Business
Focus Graphite Welcomes Nouveau Monde Graphite's Acquisition of the Uatnan Graphite Deposit, Québec
Interest in the emerging Southwest Manicouagan Reservoir graphitic district of Québec builds...
About this update from Focus Graphite Inc.
[{"type":"text","content":"Focus Graphite Welcomes Nouveau Monde Graphite's Acquisition of the Uatnan Graphite Deposit, QuébecInterest in the emerging Southwest Manicouagan Reservoir graphitic district of Québec builds upon Focus' belief in the potential of its nearby Lac Tétépisca ProjectKINGSTON, ON / ACCESSWIRE / January 26, 2024 / Focus Graphite Inc. (TSX-V:FMS) (\"Focus\" or the \"Company\") wishes to commend Nouveau Monde Graphite Inc. (NMG) on entering into an asset purchase agreement with Mason Resources Inc. (\"Mason\") for the acquisition of Mason's Uatnan property and graphite deposit (formerly known as \"Lac Guéret\"). The Uatnan property is located 5 kilometres to the south of Focus's 100%-owned Lac Tétépisca property, which is host to the Company's Manicouagan-Ouest Graphitic Corridor (MOGC) graphite deposit.On February 17, 2022, Focus released a maiden mineral resource estimate (\"MRE\") for the Lac Tétépisca project1. The MRE, prepared by DRA Americas Inc. of Montréal, Québec, includes a pit-constrained Indicated resource of 59.3 million tonnes (\"Mt\") grading 10.61% graphitic carbon (\"Cg\") for an estimated content of 6.3 Mt of natural flake graphite (in-situ). Additionally, there is an Inferred resource of 14.9 Mt grading 11.06% Cg, for an estimated content of 1.6 Mt of natural flake graphite (in-situ). Focus' MOGC deposit is one of the most significant crystalline graphite discoveries in Québec since the early 2000s.1Refer to Focus news release dated February 2, 2022, available at www.focusgraphite.com/ or at www.sedarplus.ca/ under Focus Graphite Inc.\"I would like to extend my congratulations to Nouveau Monde Graphite for its move to acquire the Uatnan graphite deposit,\" said Marc Roy, President and CEO of Focus Graphite. \"This strategic acquisition validates the vast potential that the Southwest Manicouagan Reservoir graphitic district of Québec holds as a significant source of high-purity natural flake graphite, a critical mineral in the production of anode material for electric vehicle (EV) batteries and other clean energy applications. We look forward to collaborative efforts with NMG and the key stakeholders of the region as we continue to sustainably develop our respective projects.\"In 2022, Focus completed an additional 14,900.5 metres of core drilling from 7...