International Graphite Confirms Third High Grade Discovery At Springdale Graphite Project – ‘Springdale South’

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).

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 results¹ 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.

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

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.

Click here for the full ASX Release

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