01:11 PM EDT, 06/27/2024 (MT Newswires) -- Northern Graphite ( NGPHF ) on Thursday said it received a grant from the Quebec government for its drilling program at its Lac des Iles project.

The grant, for up to $400,000, will pay for half of the eligible expenses for geo-metallurgical and geo-environmental drilling to be carried out this year on the Lac des Iles mining lease.

Northern Graphite ( NGPHF ) is completing a new reserve estimate for Lac des Iles that it believes will show potential to extend the life of the mine by eight years.

The company's shares were last seen up 0.1% to $0.13 on the TSX Venture Exchange.

Price: 0.13, Change: +0.01, Percent Change: +8.70