International Graphite - Final assays top up a sensational 2022-23 drilling result from Springdale Graphite Project
22 August 2023
HIGHLIGHTS
- Final drill results top up a strong 2022-2023 drilling campaign paving the way for a new Mineral Resource estimate.
- Standout assays[i] include:
Mason Bay, exploration (21 RC holes)
- 11m @ 11.7% Total Graphitic Carbon (TGC) from 47m downhole including 2m @ 21.9% from 53m downhole (SGRC0240).
- 13m @ 6.4% TGC from 63m downhole including 2m @ 21.1% from 64m downhole (SGRC0240).
- 14m @ 7.8% TGC from 17m downhole including 1m @ 21.2% from 18m downhole (SGRC0241).
- 12m @ 11.6% TGC from 61m downhole including 2m @ 20.1% from 66m downhole (SGRC0241).
- 14m @ 9.6% TGC from 21m downhole including 1m @ 21.7% TGC from 22m downhole (SGRC0242).
- 13m @ 7.7% TGC from 32m downhole including 1m @ 23.7% TGC from 33m downhole (SGRC0243).
- 18m @ 10.0% TGC from 12m downhole including 3m @ 29.5% TGC from 22m downhole (SGRC0251).
- 6m @ 13.3% TGC from 49m downhole including 2m @ 23.8% TGC from 50m downhole (SGRC0254).
Springdale Central, exploration (2 RC holes)
- 3m @ 19.1% TGC from 40m downhole including 2m @ 27.5% TGC from 40m downhole (SGRC0212).
Springdale Western, mineral resource infill / extension drilling (11 RC holes)
- 15m @ 12.4% TGC from 8m downhole including 5m @ 29.0% TGC from 9m downhole (SGRC0236)
- 10m @ 6.7% TGC from 21m downhole including 1m @ 21.2% TGC from 26m downhole (SGRC0237).
- ~2,438 metres of RC drilling at an average depth of ~77 metres.
International Graphite Limited (ASX: IG6) has released final assay results from its highly successful 2022/2023 drilling campaign at the Springdale Graphite Project.
These results add more evidence of an exceptional discovery at Mason Bay, one of four new graphite deposits identified during the campaign.
Managing Director and CEO Andrew Worland said the Company now had all the data to finalise an updated Mineral Resource estimate for Springdale, which is expected to be available within a fortnight.
“The assay results from both infill and exploration drilling are clear evidence of the enormous graphite potential of our landholdings at Springdale,” Mr Worland said.
“We started with an aeromagnetic survey highlighting seven possible targets (see figure 2). So far, we have only drilled on four of these and each one has returned graphite mineralisation.
“Assay results have been exceptional from the new zones at Springdale Central, which is immediately adjacent to the existing resource, and from Mason Bay, which is just 2km to the east.
“We still have large tracts of prospective land to explore which makes us very excited about the potential for Springdale to support our plans for a long-term mine-to-market graphite operation in Western Australia.”
Drill collar data and assay results are shown in Table 1 and significant intercepts are shown in Table 2. Figures 3 and 4 show Mason Bay graphite mineralisation in cross section from the areas highlighted in Figure 2. Table 3 shows the current Mineral Resource estimate at Springdale.
Figure 1: Location of International Graphite projects.
Figure 2: Airborne electromagnetic survey (AEM) image showing conductive material in relation to resource areas and new targets at the Springdale Graphite Project.
Figure 3: Cross-section 1 showing multiple graphite zones intersected in the Mason Bay zone.
Figure 4: Cross-section 2 showing multiple graphite zones intersected in the Mason Bay zone.
