International Graphite: Fourth high grade graphite discovery at Springdale Graphite Project – ‘Mason Bay’
12 April 2023
HIGHLIGHTS
- Assays for 15 reverse circulation (RC) drill holes show strong graphite results from a previously undrilled exploration target Mason Bay (formerly SDE_1) located ~2km east of the existing Springdale Mineral Resource (refer Figure 1 and Table 3).
- Flotation work on samples from Mason Bay show 95%+ graphite concentrate and recoveries exceeding 93%.
- A total of 60 RC holes completed at Mason Bay for ~5,056m. Average hole depth 84m.
- Standout assay results[i] for the first 15 holes assayed include:
15m @ 11.3% Total Graphitic Carbon (“TGC”) from 38m downhole (SGRC0075). 16m @ 11.7% TGC from 13m downhole (SGRC0076). 6m @ 13.3% TGC from 31m downhole (SGRC0076). 19m @ 8.4% TGC from 55m downhole (SGRC0076). 9m @ 17.3% TGC from 33m downhole including 4m @ 29.3% TGC from 34m downhole (SGRC0077). 5m @ 9.7% TGC from 82m downhole (SGRC0077). 2m @ 9.2% TGC from 59m downhole (SGRC0078).
- Drilling has now been completed with a total of 12 diamond and 261 RC infill and exploration holes drilled since June 2022 for ~20,465m.
International Graphite Managing Director and CEO Andrew Worland said: “Mason Bay is our fourth discovery since we started drilling at Springdale in mid-2022. The fact that it is so close - only 2km east of the existing Springdale mineral resource - makes it particularly exciting.
“Initial flotation tests on samples from Mason Bay drilling[ii] demonstrate that it is ideal for producing high grade graphite concentrate with excellent recoveries.
“This reinforces our confidence that Springdale, including Mason Bay, has all the attributes necessary for a highly competitive concentrate operation -- consistent, shallow mineralisation, with high grade graphite zones and outstanding flotation characteristics.
“We expect to revise the mineral resource estimate for the Springdale Graphite Project as soon as we have the remaining assays for both Springdale and Mason Bay.
“We also see significant opportunity for more graphite discoveries at Springdale in the future. Anomalies to the north of the existing mineral resource (see Figure 2) cover an area similar in size and are yet to be tested.”
Figure 1: Location of International Graphite projects
International Graphite Limited (ASX: IG6) (IG or the Company) has received assays for the first 15 reverse circulation (RC) drill holes at the previously undrilled exploration target Mason Bay (formerly known as SDE_1) approximately 2km east of the existing Springdale Mineral Resource (see Figure 2).
Figure 2: Airborne electromagnetic survey (AEM) image showing conductive material in relation to resource areas and new targets at the Springdale Graphite Project
The drilling program at Mason Bay consists of 60 RC drill holes for approximately 5,056 metres. It is one of seven high priority exploration targets identified by the airborne electromagnetic (AEM) survey.
Drill collar data is shown in Table 1 with significant intercepts from the 15 drill holes shown in Table 2. Cross section one (Figure 4) shows high grade intercepts from holes SGRC0075, SGRC0076, SGRC0077 and SGRC0078. Figure 3 shows RC chips from SGRC0077.
Figure 3: RC chips from SGRC0077, 33-42m, 9m @ 17.27%, including 4m @ 29.33%
In February 2023, the Company released results from flotation tests conducted on sample composites from drill hole SGRC 0098 taken from 14-20m at Mason Bay. The sample head grade was 20.5% TGC.
The flotation tests results showed that:
- Graphite concentrates of >97% TGC could be produced using conventional flotation. The results exceed the typical benchmark of 95% TGC.
- The flotation concentrate exhibited consistent grade distribution within size fractions.
- The concentrates produced were “fine”, at less than 75 micron, and considered to be highly amenable to micronising. Micronised graphite is widely used in industrial applications as well as being the first step in downstream processing of battery anode material.
- Impurities were low with silica 1.0%.
These laboratory results were consistent with previous metallurgical testwork on samples taken from within the existing Springdale mineral resource estimate.
