First Canadian Graphite Reports High-Grade Graphite Prospecting Results up to 43.4% Cg at Lac Gueret South Project
First Canadian Graphite’s high-grade Zone 13 assays validate the conductor, while the company’s cash runway necessitates a near-term capital raise.
First Canadian Graphite Inc. released Phase I Beep Mat prospecting results from Zone 13 at its Lac Guéret South Project on July 30, 2026. The program returned 46 grab samples with graphitic carbon (Cg) grades up to 43.4%, with 14 samples (30%) exceeding 20% Cg. Management confirms Zone 13 as a significant new discovery within a previously untested kilometre-scale electromagnetic conductor.
The company is advancing to Phase II exploration, which includes expanding surveys to Zone 13 and Zone 6, sampling the Esbec occurrence, and initiating the Authorization for Impact Exploration Work (ATI) regulatory process. A late-fall 2026 diamond drilling campaign is planned to test downdip continuity and expand the resource base.
First Canadian Graphite Inc. (FCI) released assay results on July 30, serving as a direct follow-up to its July 7 and July 16 announcements concerning the discovery and sampling of Zone 13. The results materially exceeded management's initial expectations, with over 30% of samples returning grades above 20% Cg, validating the high-grade potential of the EM conductor.
This discovery reinforces the district-scale potential of the Lac Guéret South property and provides a strong technical foundation for the planned fall drilling campaign. Financially, the news is incremental. It does not alter the company's near-term cash position, revenue profile, or valuation metrics. It is a standard exploration milestone that de-risks the upcoming drilling program but does not constitute a market-moving event on its own.
First Canadian Graphite Inc. is an exploration-stage company focused on the Lac Guéret South Project (formerly Berkwood) in Quebec's Côte-Nord region. The project sits on a 167 km² land package, making it one of the largest claim positions in the district, and borders Nouveau Monde Graphite's Uatnan project.
Historical NI 43-101 resources at Zone 1 include 1.76 million tonnes indicated at 17% Cg and 1.53 million tonnes inferred at 16.4% Cg. The company is advancing a fully funded exploration program targeting resource expansion, metallurgical characterization, and a Preliminary Economic Assessment. Infrastructure advantages include proximity to all-season roads, regional rail, and the deep-water Port de Baie-Comeau.