Focus Graphite completes initial resource estimate for Lac Tétépisca project in Quebec

Focus Graphite (TSX.V: FMS; US-OTC: FCSMF) has released the first resource estimate for the MOGC deposit on its 100%-owned Lac Tétépisca graphite project, and CEO Mark Roy says it is “one of the largest undeveloped flake graphite deposits in Quebec.”  

The MOGC deposit contains indicated resources of 59.3 million tonnes grading 10.61% graphitic carbon for 6.3 million tonnes of natural flake graphite. Inferred resources add 14.9 million tonnes grading 11.06% graphitic carbon for 1.6 million tonnes of natural flake graphite. The resource used a cut-off grade of 3.9% graphitic carbon.  

“The MOGC deposit is considered unique in that it forms a well-defined, linear, tabular-shaped body with clear cut limits on either side,” Roy said in an interview. “Starting next month, Focus is planning to drill another formation with similar characteristics that has been found 2 km to the west of the MOGC.” 

The 6,200-hectare project, 240 km from the industrial city of Baie-Comeau, consists of two contiguous properties, Lac Tétépisca and Lac Tétépisca Nord. 

The company discovered the MOGC deposit in 2012, just one year after acquiring the project, and the resource estimate was based on 106 holes (16,467 metres) drilled between 2014 and 2020.. 

“We have been exploring the property steadily during that time, as we have always believed in the value of battery metals, and more particularly in the value of our large flake graphite as a critical mineral in the shift to renewable energy sources,” he said. 

The company’s flagship graphite project is Lac Knife in northeastern Quebec, about 27 km south of the town of Fermont.  

 Focus’ goal is to become a supplier of critical and strategic metals. 

“We now have two significant graphite deposits in Québec,” Roy said, and this positions the company to “occupy a vital link in the North American primary graphite supply chain.”  

The 29,863-hectare Lac Knife project has measured and indicated resources of 9.5 million tonnes grading 14.77% graphite carbon for 1.41 million tonnes of natural flake graphite. Inferred resources add 3.10 million tonnes grading 13.25% graphite carbon for 411,000 tonnes of natural flake graphite. 

At presstime, Focus Graphite was trading at 7¢ per share, up 7.69% within a 52-week trading range of 5.5¢ and 24¢. The company has 547.9 million common shares outstanding for a market cap of $38.35 million.