lac Carheil as a critical North American battery anode material supply source

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