**Northern Graphite Corporation (TSXV: NGC) (OTCQB: NGPHF) (FSE: 0NG) (XSTU: 0NG)** has announced a significant grant from Québec’s Ministère des Ressources Naturelles et des Forêts (MRNF) for its Lac des Iles drilling program.

The grant, up to C$400,000, will cover 50 percent of eligible geo-metallurgical and geo-environmental drilling expenses on the Lac des Iles mining lease. This support falls under the fourth call for projects of the MRNF’s Mineral Exploration Support Program for Critical and Strategic Minerals. The program aids companies in discovering quality mineral deposits in Québec.

“We are proud to participate in this program and support Québec’s Plan for the Development of Critical and Strategic Minerals,” said Northern’s CEO Hugues Jacquemin. This support is crucial as Québec advances its energy and technological transition and develops a greener economy.

Northern is finalizing a new reserve estimate for Lac des Iles, potentially extending the mine’s life by approximately eight years. This estimate is based on a January mineral resource evaluation from a Phase I drilling program, which identified significant graphite at depth in the existing lease.

Chief Operating Officer Kirsty Liddicoat mentioned, “A Phase II program will explore additional targets to the west of the existing pit, identified by an airborne geophysical survey. Preliminary results indicate a potential life extension of our mine, which we aim to confirm with 2024 drilling.”

Disclaimer:
The content presented on this page has not been manually verified by our team. While we strive to ensure accuracy, we cannot guarantee the validity, completeness, or timeliness of the information provided. Always consult with appropriate professionals or sources before making any decisions based on this content.

Click here for more Company News