- International Graphite (IG6) confirms its third high-grade discovery at the Springdale graphite project in WA
- Assay results from ten reverse circulation holes totalling 973 metres showed multiple zones of shallow high-grade graphite mineralisation 500 metres south of the existing mineral resource
- The drilling aims to upgrade the existing Springdale mineral resource estimate from the inferred to indicated category
- Shares in International Graphite last traded at 24 cents at 2:15 pm AEDT
International Graphite (IG6) has confirmed its third high-grade discovery at the Springdale graphite project in Western Australia.
Assay results from ten reverse circulation (RC) holes totalling 973 metres showed multiple zones of shallow high grade graphite mineralisation 500 metres south of the existing mineral resource.
Best results from the program included four metres at 10.6 per cent total graphitic carbon (TGC) from 15 metres downhole, and four metres at 9.6 per cent TGC from 70 metres downhole.
Managing Director and CEO Andrew Worland said the discovery demonstrates the pathfinding ability of the airborne electromagnetic geophysical survey undertaken.
“Large parcels of our ground holding show significant anomalies and represent excellent further targets for exploration drilling,” Mr Worland said.
“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.”
The drilling aims to upgrade the existing Springdale mineral resource estimate (MRE) from the inferred to indicated category.
Further, the company aims to expand the mineral resource inventory through exploration drilling in areas highlighted by an airborne electromagnetic geophysical survey undertaken in 2019.
Visual graphite mineralisation was identified back in December 2022, with assays for that drilling expected to be received by February.
Shares in International Graphite last traded at 24 cents at 2:15 pm AEDT.