International Graphite reports strong assay results from drilling at Mason Bay deposit

International Graphite (ASX: IG6) has reported strong graphite assays from four holes at the Mason Bay deposit within its wholly-owned Springdale project on the south coast of Western Australia.

The results follow a ten-hole diamond drilling program completed between May and July at Mason Bay and Springdale Central.

The mineralisation at Mason Bay is believed to be shallow and lying in oxide or weathered rock amenable to low mining costs, as outlined in a January scoping study.

Best assays

The program aimed to gather critical data for mine design, waste characterisation and resource classification.

It focused on geotechnical drilling to inform mine planning and permitting and on metallurgical samples for concentrator process design.

Standout intercepts from the deposit were 11 metres at 14.3% total graphitic carbon (TGC) from 10.4m including 1m at 21.3% TGC from 13m and 3.1m at 26.5% TGC from 16m, as well as 3.6m at 22.1% TGC from 23m including 3.2m at 24.2% TGC from 23.4m.

Drilling of a further six diamond holes at Springdale Central is complete and assays are expected in the coming weeks.

‘Global significance’

Chief executive officer Andrew Worland said the company had experienced continued positive results from Springdale.

“This project is shaping up as one of global significance to the high-growth lithium-ion battery markets and industrial and defence sectors,” he said.

The company believes Springdale has considerable potential for expansion beyond known deposits

“Only around 25% of the targets identified in a previous aeromagnetic survey have been drilled to date.”

“We expect further exploration and in-fill drilling will add considerable mine life beyond that which was generated in our scoping studies.”