Spectacular Assay Results From The Second Of Four New Graphite Discoveries At Springdale

Further high grade assays have been received from drilling at International Graphite Limited’s (ASX: IG6) Springdale Central new discovery at the Company’s 100% owned Springdale Graphite Project, in Western Australia.

HIGHLIGHTS

• Assays received for 44 of 47 reverse circulation (RC) drill holes for the new discovery at the Springdale Central exploration target – located immediately adjacent to the existing Springdale Graphite Project JORC mineral resource.
• Standout results¹ include:
  • 12m @ 11.6% TGC from 51m downhole including 3m @ 25.6% from 53m downhole (SGRC0141).
  • 8m @ 11.4% TGC from 57m downhole including 3m @ 22.0% from 60m downhole (SGRC0143).
  • 10m @ 20.9% TGC from 48m downhole including 7m @ 23.9% TGC from 49m downhole (SGRC0162).
  • 13m @ 12.5% TGC from 61m downhole including 5m @ 24.22% TGC from 66m downhole (SGRC0164).
  • 6m @ 15.6% TGC from 46m downhole including 3m @ 24.8% TGC from 47m downhole (SGRC0170).
  • 12m @ 22.6% TGC from 59m downhole including 10m @ 24.6% TGC from 59m downhole (SGRC0170).
  • 6m @ 14.4% TGC from 68m downhole including 3m @ 19.8% TGC from 69m downhole (SGRC0180).
  • 18m @ 12.2% TGC from 81m downhole including 3m @ 20.8% TGC from 82m downhole (SGRC0180).
  • 13m @ 10.8% TGC from 49m downhole including 3m @ 25.8% TGC from 52m downhole (SGRC0186).
  • 11m @ 14.0% TGC from 69m downhole including 3m @ 21.1% from 70m and 1m @ 20.9% TGC from 77m downhole (SGRC0190).
• ~3,700 metres of RC drilling at an average depth of ~84 metres.
• Springdale Central was the second discovery made during the 2022-2023 drilling campaign.
• Springdale Central zone is open in all directions.

¹ All metres are rounded to the nearest metre. TGC% is rounded to 1 decimal point.

Managing Director and CEO Andrew Worland said Springdale was developing as an important deposit to support Australia’s evolving battery minerals industry.

“It is fantastic that such a significant new find has been identified immediately adjacent to the existing Springdale mineral resource,” Mr Worland said.

“This latest evidence adds to the impressive results we have already seen from Mason Bay, just east of the existing mineral resource, which was another new discovery from this drilling program.

“Over 10,000m of drilling has been completed at Central and Mason Bay alone and covers an area that is approximately half the size of the area of the existing Springdale JORC mineral resource. Extensive areas of additional exploration targets remain untested at Mason Bay and elsewhere within the Springdale tenements and are earmarked for future exploration activities.

“Our successful exploration program in the past year is demonstrating Springdale is presenting the potential to host a deposit of industry significance. This is a key link in our strategy to build Western Australia’s first mine-to-market supply of battery anode graphite.”

Drill collar data from drilling with assay results is shown below in Table 1 with significant intercepts shown in Table 2. Cross sections 1-3 show graphite mineralisation from the areas highlighted in Figure 2.

Figure 1: Location of International Graphite projects

Figure 2: Airborne electromagnetic survey (AEM) image showing conductive material in relation to resource areas and new targets at the Springdale Graphite Project.

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