The Masugsbyn regional project covers 52km2 and hosts at least three known high-grade graphite deposits across 5 claim areas, including: Nybrannan, Suinavaara and Valivuoma.

The projects were partially historically held by Talga Group (ASX:TLG, mcap: A$558M) and contained a total exploration target of 7.8 – 16.1 Mt @ 15-30% Cg.

The Nybrannan project was mined down to a depth of 3m in the early 1900’s over an area of 25m x 7m and reportedly produced grades of up to 40% Cg. Trenching yielded grades of up to 14m @ 33.3% Cg.

The Suinavaara deposit includes a drill intercept of 19.26m @ 26.4% Cg from 50.68m downhole within a 900m EM anomaly.

Valivuoma drilling intercepted graphite bearing schist within an identified electrical conductor however no assays are available.

The area is well serviced with infrastructure and is near LKAB’s Kiruna operations, as well as Talga’s approved mining and refining operations.

EBM’s Masugsbyn project is well serviced with infrastructure linking it directly with export routes through both major road and rail networks.

Regionally major operations include:

Kiruna magnetite mine, globally the largest underground iron ore mine, operational since early 1900’s.

Vittangi Mine, Talga group’s Vittangi project which is a fully approved, including Natura 2000 permit, graphite mine in Norbotten County.

Lulea Refinery, Talga Group has recently acquired land in Lulea to construct a permitted Anode Refinery.

The Masugsbyn project benefits from existing infrastructure linking directly to the project area, which significantly decreases exploration support costs and capital requirements for new developments.

A precedent for permitting and social governance has been set by Talga and provides a clear route to development for similar projects in the region.

Downstream processing facilities in the region provides a potential value add opportunity.

Mineralisation has historically been intersected over a 2.5km north trending corridor within the tenement through grab samples, trenches, drilling and historical workings.

EM anomalies were targeted in the maiden drill program and successfully intersected high grade mineralisation from near surface to a depth of 112m.

A parallel EM conductor trend located 2km to the west of the Nybrannan deposit is also captured by the exploration licenses. The conductor is coincident with a dolomite unit which is associated with graphitic schist.

Suinavaaragruvan, 2km northwest of Lautakoski village, is a graphite prospect, drilled with a 98-metre hole in 1958 by Rederi AB Nordstjernan.

The drilling intercepted several zones of graphite mineralisation with a combined width of 55m and grades of up to 35% C.

An additional electrical conductor with a strike length of 900m is located 1km northeast of the drilling.

The Valivuoma deposit was historically drilled however no assays are available at this time. The drill core is stored by the Swedish geological survey.