Global Energy Metals Corp., a multi-commodity critical mineral exploration and development company, announced that ASX-listed Metal Bank Ltd., acting as project operator, has commenced diamond drilling at the Millennium copper–cobalt–graphite-gold project in Queensland, Australia. The drilling forms part of a $250,000 Queensland Government-funded Collaborative Exploration Initiative (CEI), with Global Energy Metals fully carried on exploration spending as part of Metal Bank’s earn-in for an 80% interest in the Millennium project.
Drill Program Targets High-Grade Graphite and Metallurgical Samples
The diamond drilling program is focused on high-grade graphite extensions near surface, as well as the collection of bulk metallurgical samples. The work is partially funded by the Queensland Government CEI grant. In addition, Metal Bank has lodged a new Mining Lease application adjacent to the existing five granted leases, covering a key Gap Zone of copper-cobalt-gold mineralization and surrounding graphite targets. Approval of this lease could positively influence project economics and advance Millennium toward production readiness.
The drill program specifically targets near-surface graphite extensions along with bulk samples within and adjacent to the JORC 2012 Mineral Resource Estimate of 8.4 million tonnes grading 0.09% cobalt, 0.29% copper, and 0.12 g/t gold, equating to 1.23% CuEq.
Gap Zone and Historical Drilling Highlights
The newly applied lease encompasses 159 hectares, including the Gap Zone, a previously inaccessible 200m x 200m area not included in the current resource. Historic RC drilling from the Gap Zone demonstrated continuity of mineralization, including 23m at 0.48% Cu, 0.16% Co, 0.16 g/t Au from 16m and 13m at 0.53% Cu, 0.30% Co, 0.24 g/t Au from 40m, confirming strong copper-cobalt-gold potential.
The additional lease area also includes western extensions for graphite targets and eastern areas for operational infrastructure, enabling a broader development scope for both critical battery minerals and gold-copper resources.
Strategic Commentary from Global Energy Metals and Metal Bank
Mitchell Smith, President and CEO of Global Energy Metals, commented:
“This government and partner-funded drill program, operated by Metal Bank, advances the Millennium project at no cost to Global Energy Metals. It demonstrates our strategy of unlocking value from significant yet non-core assets while building shareholder exposure to minerals critical to the new energy era.”
Ines Scotland, Chair of Metal Bank, added:
“The next phase of development focuses on defining graphite mineralization atop and adjacent to the copper-cobalt-gold resource. Expanding into the Gap Zone and further assessing graphite potential will materially enhance the project’s economics.”
Millennium is located in a strategically accessible mining region near Cloncurry, Queensland, south of Harmony’s Eva copper-gold project and near Austral’s Rocklands copper project, which is scheduled for a mid-term restart.
Regional Mineral Context
Millennium lies between major graphite development projects in northwest Queensland, including the Corella deposit (14 km south, 13.5 Mt at 9.5% TGC), the Burke deposit (107 km north, 9.1 Mt at 14.4% TGC), and the Mt Dromedary deposit (7.0 Mt at 14.5% TGC), illustrating a regionally rich corridor for high-grade graphite.
The Millennium project shares geological features with the Corella deposit, including metamorphosed graphitic shales, slates, and schists of the Milo Beds, proximal to mafic units and structural corridors—key factors for high-quality graphite mineralization.
Graphite Processing and Battery Applications
Metallurgical and electrochemical testing at nearby deposits has produced high-grade graphite concentrates with strong recovery rates, demonstrating material suitability for downstream processing in battery and technology applications.
Metal Bank, with full support from Global Energy Metals, is pursuing further exploration to unlock additional value from the Millennium project, including surface mapping, sampling, metallurgical testing, and refining graphite flake size, sphericity, and purity. These efforts aim to define near-term Exploration Targets and potential additions to the Mineral Resource Estimate.
