International Graphite Limited: Exceptionally high grade assay results from infill drilling at Springdale Graphite Project
HIGHLIGHTS
New results received from 14 holes (912m) of RC infill drilling at Springdale. Highlights[1] include: 15m @ 13.4% Total Graphitic Carbon (TGC) from 36m downhole, including 3m @ 27.2% TGC from 38m downhole (SGRC0028) 11m @ 16.1% TGC from 32m downhole, including 5m @ 27.8% TGC from 33m downhole (SGRC0022) 8m @ 12% TGC from 22m downhole, including 3m @ 20.1% TGC from 24m downhole (SGRC0033) 32m @ 5.9% TGC from 31m downhole, including 1m @ 22.5% TGC from 52m downhole (SGRC0030) 19m @ 4.7% TGC from 5m downhole (SGRC0034) Assays support the current interpretation and potentially highlight a number of higher-grade domains within the broader mineralised system. Assay results from further drilling at Springdale are pending and will be released when received.
Commenting on the results, International Graphite (ASX:IG6) Executive Chairman Phil Hearse said, “The success of our exploration and infill drilling program gives us great confidence that we will establish a long-life mineral resource at Springdale.
“Drilling at Springdale continues to deliver outstanding graphite results and will assist in reclassification of the inferred mineral resources to indicated status.
“This is an important stage in the mine development cycle and a significant step in our vision to be self-sustaining and the first mine to market graphite producer wholly operating in Western Australia.”
Springdale Drilling Program
The latest results cover 14 holes (912m) of RC infill drilling at International Graphite’s Springdale Graphite Project, 25km south of Ravensthorpe, near Hopetoun, in Western Australia (Figure 1).
Figure 1: Location of International Graphite projects
A 7,100m RC and PQ/HQ diamond drilling program, comprising an expected 91 RC drillholes (~6,200m) and 12 diamond holes (~900m), was initiated in June 2022.
In part, the drilling campaign aims to upgrade the existing Springdale Mineral Resource Estimate from inferred to indicated status and to add to the resource inventory through drilling in areas highlighted by an airborne electromagnetic (“AEM”) geophysical survey previously undertaken (refer Table 3 for details of the existing JORC Mineral Resource Estimate).
A total of 39 RC (~2,668m) and 12 diamond holes (~962m) has been completed. To date, assay results have been received for 14 RC drill holes completed in the southern region of the existing Mineral Resource (Figure 2).
Figure 2: Airborne electromagnetic survey image showing conductive material in relation to resource areas and new targets.
Significant results from this drilling are shown in Table 2 and Figures 3 – 7)[2]. These include:
- 11m @ 16.1% Total Graphitic Carbon (TGC) from 32m downhole, including 5m @ 27.8% TGC from 33m downhole (SGRC0022)
- 12m @ 4.2% (TGC) from 56m downhole (SGRC0023)
- 9m @ 5.4% (TGC) from 23m downhole (SGRC0024)
- 7m @ 4.9% (TGC) from 25m downhole (SGRC0025)
- 15m @ 13.4% (TGC) from 36m downhole, including 3m @ 27.2% TGC from 38m downhole (SGRC0028)
- 32m @ 5.9% TGC from 31m downhole, including 1m @ 22.5% TGC from 52m downhole (SGRC0030)
- 10m @ 4.0% (TGC) from 35m downhole (SGRC0031)
- 13m @ 7.4% TGC from 41m downhole, including 2m @ 23.6% TGC from 44m downhole (SGRC0032)
- 8m @ 12% TGC from 22m downhole, including 3m @ 20.1% TGC from 24m downhole (SGRC0033)
- 19m @ 4.7% TGC from 5m downhole (SGRC0034)
Figure 3: Cross-section 1 showing the multiple graphite zones intersected.
Figure 4: Cross-section 2 showing the multiple graphite zones intersected.
Figure 5: Cross-section 3 showing the multiple graphite zones intersected.
Figure 6: Cross-section 4 showing the multiple graphite zones intersected.
