CHARTS: The coming critical minerals trade war is BRICS short of a load
"While a large number of countries around the world continue to talk about securing raw material supply, China is actually doing something about it."
Graphano Energy (TSXV: GEL) announced Wednesday it has staked an additional 20 mining claims on the western side of its existing 100% owned Lac-Aux-Bouleaux (LAB) project in Quebec.
The new claims more than double the holdings comprising the LAB project. Originally, the LAB claims consisted of 16 units covering just over 840 hectares. With the new claims (1,187 hectares), the total area now encompasses 36 claims over 2,028 hectares, the company said.
Lac-Aux-Bouleaux is adjacent to the south of Northern Graphite’s Lac des Iles mine, the only operating graphite mine currently in North America.
In April, Graphano reported initial assay results from the 2023-24 winter drilling program on Zone 3 at LAB, intersecting 6.33% graphitic carbon (Cg) over 13.82 metres starting at 38.23 metres drilled depth; and 5.75% Cg over 14.42 metres at 53.58 metres depth, including 7.64% Cg over 7.64 metres.
The stratigraphy and geology are similar to the original LAB project claims and the Lac des Iles mine, the company said, adding that the new claims’ area remains largely unexplored.
Graphano was a former subsidiary of Manganese X Energy (TSXV: MN) but was spun out in 2020 to become an independent public company to explore the LAB property.
LAB is accessible through provincial Highway 117 then following secondary roads 309 and 311. The town of Mont-Laurier is located about 20 kilometres to the north, and Montréal is 150 km to the southeast of the property.
Graphano has staked two sets of additional graphite claims, about 5 km and 10 km south from the LAB project. A total of 11 claims covering 600 hectares were staked and comprise the Dudley and Lac Vert-Bouthillier graphite showings.
“We are pleased to have extended our LAB claims, significantly enhancing our exploration potential in the area,” Graphano CEO Luisa Moreno said in a news release.
“The LAB region, home to an historical graphite mine and adjacent to the operating Lac-des-Iles mine, is the only graphite-producing area in North America,” Moreno said. “Our exploration results at the LAB project have been very promising, reinforcing our commitment to expanding our footprint in this region.”
