Metal Bank Uncovers High-Grade Graphite Adjacent to Millennium Copper-Gold Pit

Metal Bank Limited ( (AU:MBK) ) has provided an announcement.

Metal Bank has reported high-grade, near-surface graphite intersections from a four-hole diamond drilling campaign at its Millennium project in northwest Queensland, including broad zones adjacent to the existing copper-cobalt-gold resource pit design. The results, supported by earlier drilling, indicate laterally continuous graphite mineralisation over more than 2km of strike, open in all directions, and potentially amenable to low-strip ratio development pending further drilling and metallurgical work.

The company has begun preliminary metallurgical testing on recent graphite samples and is resampling historical core to better define the graphite’s distribution and characteristics. Management sees the graphite, which sits in the hangingwall of the planned pit and would previously have been waste, as a value-adding critical mineral that could enhance project economics and support its strategy to transition into mining, especially alongside an MOU for toll processing at Austral Resources’ nearby Rocklands mill.

The most recent analyst rating on (AU:MBK) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on Metal Bank Limited stock, see the AU:MBK Stock Forecast page.

More about Metal Bank Limited

Metal Bank Limited is an Australian mineral exploration and development company focused on copper, cobalt, gold and now graphite, with its flagship Millennium project near Cloncurry in northwest Queensland. The company is progressing from explorer to aspiring miner, expanding tenure to secure full control of Cu-Co-Au mineralisation and investigating options to process ore at nearby third-party facilities.

Average Trading Volume: 1,977,892

Technical Sentiment Signal: Hold

Current Market Cap: A$21.03M

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