Proactive Investors - Run By Investors For Investors

Metallica Minerals drills up hints of a major graphite find

Metallica Minerals drills up hints of a major graphite find

Metallica Minerals’ (ASX:MLM) Esmeralda graphite project in Queensland has confirmed its potential to host a large-scale deposit after new drilling intersected 49 metres of visible graphite mineralisation.

This result was recorded from a depth of 72 metres and followed a previous hole which encountered 120metres of visible graphite mineralisation at a depth of 68 metres.

The work is believed to indicate potential for lateral continuity of more than 1.2 kilometres across the 750-square-kilometre project.

When considered with promising historical data, the latest results suggest that the targeted graphitic granite breccia might extend much further to the west and remain open to the east.
Preliminary assay results for the two holes are expected towards the end of November.

Igneous or hydrothermal-style graphite deposits, such as Esmeralda, are rare.

The more common metamorphic-style graphite deposits make up about 95% of the world’s known graphite deposits.

Hydrothermal-style graphite deposits are typically of high purity graphite in either flake or crystalline form. Examples of this style of mineralisation include the high-grade, narrow-vein Sri Lankan deposits and the Albany graphite deposit in Canada.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

View full MLM profile View Profile

Metallica Minerals Ltd Timeline

August 14 2014

Related Articles

Chris Giles signs the Kalkaroo Native Title Mining Agreement
January 15 2019
Kalkaroo is Australia’s largest undeveloped open pit copper-gold deposit on a copper-equivalent basis.
A gold pour
February 26 2019
Metalla aims to leverage precious metal exposure by acquiring royalties and streams to build value for shareholders
May 29 2019
Executive chairman, Nick von Schirnding, said the Cheyeza and Lumbeta anomalies discovered at Zamsort are a “potential game changer"

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use