International Graphite (ASX:IG6) says assays returned from four diamond drillholes reveal “enormous expansion potential” at the Springdale Graphite Project in Western Australia.
The latest assay results come after a 10-hole diamond drilling program that was completed between May and June 2024, at the Mason Bay and Springdale Central deposits.
Results include 11m @ 14.3% total graphitic carbon (TGC), including 1m @ 21.3% TGC and 3.1m @ 26.5% TGC; and 3.6m @ 22.1% TGC, including .2m @ 24.2% TGC.
International Graphite, which has a market capitalisation of $12.77 million, says the program focused on assisting to inform mine planning and permitting, as well as provide metallurgical data for concentrator plant process design.
CEO Andrew Worland says the more drilling at Springdale, the more graphite the company finds.
“The project is shaping as one of global significance to the high-growth lithium-ion battery markets and industrial and defence sectors,” Worland says.
“Springdale has enormous expansion potential. Only around 25% of the targets identified in previous aeromagnetic surveys have been drilled. We expect further exploration and infill drilling will add considerable mine life beyond that which was generated in our scoping studies.
“Mason Bay was a new discovery in 2023. Similar to the rest of Springdale, the graphite mineralisation is shallow and in oxide/weathered rock, which lends itself to low mining costs, as demonstrated in the Scoping Study we released in January.”
The drilling results from the Springdale Central deposit are expected to be returned within the coming weeks.
International Graphite is an emerging supplier of processed graphite products, including active anode materials for lithium-ion batteries in EVs, defence applications, and global energy transformation.
The company is currently developing a mine-to-market capability, with mining and graphite concentrate production from its wholly owned Springdale Project, and downstream processing at Collie, both in Western Australia.
Write to Aaliyah Rogan at Mining.com.au
Images: International Graphite