Figure 7: Cross-section 5 showing the multiple graphite zones intersected
Figure 8: RC drill samples from SGRC0028 with graphite intersections highlighted
Table 1: Drill Collar Data for this release (GDA94 MGAz51)
Drilled Hole ID
Easting
Northing
RL
DIP
Azimuth
EOH (m)
Type
SGRC0022
258098.8
6246163
27.859
-60
305.00
66
RC
SGRC0023
258066.95
6246084.82
26.09
-60
305.00
78
RC
SGRC0024
258037.94
6246102.64
27.42
-60
305.00
60
RC
SGRC0025
258010.31
6246029.97
26.73
-60
305.00
54
RC
SGRC0026
258034.2
6246012.63
26.46
-60
305.00
78
RC
SGRC0027
257970.07
6245862.37
27.06
-60
305.00
42
RC
SGRC0028
257994.35
6245844.27
26.31
-60
305.00
60
RC
SGRC0029
258028.72
6245819.16
25
-60
305.00
90
RC
SGRC0030
257924.9
6245793.52
27.22
-60
305.00
72
RC
SGRC0031
257942.26
6245781.9
27.04
-60
305.00
60
RC
SGRC0032
257959.12
6245772.64
26.55
-60
305.00
72
RC
SGRC0033
257874.24
6245731.89
26.61
-60
305.00
48
RC
SGRC0034
257891.39
6245721.08
26.82
-60
305.00
60
RC
SGRC0035
257908.2
6245709.34
26.73
-60
305.00
72
RC
Table 2: Significant Graphite Intervals
Drilled Holes ID
From (m)
To (m)
Interval (m)
Average Grade (%TGC)
SGRC0022
8
11
3
8.63
SGRC0022
17
19
2
4.35
SGRC0022
29
30
1
1.2
SGRC0022
32
43
11
16.13
SGRC0022 including
33
38
5
27.82
SGRC0022
53
54
1
2.6
SGRC0023
31
32
1
1.7
SGRC0023
35
36
1
2.5
SGRC0023
53
54
1
1
SGRC0023
56
68
12
4.17
SGRC0024
3
7
4
3.98
SGRC0024
15
18
3
3.33
SGRC0024
20
21
1
4.6
SGRC0024
23
32
9
5.38
SGRC0024
42
44
2
2.55
SGRC0025
15
16
1
2
SGRC0025
19
23
4
3.08
SGRC0025
25
32
7
4.91
SGRC0025
34
39
5
3.7
SGRC0026
42
45
3
2.57
SGRC0026
50
52
2
5.75
SGRC0026
54
57
3
6.43
SGRC0027
5
6
1
4.6
SGRC0027
8
11
3
5.13
SGRC0027
13
15
2
3.35
SGRC0027
20
23
3
4.6
SGRC0027
39
41
2
2
SGRC0028
26
33
7
4.56
SGRC0028
36
51
15
13.38
SGRC0028 Including
38
41
3
27.17
SGRC0028 Including
44
45
1
23.8
SGRC0028 Including
48
49
1
22
SGRC0029
55
61
6
6.67
SGRC0029
66
67
1
3.6
SGRC0029
71
73
2
7.1
SGRC0029
76
77
1
9.8
SGRC0029
79
82
3
7.77
SGRC0030
3
4
1
1.4
SGRC0030
8
9
1
2.1
SGRC0030
26
29
3
2.7
SGRC0030
31
63
32
5.95
SGRC0030 including
52
53
1
22.5
SGRC0030
65
67
2
7.1
SGRC0030
70
72
2
5.7
SGRC0031
19
21
2
8.75
SGRC0031
23
24
1
1.1
SGRC0031
26
30
4
7.1
SGRC0031
35
45
10
4.05
SGRC0032
41
54
13
7.43
SGRC0032 including
44
46
2
23.65
SGRC0033
22
30
8
12.03
SGRC0033 including
24
27
3
20.1
SGRC0033
32
44
12
3.49
SGRC0034
5
24
19
4.68
SGRC0034
26
29
3
1.4
SGRC0034
34
40
6
9.37
SGRC0034 including
39
40
1
21.8
SGRC0035
33
34
1
2.5
SGRC0035
37
39
2
4.85
SGRC0035
47
49
2
4.75
SGRC0035
52
54
2
10.5
SGRC0035
60
63
3
6.47
SGRC0035
65
66
1
1
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 Directors of International Graphite Limited.
Phil Hearse
Executive Chairman
For more information please contact:
Robert Hodby
CFO/Company Secretary
robert.hodby@internationalgraphite.com.au
+61 407 770 183
Marie Howarth
Media & Communication
marie.howarth@internationalgraphite.com.au
+61 412 111 962
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 and reviewed by Mr. Peter Langworthy. 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 and Mr. Langworthy have 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 and Mr. Langworthy 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).
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1Rounded to 1 decimal point.
2 Additional information relating to the drilling program is detailed in the JORC Table 1 in Appendix 1