International Graphite (ASX: IG6) reports what it terms “sensational” drilling results from its exploration program at the Springdale graphite mine in Western Australia.
The company says the final bunch of assay results add more evidence that there has been an exceptional discovery at Mason Bay, one of the four new deposits identified during the 2022-2023 drilling campaign.
In April, International Graphite’s exploration program at the Springdale graphite project saw this fourth discovery, with the new Mason Bay target — 2km east of the existing Springdale resource — producing strong grades from a previously undrilled area.
Mason Bay dominates assays
Of the 21 reverse circulation holes drilled at Mason Bay, the results termed standout assays included 11m at 11.7% total graphitic content (TGC) from 47m and including 2m at 21.9% TGC.
Other holes included 13m at 6.4% TGC, 14m at 7.8% TGC and 12m at 11.6% TGC — all of those holes including higher grade intervals.
Two holes at Springdale Central returned one assay of 3m at 19.1% TGC, including 2m at 27.5% TGC.
Extensional drilling with 11 holes at Springdale Western produced 15m at 12.4% TGC, including 5m at 29% TGC, and 10m at 6.7% TGC with a 1m interval returning 21.2% TGC.
New mineral resources estimate within fortnight
Managing director and chief executive officer Andrew Worland said the company now has the data to finalise an updated mineral resource estimate for Springdale which, he says, is expected to be available within a fortnight.
“The assay results from infill and exploration drilling are clear evidence of the enormous graphite potential of our landholdings at Springdale,” he added.
Mr Worland said International Graphite still has large tracts of prospective land to explore which shows the potential for the mining project to support a long term mine-to-market graphite operation.
Processing plant to be built at Collie
International Graphite describes itself as an emerging supplier of processed graphite products, including battery anode material, for the global electric vehicle and renewable energy markets.
The company is developing an Australian ‘mine to market’ capability, with integrated operations wholly located in Western Australia.
This includes mining at Springdale and then commercial graphite concentrate production from its 100% owned Springdale Graphite Project and commercial scale downstream processing at Collie.
International Graphite is listed on the Australian Securities Exchange and Tradegate and Frankfurt Stock Exchange and is a member of the European Battery Alliance and European Raw Minerals Alliance.