Figure 4: Cross-section showing the multiple graphite zones intersected
Figure 5: Drilling at Springdale
Table 1: Drill Collar Data for this release at Mason Bay area (GDA94 MGAz51)
Drilled Hole ID
Easting
Northing
RL
DIP
Azimuth
EOH (m)
Type
SGRC0071
260785
6247568
20
-60
90.00
82
RC
SGRC0072
260705
6247568
20
-60
90.00
76
RC
SGRC0073
260625
6247568
20
-60
90.00
76
RC
SGRC0074
260545
6247568
20
-60
90.00
76
RC
SGRC0075
260785
6247408
20
-60
90.00
76
RC
SGRC0076
260705
6247408
20
-60
90.00
82
RC
SGRC0077
260625
6247408
20
-60
90.00
94
RC
SGRC0078
260545
6247408
20
-60
90.00
76
RC
SGRC0079
260625
6247258
20
-60
90.00
76
RC
SGRC0080
260705
6247258
20
-60
90.00
76
RC
SGRC0081
260785
6247258
20
-60
90.00
118
RC
SGRC0082
260625
6247108
20
-60
90.00
82
RC
SGRC0083
260545
6247108
20
-60
90.00
46
RC
SGRC0083A
260545
6247108
20
-60
90.00
16
RC
SGRC0084
260785
6247333
20
-60
90.00
106
RC
Table 2: Significant graphite intervals
Drilled Holes ID
From (m)
To (m)
Interval (m)
Average Grade (%TGC)
Location
SGRC0071
13
16
3
1.6
Mason Bay
SGRC0071
18
20
4
10.6
Mason Bay
SGRC0072
8
14
6
2.4
Mason Bay
SGRC0072
16
18
2
1.7
Mason Bay
SGRC0072
24
25
1
1.2
Mason Bay
SGRC0072
27
29
2
1.2
Mason Bay
SGRC0073
6
24
18
4.3
Mason Bay
SGRC0073
26
27
1
2.0
Mason Bay
SGRC0074
46
47
1
1.2
Mason Bay
SGRC0075
11
19
8
3.7
Mason Bay
SGRC0075
38
53
15
11.3
Mason Bay
SGRC0076
13
29
16
11.7
Mason Bay
SGRC0076
31
37
6
13.3
Mason Bay
SGRC0076
55
74
19
8.4
Mason Bay
SGRC0077
33
42
9
17.3
Mason Bay
Includes SGRC0077
34
38
4
29.3
Mason Bay
SGRC0077
82
87
5
9.7
Mason Bay
SGRC0078
19
23
4
4.3
Mason Bay
SGRC0078
29
30
1
2.1
Mason Bay
SGRC0078
59
61
2
9.2
Mason Bay
SGRC0081
33
34
1
1.7
Mason Bay
SGRC0081
37
38
1
1.7
Mason Bay
SGRC0081
87
102
15
3.1
Mason Bay
SGRC0082
26
28
2
6.1
Mason Bay
SGRC0082
31
35
4
6.5
Mason Bay
SGRC0082
55
68
13
5.6
Mason Bay
SGRC0082
71
72
1
1.3
Mason Bay
SGRC0082
75
76
1
1.6
Mason Bay
SGRC0084
6
18
12
5.4
Mason Bay
SGRC0084
61
69
8
1.8
Mason Bay
SGRC0084
71
76
5
3.2
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 Project 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.
The information in this document that relates to metallurgical test work managed by Battery Limits Pty Ltd (BL) is based on, and fairly represents, information and supporting documentation reviewed by Mr David Pass, who is a Member of The Australasian Institute of Mining and Metallurgy (AusIMM). Mr Pass is a fulltime employee of BL, who has been engaged by International Graphite Ltd to provide metallurgical consulting services. Mr Pass has approved and consented to the inclusion in this document of the matters based on his information in the form and context in which it appears.
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
robert.hodby@internationalgraphite.com.au
+61 407 770 183
Marie Howarth
Media and Communication
marie.howarth@internationalgraphite.com.au
+61 412 111 962
Link to English original news:
[i] All metres and TGC are rounded to 1 decimal point.
[ii] Refer ASX release dated 21 February 2023.