Metals Australia Limited (ASX:MLS)
Metal Australia Limited (ASX:MLS) operates in the mineral resource sector, with its focus on exploration for graphite and gold in Canada, and lithium, zinc and other base metals in Western Australia.
Lac Rainy Nord Graphite project is located in one of the most dominant graphite geological provinces in Quebec. This is a JORC (2012) resource and ranks as one of the highest-grade global graphite deposits. The project is located southwest of the mining town of Fermont and easily accessed by road. The graphite mineralisation occurs in biotite bearing quartz-feldspar gneiss.
Metals Australia has acquired a portfolio of gold exploration projects located in the Lac Guyer greenstone belt of northern-Quebec (Canada), an east-west trending greenstone belt which is host to numerous high-grade gold-copper and base metal discoveries. The projects are Eade Gold Project; Felicie Gold Project and Pontois Gold Project.
The greenstone belt contains multiple gold occurrences that indicate prospectivity for gold mineralisation. This is supported by the reported widespread distribution of low-grade sulphide mineralisation (possibly due to alteration) at the Felicie Gold Project. Gold occurrences are aligned in an east-west direction along the main regional shear zones to the north and south of the granite.
In Western Australia, the Company holds an 80% interest in Manindi base metals project. The Project is located northeast of Perth and is being explored by Metals Australia with a view to expanding the existing zinc-copper resources and examining the projects newly recognised copper and nickel mineralisation potential.
Metals exploration portfolio supports a business model designed to facilitate the discovery and development of economic mineral deposits. The combination of extensive corporate and exploration experience within a lean corporate structure provides the most effective use of shareholders funds.