Metal Bank (ASX: $MBK) announces significant graphite discovery at Millennium Project

Metal Bank Limited (ASX: $MBK) has reported significant graphite intersections in recent exploration drilling at its Millennium Project in northwest QLD. The company's recent observations are supported by historic high-grade rock chip results and previous drilling, with graphite present over a >2km strike length. The drill assays are pending, and positive results could potentially add significant project value on granted mining leases. The existing Co-Cu-Au mineral resource of 8.4Mt @ 1.23% CuEq2 at the Millennium Project is adjacent to the observed graphite intervals.

Executive Chair, Inés Scotland, highlights the potential of the recent graphite discovery

Inés Scotland, Executive Chair of Metal Bank, expressed excitement about the recent developments at the Millennium Project. She emphasized the significant under-explored potential and value to be unlocked, not only for cobalt, copper, and gold mineralization but also for valuable transition products like graphite. Scotland also mentioned the company's focus on the MENA strategy, with ongoing applications for copper projects in Jordan and collaboration with a Saudi JV partner to identify base metal and critical minerals projects in Saudi Arabia.

Outlook for Metal Bank's Millennium Project and graphite potential

Metal Bank's recent drilling at the Millennium Project has uncovered significant graphite intersections, indicating substantial under-explored potential and value to be unlocked. The company's focus on the MENA strategy and applications for copper projects in Jordan, along with collaboration in Saudi Arabia, demonstrates its commitment to diversifying its asset portfolio. With the increasing demand for graphite in the electric vehicle lithium-ion battery sector, Metal Bank aims to extract maximum value from its Australian asset portfolio and assess the potential for further value to be unlocked from developing the graphite potential at the Millennium Project. The company awaits assay results for Co-Cu-Au mineralization and graphite from the recent drilling and continues to monitor the NW QLD battery metals space as projects and infrastructure develop.