International Graphite confirms third high grade discovery at Springdale Graphite Project – ‘Springdale South’
HIGHLIGHTS
- Assay results from ten RC holes (973m) show multiple zones of shallow high grade graphite mineralisation 500m south of the existing mineral resource at the Springdale Graphite Project – the area has been named ‘Springdale South’.
- Standout results[1] include
4.0m @ 10.6% Total Graphitic Carbon (“TGC”) from 15m downhole (SGRC0061). 4.0m @ 9.6% TGC from 70m downhole (SGRC0062). 5.0m @ 17.0% TCG from 104.0m downhole, including 3.0m @ 22.1% TGC from 105.0m downhole (SGRC0062) at Springdale South. 2.0m @ 10.1% TGC from 39m downhole (SGRC0063). 3.0m @ 11.6% TGC from 43m downhole (SGRC0063). 7.0m @ 14.6% TGC from 74m downhole including 3.0m @ 27.1% TGC from 75m downhole (SGRC0063). 4.0m @ 9.4% TGC from 43m downhole, including 1.0m @ 33.4% TGC from 44.0m downhole (SGRC0064). 6.0m @ 7.6% TGC from 69m downhole, including 1.0m @ 21.3% TGC from 71.0m downhole (SGRC0064). 20.0m @ 11.9% TGC from 64.0m downhole including 3.0m @ 20.3% TGC from 71m downhole and 1.0m @ 20.1% TGC from 76m downhole (SGRC0067).
- 39 RC drill holes at exploration target SDE_1 have been completed and assays are pending.
20 January 2023 - Commenting on the results, Managing Director and CEO Andrew Worland said: “Springdale South is the third graphite discovery made by our exploration team and demonstrates yet again the pathfinding ability of the airborne electromagnetic geophysical survey that was undertaken over a portion of our tenements at Springdale. Large parcels of our ground holding show significant anomalies and represent excellent further targets for exploration drilling. The success of our exploration to date and the likelihood of being able to replicate it at the sites of these untested anomalies gives us great confidence that we can significantly expand the Springdale mineral resource base over time with targeted drilling.”
Springdale Drilling Program
International Graphite Limited (ASX:IG6) is pleased to announce the results of a further 10 reverse circulation (RC) exploration holes from drilling at the Springdale Graphite Project (“Springdale” or the “Project”), near Hopetoun and 25km south of Ravensthorpe in Western Australia (Figure 1).
Figure 1: Location of International Graphite Projects.
Over 6,000 metres of mineral resource and exploration drilling have been completed at Springdale since June 2022. The drilling aims to upgrade the existing Springdale Mineral Resource Estimate from inferred to indicated status (currently 15.6Mt @ 6.0% TGC, including a high-grade component of 2.6Mt @ 17.5% TGC - refer Figure 2 and Table 3). It also aims to expand the mineral resource inventory through exploration drilling in areas highlighted by an airborne electromagnetic geophysical (“AEM”) survey undertaken in 2019.
The ten RC holes outlined in this release target anomalies to the south of the Springdale Mineral Resource. Figure 2 shows the area which is identified as ‘Springdale South’. Figures 3-5 show significant assay results in cross section. Table 1 and Table 2 detail the locations of the drill holes and significant assay results. All drilling undertaken at Springdale continues to be shallow to a maximum of 100-125 metres with all holes remaining open at depth.
Springdale South is the third discovery from International Graphite’s drilling, following identification of Springdale Far West and Springdale Central in September and October 2022 respectively.
A further 39 RC drill holes have now been completed at exploration target SDE_1 (refer Figure 2). Visual graphite mineralisation was identified in December 2022 and assays for that drilling are expected to be received in February.
Figure 2: AEM survey image showing conductive material in relation to resource areas and new targets.
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.
