International Graphite’s Springdale deposit further enhances reputation with new high-grade results
International Graphite (ASX: IG6) continues to obtain significant assay results from its 100%-owned Springdale graphite project on the south coast of Western Australia.
The company has described its latest assays from six diamond drilling (DD) holes at the Springdale Central deposit as “spectacular,” following the receipt of outstanding results last month from the Springdale Mason Bay deposit.
The latest results were part of a ten-hole program completed between May and July this year at the Mason Bay and Springdale Central deposits.
Reputation growing
Springdale grabbed national attention after a 240% increase in the mineral resource estimate was reported in September 2023 and managing director and chief executive officer Andrew Worland says drilling continues to build on the project’s reputation.
“It is clear to us that a spectacular graphite deposit is continuing to reveal itself at Springdale,” Mr Worland said.
“So many of the key determinants for a low-cost mine are present: shallow overall deposit depth, limited drill and blast, good grades, oxidised material for processing, single product lines – and all in a tier-one mining jurisdiction.”
“On top of all the positive attributes, the exploration potential for future mineral resource growth is clear to see.”
Results confirmed
The latest results continue to confirm the continuity of mineralisation along strike, as well as the grade and overall veracity of the mineral resource at Springdale, which will supply ore to International Graphite’s downstream processing facility at Collie, south of Perth.
International Graphite reported further strong assays in mid-September from the first four DD holes at the Mason Bay deposit.
That program focussed on geotechnical drilling to inform mine planning and permitting and provide metallurgical data for concentrator plant process design.
Growing market
The latest results are a boost for International Graphite’s road to commercialisation.
Chair Phil Hearse recently told shareholders in International Graphite’s annual report that the company is targeting a massive and growing market.
“I have worked in the mining industry for 50 years and seen many cycles,” he said.
“Despite the current tough equity market conditions, the primary demand drivers for graphite are very positive and the board and management team are incredibly optimistic and determined to build an outstanding and globally significant graphite company.”