Focus Graphite receives green energy grant
Focus Graphite Inc. [FMS-TSXV, FCSMF-OTCQX, FKC-Frankfurt] said it has been awarded a grant of up to $350,000 by Quebec’s Ministry of Energy and Natural Resources.
It said the grant will be used to fund a geometallurgical study of the company’s Manicouagan-Ouest graphitic corridor (MOGC) graphite deposit at its Lac Tetepisca graphite property in Quebec.
Focus Graphite holds a 100% interest in the Lac Tetepisca graphite property, which covers 5,503 hectares and is located in the southwest Manicouagan reservoir area, 234 kilometres northwest of Baie-Comeau in the Cote-Nord administrative region of Quebec.
The Lac Tetepisca discovery is also located 10 kilometres north of Mason Graphite Inc.’s [LLG-TSXV; MGPHF-OTCQX] Lac Gueret project in northern Quebec.
News of the grant comes after Focus recently launched a 3,000-metre exploration drill program at its Lac Tetepisca. It said the program will test two high-priority targets, Southwest MOGC and West Limb.
The Southwest MOGC target encompasses the southwestern extension of the linear kilometre-scale ground geophysical magnetic-electromagnetic anomaly, which hosts the company’s recently announced Manicouagan-Ouest graphitic corridor (MOGC) flake graphite deposit.
On February 17, 2022, the company announced a pit constrained resource for MOGC of 59.3 million tonnes, grading 10.61% Graphitic Carbon (Cg), for an estimated content of 6.3 million tonnes of natural flake graphite and an inferred resource of 14.9 million tonnes, grading 11.06% Cg or an estimated content of 1.6 million tonnes of natural flake graphite.
As a result, Focus now holds two significant deposits in Quebec.
The grant award is part of the Quebec government’s program to support exploration for minerals needed for green and renewable energy technologies as outlined in its 2020 to 2025 plan for development of critical and strategic minerals.
“By developing a geometallurgical model, we hope to advance our understanding of our MOGC graphite deposit and determine what it will take to develop it as a source of high-quality, high purity flake graphite materials to supply the expanding electric vehicle (EV) battery market, as well as other applications for which graphite concentrates of the highest quality are required,” said Focus Graphite President and CEO Marc Roy.
Its portfolio includes a 100% interest in the Lac Knife crystalline flake graphite deposit located in the Cote Nord region of Quebec. At approximately 15% graphitic carbon (Cg), Lac Knife is one of the highest- grade flake graphite deposits in the world, Focus Graphite has said.
An updated resource released in January, 2014 showed a measured and indicated resource of 9.6 million tonnes, grading 14.77% Cg. On top of that is an inferred resource of 3.1 million tonnes of grade 13.25% Cg.
On June 16, 2022, Focus Graphite shares closed at 40 cents and currently trade in a 52-week range of $1.20 and 35 cents.