Final Assays Top Up A Sensational 2022-23 Drilling Result From Springdale Graphite Project

International Graphite (ASX: IG6) has released final assay results from its highly successful 2022/2023 drilling campaign at the Springdale Graphite Project.

HIGHLIGHTS

• Final drill results top up a strong 2022-2023 drilling campaign paving the way for a new Mineral Resource estimate.
• Standout assays1 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.

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.

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