Table 1: Drill Collar Data for this release (GDA94 MGAz51)
Drilled Hole ID
Easting
Northing
RL
DIP
Azimuth
EOH (m)
Type
Location
SGRC0206
257586
6246498
29
-60
305
100
RC
Central
SGRC0212
258103
6247192
27
-60
305
118
RC
Central
SGRC0228
257813
6247379
25
-60
305
52
RC
Western
SGRC0229
257840
6247364
25
-60
305
52
RC
Western
SGRC0230
257792
6247345
25
-60
305
40
RC
Western
SGRC0231
257794
6247312
25
-60
305
22
RC
Western
SGRC0232
257739
6247299
25
-60
305
22
RC
Western
SGRC0233
257766
6247280
25
-60
305
34
RC
Western
SGRC0234
257696
6247283
26
-60
305
28
RC
Western
SGRC0235
257725
6247263
25
-60
305
28
RC
Western
SGRC0236
257690
6247229
25
-60
305
34
RC
Western
SGRC0237
257718
6247221
25
-60
305
52
RC
Western
SGRC0238
257608
6247143
25
-60
305
34
RC
Western
SGRC0239
260708
6247365
26
-60
305
106
RC
Mason Bay
SGRC0240
260665
6247366
26
-60
305
106
RC
Mason Bay
SGRC0241
260625
6247366
26
-60
305
106
RC
Mason Bay
SGRC0242
260703
6247446
27
-60
305
82
RC
Mason Bay
SGRC0243
260666
6247444
27
-60
305
82
RC
Mason Bay
SGRC0244
260624
6247444
27
-60
305
100
RC
Mason Bay
SGRC0245
260746
6247447
26
-60
305
82
RC
Mason Bay
SGRC0246
260743
6247367
26
-60
305
100
RC
Mason Bay
SGRC0247
260702
6247521
27
-60
305
76
RC
Mason Bay
SGRC0248
260664
6247522
27
-60
305
76
RC
Mason Bay
SGRC0249
260605
6247522
27
-60
305
76
RC
Mason Bay
SGRC0250
260786
6247365
26
-60
305
100
RC
Mason Bay
SGRC0251
260583
6247365
27
-60
305
76
RC
Mason Bay
SGRC0252
260545
6247366
26
-60
305
80
RC
Mason Bay
SGRC0253
260784
6247449
26
-60
305
82
RC
Mason Bay
SGRC0254
260585
6247441
27
-60
305
100
RC
Mason Bay
SGRC0255
260543
6247439
27
-60
305
88
RC
Mason Bay
SGRC0256
260784
6247521
26
-60
305
76
RC
Mason Bay
SGRC0257
260744
6247521
26
-60
305
76
RC
Mason Bay
SGRC0258
260584
6247523
26
-60
305
76
RC
Mason Bay
SGRC0259
260544
6247523
26
-60
305
76
RC
Mason Bay
Table 2: Significant Graphite Intervals
Drilled Holes ID
From (m)
To (m)
Interval (m)
Average Grade (%TGC)
Location
SGRC0212
35
36
1
2.1
Central
SGRC0212
40
43
3
19.1
Central
SGRC0212 including
40
42
2
27.5
Central
SGRC0212
67
71
4
3.5
Central
SGRC0212
83
89
6
2.1
Central
SGRC0212
95
98
3
1.3
Central
SGRC0228
6
9
3
3.2
Western
SGRC0228
11
12
1
1.2
Western
SGRC0229
19
27
8
8.1
Western
SGRC0229
29
31
2
1.2
Western
SGRC0230
8
9
1
1.6
Western
SGRC0236
8
23
15
12.4
Western
SGRC0236 including
9
14
5
29.0
Western
SGRC0236
28
33
5
2.1
Western
SGRC0237
8
15
7
2.0
Western
SGRC0237
21
31
10
6.7
Western
SGRC0237 including
26
27
1
21.2
Western
SGRC0237
33
36
3
1.3
Western
SGRC0239
13
15
2
2.3
Mason Bay
SGRC0239
49
54
5
8.5
Mason Bay
SGRC0239
77
85
8
10.2
Mason Bay
SGRC0239
92
97
5
4.6
Mason Bay
SGRC0240
33
38
5
5.3
Mason Bay
SGRC0240
41
45
4
3.6
Mason Bay
SGRC0240
47
58
11
11.7
Mason Bay
SGRC0240 including
53
55
2
21.9
Mason Bay
SGRC0240
63
76
13
6.4
Mason Bay
SGRC0240 including
64
66
2
21.0
Mason Bay
SGRC0240
95
100
5
8.5
Mason Bay
SGRC0241
17
31
14
7.8
Mason Bay
SGRC0241 including
18
19
1
21.2
Mason Bay
SGRC0241
39
43
4
9.2
Mason Bay
SGRC0241
50
51
1
1.8
Mason Bay
SGRC0241
61
73
12
11.6
Mason Bay
SGRC0241 including
66
68
2
20.0
Mason Bay
SGRC0241
75
77
2
4.4
Mason Bay
SGRC0242
21
35
14
9.6
Mason Bay
SGRC0242 including
22
23
1
21.7
Mason Bay
SGRC0242
62
65
3
4.5
Mason Bay
SGRC0242
70
76
6
4.8
Mason Bay
SGRC0243
32
45
13
7.7
Mason Bay
SGRC0243 including
33
34
1
23.7
Mason Bay
SGRC0243
69
75
6
3.6
Mason Bay
SGRC0243
77
81
4
1.3
Mason Bay
SGRC0244
36
41
5
6.4
Mason Bay
SGRC0244
62
64
2
5.8
Mason Bay
SGRC0244
79
84
5
4.6
Mason Bay
SGRC0245
15
25
10
8.6
Mason Bay
SGRC0245
27
31
4
1.8
Mason Bay
SGRC0245
33
37
4
5.2
Mason Bay
SGRC0245
41
42
1
1.3
Mason Bay
SGRC0245
56
59
3
3.7
Mason Bay
