Springdale Continues to Build with Further Spectacular Diamond Drilling Assays

International Graphite Limited (ASX: IG6) has received further spectacular graphite assays from six diamond holes at the Springdale Central deposit – part of the Company’s 100% owned Springdale Graphite Project near Hopetoun-Ravensthorpe on the south coast of Western Australia (Figure 1).

HIGHLIGHTS

• Another set of spectacular assay results from diamond drilling at the Springdale Central deposit.
• Stand out graphite intercepts¹ include:
  • 11.1m @ 16.9% Total Graphitic Carbon (TGC) from 23.1m downhole (SGDD0021)
  • 13.4m @ 19.2% TGC from 35.3m downhole, including 2.9m @ 31.4% TGC from 38.8m downhole (SGDD0021)
  • 10.3m @ 36.3% TGC from 41.8m downhole (SGDD0022)
  • 3.8m @ 21.3% TGC from 17.2m downhole, including 3.1m @ 25.5% TGC from 17.9m downhole (SGDD0017)
  • 9.7m @ 6.2% TGC from 75.8m downhole (SGDD0017)
  • 28.7m @ 12.1% TGC from 93.0m downhole, including 4.1m @ 23.3% TGC from 112.0m downhole (SGDD0019)

It follows outstanding results received last month² from the Springdale Mason Bay deposit.

A ten-hole PQ diamond drilling program was completed between May and July this year at the Mason Bay and Springdale Central deposits. The program focussed on geotechnical drilling, to inform mine planning and permitting, and to provide metallurgical data for concentrator plant process design.

Of the six holes drilled at Springdale Central, SGDD 22 - a twin of SGRC 18 - and SGDD 21 are located approximately in the centre of the Springdale Central and SGDD 17 and 19 were drilled at the northern end of Springdale Central. The results continue to confirm the continuity of mineralisation along strike, the grade and overall veracity of the mineral resource. SGDD 18 and 20 were drilled for geotechnical purposes in the proposed pit walls of Springdale Central.

Managing Director and CEO Andrew Worland said, “We have said it before, but it bears repeating, it is clear to us that a spectacular graphite deposit is continuing to reveal itself at Springdale. The more we drill at Springdale the more high grade, thick, near surface intercepts of graphite mineralisation we find. So many of the key determinants for a low-cost mine are present: shallow overall deposit depth, limited drill and blast, good grades, oxidised material for processing, single product lines – and all in a tier one mining jurisdiction. On top of all the positive attributes, the exploration potential for future mineral resource growth is clear to see.”

Figure 1: Location of International Graphite projects, in Western Australia

Figure 2 shows the location and significant intercepts of the six diamond holes at Central. Results are detailed in Tables 1 and 2.

Figure 2: Springdale Central Cross-section showing multiple graphite zones intersected for SGDD0017 and SGDD0019

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