Table 1: Drill Collar Data for this release (GDA94 MGAz51)
Drilled Hole ID
Easting
Northing
RL
DIP
Azimuth
EOH (m)
Type
Location
SGRC0061
256618
6245849
32
-60
305
78
RC
Springdale South
SGRC0062
256695
6245796
31
-60
305
121
RC
Springdale South
SGRC0063
256494
6245740
33
-60
305
84
RC
Springdale South
SGRC0064
256525
6245717
34
-60
305
84
RC
Springdale South
SGRC0065
257369
6243934
16
-90
0
42
RC
Springdale South
SGRC0066
256662
6244086
22
-60
305
78
RC
Springdale South
SGRC0067
256579
6244104
20
-60
305
90
RC
Springdale South
SGRC0068
256506
6244133
18
-60
305
78
RC
Springdale South
SGRC0069
256429
6244160
14
-60
305
78
RC
Springdale South
SGRC0070
256736
6244070
24
-60
305
78
RC
Springdale South
Table 2: Significant Graphite Intervals
Drilled Holes ID
From (m)
To (m)
Interval (m)
Average Grade (%TGC)
Location
SGRC0061
10
11
1
3.3
Springdale South
SGRC0061
15
19
4
10.6
Springdale South
SGRC0061
22
25
3
6.2
Springdale South
SGRC0061
31
36
5
3.9
Springdale South
SGRC0062
61
64
3
2.8
Springdale South
SGRC0062
70
74
4
9.6
Springdale South
SGRC0062
79
80
1
2.0
Springdale South
SGRC0062
85
89
4
3.6
Springdale South
SGRC0062
93
100
7
7.1
Springdale South
includes SGRC0062
94
95
1
20.4
Springdale South
SGRC0062
104
109
5
17.0
Springdale South
includes SGRC0062
105
108
3
22.1
Springdale South
SGRC0062
113
115
2
2.1
Springdale South
SGRC0063
9
18
9
6.3
Springdale South
SGRC0063
21
22
1
2.3
Springdale South
SGRC0063
39
41
2
10.0
Springdale South
SGRC0063
43
46
3
11.6
Springdale South
SGRC0063
48
49
1
1.2
Springdale South
SGRC0063
74
81
7
14.6
Springdale South
includes SGRC0063
75
78
3
27.1
Springdale South
SGRC0064
38
41
3
2.3
Springdale South
SGRC0064
43
47
4
9.4
Springdale South
includes SGRC0064
44
45
1
33.4
Springdale South
SGRC0064
53
54
1
3.2
Springdale South
SGRC0064
69
75
6
7.6
Springdale South
includes SGRC0064
71
72
1
21.3
Springdale South
SGRC0064
78
79
1
5.5
Springdale South
SGRC0066
28
37
9
2.1
Springdale South
SGRC0066
40
41
1
1.2
Springdale South
SGRC0066
47
59
12
1.9
Springdale South
SGRC0066
62
66
4
2.3
Springdale South
SGRC0067
47
48
1
1.3
Springdale South
SGRC0067
55
60
5
1.7
Springdale South
SGRC0067
64
84
20
11.9
Springdale South
includes SGRC0067
71
74
3
20.3
Springdale South
includes SGRC0067
76
77
1
20.1
Springdale South
SGRC0070
23
24
1
7.9
Springdale South
SGRC0070
28
29
1
2.3
Springdale South
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 Mineral Resource Estimate Summary (JORC 2012)[2]
Domain
Tonnes (Mt)
Density (tm3)
Graphite (TGC%)
Classification
High grade
2.6
2.1
17.5
Inferred
Low grade
13.0
2.2
3.7
Inferred
Total
16.5
2.2
6.0
Inferred
This announcement has been authorised for release by the Board of Directors 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).
The full original press release in English can be found here: https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02622770-6A1132476?access_token=83ff96335c2d45a094df02a206a39ff4
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
[1] All metres and TGC are rounded to 1 decimal point.
[2] Refer to the Company’s Prospectus dated 21 February 2022 as updated by the Supplementary Prospectus dated 4 March 2022 for further details regarding the Mineral Resource Estimate, including the Independent Technical Assessment Report prepared in respect of the Springdale Graphite Project