International Graphite Limited: More exceptional Mineral Resource definition drilling results from Springdale Graphite Project

HIGHLIGHTS

-          Assays received for 74 (RC) drill holes within the existing Springdale Graphite Project Mineral Resource.

-          Standout results[i] include:

• 4m @ 17.2% Total Graphitic Carbon (“TGC”) from 53m downhole including 3m @ 20.5% TGC from 54m downhole (SGRC0113) (Eastern).
• 16m @ 4.9% TGC from 3m downhole (SGRC0122) (Eastern).
• 18m @ 13.0% TGC from 47m downhole including 1m @ 25.1% from 56m downhole and 4m @ 28.4% TGC from 59m downhole (SGRC0131) (Eastern).
• 7m @ 16.3% TGC from 58m downhole including 2m @ 26.0% from 58m downhole and 6m @ 12.6% TGC from 78m downhole including 2m @ 26.0% from 79m (SGRC0140) (Eastern).
• 16m @ 3.6% TGC from 4m downhole (SGRC0189) (Western).
• 13m @ 3.5% TGC from 16m downhole (SGRC0201) (Western).
• 12m @ 11.4% TGC from 49m downhole including 4m @ 19.8% TGC from 55m downhole (SGRC0205) (Western).
• 13m @ 9.6% TGC from 21m downhole including 1m @ 21.2% TGC from 31m downhole (SGRC0208) (Eastern).
• 25m @ 3.7% TGC from 10m downhole (SGRC0221) (Western).
• 16m @ 7.0% TGC from 38m downhole including 1m @ 21.0% TGC from 41m downhole (SGRC0222) (Western).
• 27m @ 3.4% TGC from 5m downhole (SGRC0224) (Western).
• 15m @ 6.8% TGC from 8m downhole (SGRC0226) (Western).
• 17m @ 6.0% TGC from 16m downhole (SGRC0227) (Western).

-          ~5,150 metres of RC drilling at an average depth of ~70 metres

International Graphite Limited (ASX: IG6) has revealed more significant assay results from

74 RC drill holes completed within the existing Mineral Resource at the Springdale Graphite Project.

The Company expects to release a revised Mineral Resource estimate for Springdale in coming weeks, once final assays have been received. Approximately 273 drill holes were completed during the 2022/2023 drilling campaign with assays for a dozen holes still outstanding.

Managing Director and CEO Andrew Worland said, “These drill holes provide additional data that will be used to upgrade confidence in the existing Springdale Mineral Resource estimate from inferred to indicated status. We have completed some 9-10,000 metres of infill drilling at the existing Springdale Mineral Resource over the past 12 months. This more than doubles the drill data base that supports the existing Mineral Resource estimate.”

Around 5,000 metres of drilling at the Springdale Central discovery, and 3,200 metres of drilling at the Mason Bay discovery (see Figure 2), will add further resource inventory to the revised Springdale Mineral Resource estimate, which as per above, is expected in the coming weeks.

Drill collar data with assay results is shown below in Table 1 and significant intercepts are shown in Table 2. Figures 3 and 4 show graphite mineralisation in cross section from the areas highlighted in Figure 2.

The current Mineral Resource estimate at Springdale is shown in Table 3.

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.

Figure 3: Cross-section 1 showing the multiple graphite zones intersected in the eastern zone.

Figure 4: Cross-section 2 showing the multiple graphite zones intersected in the western zone.

The entire press release can be found under the following link: https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02692840-6A1161338?access_token=83ff96335c2d45a094df02a206a39ff4

Table 3: Springdale Graphite Existing Mineral Resource Estimate Summary (JORC 2012)

This announcement has been authorised for release by the Board of International Graphite Limited.

Andrew Worland

Managing Director  

Competent Persons Statement

The information in this announcement which relates to exploration targets, exploration results or mineral resources is based on information compiled by Mr. Darren Sparks. Mr. Sparks is the Principal Consultant and fulltime employee of OMNI GeoX Pty Ltd. He is a member of the Australian Institute of Geoscientists (“AIG”). Mr. Sparks has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (the JORC Code). Mr. Sparks consents to the inclusion of the information in this announcement in the form and context in which it appears.

The Competent Person confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and, in the case of estimates of Mineral Resources, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.

About International Graphite

International Graphite is an emerging supplier of processed graphite products, including battery anode material, for the global electric vehicle and renewable energy markets. The Company is developing a sovereign Australian ‘mine to market’ capability, with integrated operations wholly located in Western Australia. The Company intends to build on Australia’s reputation for technical excellence and outstanding ESG performance with future mining and graphite concentrate production from its 100% owned Springdale Graphite Project and commercial scale downstream processing at Collie. International Graphite is listed on the Australian Securities Exchange (ASX: IG6) and Tradegate and Frankfurt Stock Exchange (FWB: H99, WKN: A3DJY5) and is a member of the European Battery Alliance (EBA250) and European Raw Minerals Alliance (ERMA).

For more information please contact:

Robert Hodby

CFO/Company Secretary

[email protected]

+61 407 770 183

Marie Howarth

Media and Communication

[email protected]

+61 412 111 962

[i] All metres and TGC are rounded to 1 decimal point.