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FC Graphite plans to start drilling Zone 13 at its Lac Guéret South project in Quebec next month, aiming to test whether surface graphite mineralization continues at depth. CEO John LaGourgue is targeting up to 20,000 metres and a first resource estimate early next year, but the estimate depends on drilling results and the campaign requires additional funding.
An airborne electromagnetic survey earlier this year outlined a conductor at Zone 13 about 3.8 kilometres long and up to 600 metres wide. Subsequent fieldwork traced graphite-bearing outcrops and near-surface mineralization across about 3.3 kilometres. Of 46 surface samples, the company reported graphitic carbon grades of up to 43%; more than 30 samples graded above 20%. These surface results do not establish the size or continuity of mineralization at depth.
Before drilling, LaGourgue said the company planned to strip ground and collect channel samples to refine targets. A second helicopter survey was underway last month to trace conductors outside the original coverage. The planned work is subject to Quebec authorization. The company has more than 200 square kilometres of claims and optioned ground around Lac Guéret South; Zone 13 is one of seven main conductive targets identified across the property.
FC Graphite also commissioned Quebec City-based Corem to test four samples of about 20 kilograms each, including two from Zone 13. The tests are intended to assess graphite liberation, flake size, concentrate purity and flotation response. The results could help the company define a potential saleable product before approaching buyers and strategic investors.
Drilling Will Test Zone 13’s Scale
The drilling is the key test of whether the broad surface indications translate into a deposit with enough underground width and continuity to support a resource. Until that is demonstrated, the reported conductor dimensions and sample grades remain exploration evidence rather than a measure of a mineable deposit.
A resource estimate would give investors and potential partners a more defined basis for assessing the project. FC Graphite’s existing Zone 1 estimate offers evidence of grade, but the company considers it historical and says it does not provide the scale it is seeking. A successful Zone 13 result could make Lac Guéret South more comparable with other graphite projects in Quebec’s Manicouagan district, though no such outcome is assured.
The company’s proposed route is to mine graphite, produce concentrate and sell it to processors, rather than build facilities to make spherical graphite or anode materials. That approach avoids the cost and technical demands of downstream plants, but leaves the project dependent on buyers and Western processing capacity, which the report describes as still developing.
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Zone 1 and the Manicouagan District
FC Graphite’s only defined deposit is Zone 1. A 2019 estimate reported 1.76 million indicated tonnes grading 17% graphitic carbon and 1.53 million inferred tonnes grading 16%. The company now treats those figures as historical; they should not be read as a current resource estimate for the project.
Lac Guéret South is about 234 kilometres north of Baie-Comeau in Quebec’s Côte-Nord region. Nearby graphite projects include Nouveau Monde Graphite’s Uatnan project and Focus Graphite’s Lac Tétépisca deposit, which the report places about five kilometres north of Uatnan. The project has year-round road access, nearby grid power from Hydro-Québec’s Manic-5 complex and access to a deep-sea port at Baie-Comeau.
FC Graphite has hired Groupe Nipi, owned by the Pessamit Innu, for field access and environmental work. The property lies within the Pessamit Innu’s Nitassinan ancestral territory. The wider policy backdrop includes federal support for graphite: the report cites a seven-year commitment by Ottawa to buy 30,000 tonnes of concentrate annually from Nouveau Monde’s Matawinie mine, alongside $459 million in financing.
““We’re not messing around.””
— John LaGourgue, FC Graphite CEO, speaking to The Northern Miner
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Depth, Permits and Funding Remain Open
It is not yet clear whether Zone 13’s surface mineralization persists at depth with the width and continuity required for a resource. Surface samples and geophysical conductors alone cannot establish tonnage, grade distribution or economic viability. The first resource estimate remains a target, not a completed or guaranteed outcome.
The drilling is also subject to Quebec authorization. LaGourgue said FC Graphite had about $3 million and estimated a 20,000-metre program would cost about $4 million, meaning the full campaign would require additional funding. He said planned work through this year was financed and estimated Quebec exploration incentives could reimburse about 45% of eligible spending. The amount and timing of any reimbursement, further financing and the final drilling scope were not specified in the report.
Corem’s test results, potential customer interest and the availability of Western processing capacity also remain unresolved. The company has said it would prefer several customers and does not plan to target China, but no buyers or sales agreements were identified in the source report.
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Targeting Permits, Samples and Drilling
The near-term steps described by the company are to complete field preparation and channel sampling, obtain the required Quebec authorization and start drilling Zone 13 next month. The second airborne survey is intended to trace additional conductors. The company’s stated goal is to use drilling results to support a first resource estimate early next year; whether it can meet that schedule will depend on field execution and what the drilling shows.
Corem’s test work is expected to inform the project’s potential concentrate specifications. FC Graphite has said it wants to retain enough cash to move into economic studies if drilling confirms the scale it is targeting, while limiting share dilution. Further financing details and any decision to proceed to those studies were not reported.
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Key Questions
What is FC Graphite planning at Zone 13?
The company plans to start drilling at Zone 13, at its Lac Guéret South project in Quebec, next month. CEO John LaGourgue is targeting up to 20,000 metres to test whether surface mineralization continues at depth.
When could FC Graphite publish its first resource estimate?
LaGourgue is targeting early next year. That is a company goal, and the estimate depends on drilling results and the work needed to support it.
Do the surface samples prove Zone 13 is a large deposit?
No. The company reported graphite-bearing outcrops and high-grade surface samples, but drilling must establish whether mineralization continues underground with sufficient width and continuity. The surface results do not establish a resource.
How will FC Graphite sell its graphite?
The company says it plans to produce graphite concentrate and sell it to processors, rather than build its own spherical graphite or anode-material facilities. It has not identified customers or sales agreements in the source report.
How will FC Graphite pay for the drilling?
LaGourgue said the company had about $3 million and estimated the full 20,000-metre program would cost about $4 million. He said planned work through this year was financed and cited potential Quebec incentives for eligible exploration spending; additional funding would be needed for the full campaign.
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