International Graphite - More high-grade graphite at Mason Bay, Springdale Graphite Project
8 June 2023
HIGHLIGHTS
- Assays received for next 24 reverse circulation (RC) drill holes at the Mason Bay exploration target - ~2km east of the existing Springdale Graphite Project mineral resource.
- Standout results[i] include:
- 11m @ 11.7% Total Graphitic Carbon (“TGC”) from 57m downhole including 1m @ 23.0% TGC from 63m downhole (SGRC0086).
- 9m @ 5.0% TGC from 42m downhole including 1m @ 21.3% TGC from 43m downhole (SGRC0090).
- 24m @ 7.2% TGC from 72m downhole (SGRC0093).
- 23m @ 8.7% TGC from 77m downhole (SGRC0094).
- 12m @ 12.6% TGC from 41m downhole including 1m @ 20.7% TGC from 43m downhole (SGRC0096).
- 9m @ 10.3% TGC from 43m downhole (SGRC0097)
- 6m @ 20.7% TGC from 14m downhole including 4m @ 25.9% TGC from 15m downhole (SGRC0098).
- 11m @ 18% TGC from 28m downhole including 4m @ 23.9% TGC from 29m downhole (SGRC0098).
- 7m @ 9.4% TGC from 12m downhole (SGRC0104).
- 18m @ 6.6% TGC from 34m downhole (SGRC0106).
- 25m @ 11.4% TGC from 68m downhole (SGRC0106).
- A total of 5,056m drilled at Mason Bay, average hole depth 84m.
- Results from 39 of 60 RC holes at Mason Bay now received.
- Mason Bay is the fourth discovery at the Springdale Graphite Project and one of seven high priority exploration targets identified by AEM survey.
- 20,465m drilled at Springdale since June 2022 including 12 diamond and 261 RC infill and exploration holes.
- Assays for the balance of the resource and exploration drilling program are due to be received by mid-July with a new resource estimate to be published soon after.
International Graphite Managing Director and CEO Andrew Worland said: “The latest assay results from Mason Bay continue to excite us. It’s clear that the more we drill following the AEM image (refer Figure 2) the more graphite we can expect to find.
This is our fourth discovery at Springdale. Assays for the balance of the resource and exploration drilling program are due to be received by mid-July with a new resource estimate to be published soon after.
As reported in February 2023[ii], flotation tests on sample composites from Mason Bay produced high grade graphite concentrate at excellent recoveries with ‘fines’ size highly amendable to micronising.
We expect future drilling will continue adding to the Springdale resource base. Areas, comparable in size to the existing identified mineral resource, remain to be investigated.
The continued exploration success at Springdale gives us great confidence that sufficient mineral resource will be available across our tenement package to host a long life mine and support our integrated mine-to-market graphite operation in Western Australia.”
Drill collar data from drilling with assay results is shown below in Table 1 and significant intercepts are shown in Table 2. Figures 3-5 show graphite mineralisation in cross section 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.
Figure 3: Cross-section 1 showing the multiple graphite zones intersected.
Figure 4: Cross-section 2 showing the multiple graphite zones intersected
Figure 5: Cross-section 3 showing the multiple graphite zones intersected
Table 1: Drill Collar Data for this release at Mason Bay area (GDA94 MGAz51)
Drilled Hole ID
Easting
Northing
RL
DIP
Azimuth
EOH (m)
Type
SGRC0085
260705
6247329
25
-60
90.00
97
RC
SGRC0086
260546
6247329
26
-60
90.00
76
RC
SGRC0087
260626
6247328
26
-60
90.00
115
RC
SGRC0088
260784
6247481
26
-60
90.00
79
RC
SGRC0089
260704
6247481
27
-60
90.00
79
RC
SGRC0090
260626
6247479
27
-60
90.00
85
RC
SGRC0091
260544
6247482
27
-60
90.00
79
RC
SGRC0092
260745
6247256
25
-60
90.00
97
RC
SGRC0093
260666
6247257
25
-60
90.00
103
RC
SGRC0094
260746
6247334
25
-60
90.00
109
RC
SGRC0095
260664
6247332
26
-60
90.00
103
RC
SGRC0096
260584
6247333
26
-60
90.00
79
RC
SGRC0097
260747
6247405
27
-60
90.00
121
RC
SGRC0098
260664
6247406
27
-60
90.00
91
RC
SGRC0099
260586
6247405
27
-60
90.00
73
RC
