First Canadian Graphite Expands Lac Guéret South Graphite Discovery
News related to:First Canadian Graphite Inc · 2 min read
MONTREAL, September 22, 2026 /CourierPR/ -- First Canadian Graphite Inc., a company engaged in the exploration of critical minerals, has completed its Phase II Prospectair airborne magnetic and electromagnetic ("Mag-EM") survey at the Lac Guéret South Graphite Project in Québec's Côte-Nord region. The survey, commissioned by Gatineau-based Prospectair, has expanded Zone 13 into a multi-kilometre conductive system with several priority drill targets, including a prominent southern fold nose near samples grading up to 43.4% Cg.
The Phase II survey, which covered 1,269 line-kilometres, has outlined multiple strong conductors extending for several kilometres across the property. The most significant of these is Zone 13, which has now been expanded into a district-scale graphite system. The survey results support the working model that Zone 13 may be part of a broader graphite system, rather than an isolated occurrence.
The survey has identified a significant new high-grade graphite-bearing anomaly with a confirmed strike length of 3.3 kilometres and widths exceeding 150 metres. Prospecting on this discovery has returned surface and near-surface high-grade graphite, with 46 samples assaying up to 43.4% graphitic carbon (Cg). The Lac Guéret South project shares claim boundaries with Nouveau Monde Graphite's Uatnan Project, placing the project within a potential high-grade graphite district.
The historical estimates noted in the release are not considered a current mineral resource or mineral reserve, and sufficient work has not been completed by the Qualified Person to classify the historical estimate as a current mineral resource or mineral reserve, if such is the case under National Instrument 43-101 - Standards of Disclosure for Mineral Projects. The Company has never updated this estimate and has no plan to do so in the future, potential for additional resources is believed to be limited along strike and depth.
The Company's land claims and optioned ground now exceed 200 square kilometres, establishing one of the most extensive claim portfolios in the Lac Guéret Graphite District. With more than $10 million invested to date and significant exploration upside remaining, First Canadian Graphite is focused on expanding resources and advancing the project toward a Preliminary Economic Assessment (PEA). The Company has sufficient funding to continue advancing Lac Guéret South through 2026.
The next step will be a Phase III exploration plan, which will include mechanized exploration, trenching and diamond drilling, and is set for this fall. Shortly after that, the Company anticipates beginning a comprehensive drill program with the intention of proving up an NI 43-101 compliant Mineral Resource Estimate (MRE).
The Lac Guéret South project is located in the southwest Manicouagan reservoir area, approximately 234 kilometres north-northwest of Baie-Comeau in Québec's Côte-Nord region, on the Nitassinan (ancestral territory) of the Pessamit Innu. The project borders Nouveau Monde Graphite's Uatnan graphite project.
First Canadian Graphite Inc. is committed to advancing its Lac Guéret South high-grade graphite property to support applications in energy transition and advanced technologies. The company is focused on expanding resources and advancing the project toward a Preliminary Economic Assessment (PEA). The company has sufficient funding to continue advancing Lac Guéret South through 2026.