More High-Grade Graphite At Mason Bay, Springdale Graphite Project

International Graphite Limited (ASX: IG6) (International Graphite or the Company) Managing Director and CEO Andrew Worland said: “The latest assay results from Mason Bay continue to excite us. It’s clear that the more we drill following the AEM image (refer Figure 2) the more graphite we can expect to find.

HIGHLIGHTS

• Assays received for next 24 reverse circulation (RC) drill holes at the Mason Bay exploration target - ~2km east of the existing Springdale Graphite Project mineral resource.
  
• Standout results¹ include:
  
  • 11m @ 11.7% Total Graphitic Carbon (“TGC”) from 57m downhole including 1m @ 23.0% TGC from 63m downhole (SGRC0086).
  • 9m @ 5.0% TGC from 42m downhole including 1m @ 21.3% TGC from 43m downhole (SGRC0090).
  • 24m @ 7.2% TGC from 72m downhole (SGRC0093).
  • 23m @ 8.7% TGC from 77m downhole (SGRC0094).
  • 12m @ 12.6% TGC from 41m downhole including 1m @ 20.7% TGC from 43m downhole (SGRC0096).
  • 9m @ 10.3% TGC from 43m downhole (SGRC0097)
  • 6m @ 20.7% TGC from 14m downhole including 4m @ 25.9% TGC from 15m downhole (SGRC0098).
  • 11m @ 18% TGC from 28m downhole including 4m @ 23.9% TGC from 29m downhole (SGRC0098).
  • 7m @ 9.4% TGC from 12m downhole (SGRC0104).
  • 18m @ 6.6% TGC from 34m downhole (SGRC0106).
  • 25m @ 11.4% TGC from 68m downhole (SGRC0106).
• A total of 5,056m drilled at Mason Bay, average hole depth 84m.
• Results from 39 of 60 RC holes at Mason Bay now received.
• Mason Bay is the fourth discovery at the Springdale Graphite Project and one of seven high priority exploration targets identified by AEM survey.
• 20,465m drilled at Springdale since June 2022 including 12 diamond and 261 RC infill and exploration holes.
• Assays for the balance of the resource and exploration drilling program are due to be received by mid-July with a new resource estimate to be published soon after.

As reported in February 2023², flotation tests on sample composites from Mason Bay produced high grade graphite concentrate at excellent recoveries with ‘fines’ size highly amendable to micronising.

We expect future drilling will continue adding to the Springdale resource base. Areas, comparable in size to the existing identified mineral resource, remain to be investigated.

The continued exploration success at Springdale gives us great confidence that sufficient mineral resource will be available across our tenement package to host a long life mine and support our integrated mine-to-market graphite operation in Western Australia.”

Drill collar data from drilling with assay results is shown below in Table 1 and significant intercepts are shown in Table 2. Figures 3-5 show graphite mineralisation in cross section from the areas highlighted in Figure 2.

Figure 1: Location of International Graphite projects

Click here for the full ASX Release

This article includes content from International Graphite, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.