SGRC0245
62
66
4
4.8
Mason Bay
SGRC0246
10
21
11
3.3
Mason Bay
SGRC0246
32
47
15
9.6
Mason Bay
SGRC0246
64
83
19
9.3
Mason Bay
SGRC0246
87
99
12
3.5
Mason Bay
SGRC0247
22
46
24
4.2
Mason Bay
SGRC0247
48
49
1
1.0
Mason Bay
SGRC0248
16
38
22
4.2
Mason Bay
SGRC0248
40
41
1
1.4
Mason Bay
SGRC0248
54
55
1
1.2
Mason Bay
SGRC0248
58
59
1
1.4
Mason Bay
SGRC0249
18
35
17
2.5
Mason Bay
SGRC0249
57
58
1
1.2
Mason Bay
SGRC0250
30
34
4
3.4
Mason Bay
SGRC0250
40
48
8
13.2
Mason Bay
SGRC0250
60
95
35
10.3
Mason Bay
SGRC0251
12
30
18
10.0
Mason Bay
SGRC0251 including
22
25
3
29.5
Mason Bay
SGRC0252
9
18
9
3.0
Mason Bay
SGRC0252
23
26
3
4.2
Mason Bay
SGRC0252
28
29
1
2.2
Mason Bay
SGRC0252
74
78
4
3.6
Mason Bay
SGRC0253
12
17
5
3.8
Mason Bay
SGRC0253
28
37
9
2.9
Mason Bay
SGRC0253
48
53
5
2.1
Mason Bay
SGRC0253 including
50
52
2
23.8
Mason Bay
SGRC0253
59
75
16
6.9
Mason Bay
SGRC0254
22
26
4
6.6
Mason Bay
SGRC0254
49
55
6
13.3
Mason Bay
SGRC0254
75
79
4
4.2
Mason Bay
SGRC0254
87
92
5
2.9
Mason Bay
SGRC0255
17
31
14
5.1
Mason Bay
SGRC0255
42
44
2
5.0
Mason Bay
SGRC0255
80
82
2
4.2
Mason Bay
SGRC0256
18
21
3
2.9
Mason Bay
SGRC0256
26
34
8
6.7
Mason Bay
SGRC0256
36
39
3
1.1
Mason Bay
SGRC0257
28
41
13
4.5
Mason Bay
SGRC0257
46
47
1
1.6
Mason Bay
SGRC0258
13
14
1
1.1
Mason Bay
SGRC0258
20
21
1
1.5
Mason Bay
SGRC0258
48
52
4
1.3
Mason Bay
SGRC0259
17
19
2
6.3
Mason Bay
Note: Intercepts widths are downhole, calculated with a minimum of 1 metre of internal waste using a 1% TGC cut-off. Including intercepts widths are downhole, calculated with a minimum of 1 metre of internal waste using a 20% TGC cut-off.
Table 3: Springdale Graphite Existing Mineral Resource Estimate Summary (JORC 2012)
Domain
Tonnes (Mt)
Density (t/m3)
Graphite (TGC%)
Classification
High-grade
2.6
2.1
17.5
Inferred
Low grade
13.0
2.2
3.7
Inferred
Total
15.6
2.2
6.0
Inferred
This announcement has been authorised for release by the Board of International Graphite Limited.
Andrew Worland
Managing Director CEO
Competent Persons Statement
The information in this announcement which relates to exploration targets, exploration results or mineral resources is based on information compiled by Mr. Darren Sparks. Mr. Sparks is the Principal Consultant and fulltime employee of OMNI GeoX Pty Ltd. He is a member of the Australian Institute of Geoscientists (“AIG”). Mr. Sparks has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (the JORC Code). Mr. Sparks consents to the inclusion of the information in this announcement in the form and context in which it appears.
The Competent Person confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and, in the case of estimates of Mineral Resources, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.
About International Graphite
International Graphite is an emerging supplier of processed graphite products, including battery anode material, for the global electric vehicle and renewable energy markets. The Company is developing a sovereign Australian ‘mine to market’ capability, with integrated operations wholly located in Western Australia. The Company intends to build on Australia’s reputation for technical excellence and outstanding ESG performance with future mining and 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 (ASX: IG6) and Tradegate and Frankfurt Stock Exchange (FWB: H99, WKN: A3DJY5) and is a member of the European Battery Alliance (EBA250) and European Raw Minerals Alliance (ERMA).
For more information please contact:
Robert Hodby
CFO/Company Secretary
+61 407 770 183
Marie Howarth
Media and Communication
+61 412 111 962
[i] All metres and TGC are rounded to 1 decimal point.