Government-funded exploration targets high-grade graphite, expanding resource potential and supporting future supply for clean-energy technologies.
Vancouver, British Columbia, 29 November 2025 — Global Energy Metals Corporation has announced a major step forward for its Millennium Copper-Cobalt-Gold-Graphite Project in Queensland, Australia, as partner and project operator Metal Bank Ltd. begins a new diamond drilling program funded through an AUD $250,000 Queensland Government Collaborative Exploration Initiative (CEI) grant. The program is expected to significantly advance understanding of the Project’s graphite potential and strengthen its long-term economic outlook.
Expanding a High-Value Critical Minerals Asset
Global Energy Metals, a multi-jurisdictional company focused on the minerals essential for clean-energy technologies, confirmed that drilling is now underway at the Millennium Project near Cloncurry, Queensland. Metal Bank, which is earning an 80% interest in the project, is fully funding the exploration, allowing Global Energy Metals to advance the asset at no cost.
The new drilling aims to define extensions of high-grade graphite discovered in earlier campaigns while collecting bulk samples for metallurgical testing. These tests will evaluate graphite quality, flake size, recovery potential, and suitability for high-value applications, including electric-vehicle (EV) batteries.
Government-Backed Program Unlocks New Opportunities
Supported by CEI funding, the drilling program focuses on near-surface targets within and adjacent to the existing JORC-compliant resource of 8.4 million tonnes containing cobalt, copper, gold, and graphite. This resource includes a copper equivalent grade of 1.23%, further highlighting Millennium’s position as a promising multi-commodity project.
Metal Bank has also applied for a new mining lease covering 159 hectares, including the high-priority “Gap Zone.” This area hosts strong copper-cobalt-gold results from earlier drilling but remains outside the current resource estimate. Granting this new lease could greatly improve project development potential and future production economics.
Strategic Importance Amid Rising Graphite Demand
Graphite demand continues to surge, driven by global adoption of EVs and advanced battery technologies. Each EV battery contains 20–30 times more graphite than lithium, making it one of the most essential energy-transition minerals. With supply tightening and global markets seeking alternatives to China-dominated supply chains, high-quality Australian graphite deposits are gaining strategic significance.
Millennium’s geology closely matches nearby, well-known Queensland graphite deposits such as Corella and Burke. These deposits have produced high-grade concentrates and strong electrochemical test results, indicating suitability for battery-grade graphite processing. Similar outcomes are expected as Millennium advances through the current drilling and testing cycle.
Leadership Perspectives
Mitchell Smith, President and CEO of Global Energy Metals, emphasized the value of the partner-funded work:
“This government-supported drilling program moves Millennium forward at no cost to Global Energy Metals. It perfectly reflects our strategy of unlocking value from significant assets while building exposure to minerals vital to the global clean-energy transition.”
Ines Scotland, Chair of Metal Bank, highlighted the broader economic uplift:
“Defining the graphite resource and expanding the mine plan into the Gap Zone could substantially enhance Millennium’s economics. This project sits in a mining-friendly district near major copper and graphite developments, positioning it as a key future supplier of critical minerals.”
A Strengthening Position in Queensland’s Critical Minerals Hub
Millennium lies within one of Australia’s most prospective critical minerals corridors. Its location near major projects, including Harmony’s approved A$2.6 billion Eva Copper-Gold Project, places it at the center of Queensland’s emerging battery-materials industry.
Metal Bank and Global Energy Metals plan continued geological mapping, resource modeling, metallurgical testing, and resource expansion during the coming months. Drilling results are expected in late January, with further updates to follow on the mining lease application.
As global industries accelerate toward electrification and cleaner energy systems, projects like Millennium are positioned to play a critical role in supplying the cobalt, copper, gold, and high-grade graphite needed for tomorrow’s technologies.