SGRC0100
260740
6247481
26
-60
90.00
79
RC
SGRC0101
260665
6247482
27
-60
90.00
85
RC
SGRC0102
260585
6247481
27
-60
90.00
73
RC
SGRC0103
260746
6247563
26
-60
90.00
61
RC
SGRC0104
260668
6247565
26
-60
90.00
70
RC
SGRC0105
260624
6246806
24
-60
90.00
76
RC
SGRC0106
260555
6246817
24
-60
90.00
100
RC
SGRC0107
260626
6246327
22
-60
90.00
82
RC
SGRC0108
260545
6246326
22
-60
90.00
70
RC
Table 2: Significant Graphite Intervals
Drilled Holes ID
From (m)
To (m)
Interval (m)
Average Grade (%TGC)
Location
SGRC0085
34
54
20
5.65
Mason Bay
SGRC0085
58
60
2
1.44
Mason Bay
SGRC0085
65
82
17
6.54
Mason Bay
SGRC0086
23
24
1
1.85
Mason Bay
SGRC0086
57
68
11
11.7
Mason Bay
SGRC0086 includes
63
64
1
23.0
Mason Bay
SGRC0087
16
23
7
6.0
Mason Bay
SGRC0087
43
62
19
8.3
Mason Bay
SGRC0087
65
67
2
1.6
Mason Bay
SGRC0087
69
70
1
1.4
Mason Bay
SGRC0087
73
83
10
4.3
Mason Bay
SGRC0087
85
97
12
8.5
Mason Bay
SGRC0087
101
112
11
4.3
Mason Bay
SGRC0088
14
19
5
1.6
Mason Bay
SGRC0088
42
71
29
5.1
Mason Bay
SGRC0089
5
12
7
4.0
Mason Bay
SGRC0089
18
19
1
1.5
Mason Bay
SGRC0089
42
46
4
6.0
Mason Bay
SGRC0089
51
53
2
1.2
Mason Bay
SGRC0089
55
60
5
5.8
Mason Bay
SGRC0090
6
8
2
1.8
Mason Bay
SGRC0090
42
51
9
5.0
Mason Bay
SGRC0090 includes
43
44
1
21.3
Mason Bay
SGRC0090
56
65
9
1.3
Mason Bay
SGRC0090
68
70
2
7.2
Mason Bay
SGRC0091
7
10
3
11.2
Mason Bay
SGRC0091
13
14
1
1.7
Mason Bay
SGRC0091
19
30
11
1.3
Mason Bay
SGRC0091
37
39
2
2.1
Mason Bay
SGRC0092
54
60
6
6.2
Mason Bay
SGRC0092
65
67
2
1.5
Mason Bay
SGRC0092
77
86
9
4.8
Mason Bay
SGRC0093
67
68
1
1.1
Mason Bay
SGRC0093
72
96
24
7.2
Mason Bay
SGRC0093
99
100
1
1.6
Mason Bay
SGRC0094
26
31
5
8.1
Mason Bay
SGRC0094
46
61
15
3.2
Mason Bay
SGRC0094
66
72
6
5.7
Mason Bay
SGRC0094
77
100
23
8.7
Mason Bay
SGRC0095
12
26
14
3.7
Mason Bay
SGRC0095
28
39
11
3.4
Mason Bay
SGRC0095
74
75
1
1.8
Mason Bay
SGRC0095
77
84
7
7.5
Mason Bay
SGRC0095
90
93
3
2.2
Mason Bay
SGRC0096
41
53
12
12.6
Mason Bay
SGRC0096 includes
43
44
1
20.7
Mason Bay
SGRC0096
64
68
4
6.0
Mason Bay
SGRC0096
71
72
1
5.3
Mason Bay
SGRC0097
2
3
1
1.2
Mason Bay
SGRC0097
10
20
10
5.4
Mason Bay
SGRC0097
43
52
9
10.3
Mason Bay
SGRC0097
55
56
1
1.4
Mason Bay
SGRC0097
62
72
10
2.2
Mason Bay
SGRC0097
84
89
5
4.2
Mason Bay
SGRC0097
92
101
9
5.1
Mason Bay
SGRC0098
14
20
6
20.7
Mason Bay
SGRC0098 includes
15
19
4
25.9
Mason Bay
SGRC0098
28
39
11
18.0
Mason Bay
SGRC0098 includes
29
36
7
23.9
Mason Bay
SGRC0098
64
68
4
8.1
Mason Bay
SGRC0098
78
80
2
3.1
Mason Bay
SGRC0099
1
2
1
2.8
Mason Bay
SGRC0099
42
44
2
3.5
Mason Bay
SGRC0100
9
25
16
5.9
Mason Bay
SGRC0101
6
11
5
4.2
Mason Bay
SGRC0101
13
14
1
1.9
Mason Bay
SGRC0101
42
43
1
9.3
Mason Bay
SGRC0101
46
47
1
1.1
Mason Bay
SGRC0101
49
54
5
1.8
Mason Bay
SGRC0101
57
63
6
6.8
Mason Bay
SGRC0102
10
14
4
5.5
Mason Bay
SGRC0103
17
23
6
3.1
Mason Bay
SGRC0103
25
26
1
1.7
Mason Bay
SGRC0104
12
19
7
9.4
Mason Bay
SGRC0104
22
24
2
1.9
Mason Bay
SGRC0106
34
52
18
6.6
Mason Bay
SGRC0106
68
93
25
11.4
Mason Bay
SGRC0108
28
29
1
1.5
Mason Bay
Note: Intercepts widths are downhole, calculated with a minimum of 1 metre of internal waste using a 1% TGC cut-off. Including intercepts widths are downhole, calculated with a minimum of 1 metre of internal waste using a 20% TGC cut-off.
Table 3: Springdale Graphite Existing Mineral Resource Estimate Summary (JORC 2012)
Domain
Tonnes (Mt)
Density (t/m3)
Graphite (TGC%)
Classification
High-grade
2.6
2.1
17.5
Inferred
Low grade
13.0
2.2
3.7
Inferred
Total
15.6
2.2
6.0
Inferred
This announcement has been authorised for release by the Board of International Graphite Limited.
Andrew Worland
Managing Director CEO
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.
The information in this document that relates to metallurgical test work managed by Battery Limits Pty Ltd (BL) is based on, and fairly represents, information and supporting documentation reviewed by Mr David Pass, who is a Member of The Australasian Institute of Mining and Metallurgy (AusIMM). Mr Pass is a fulltime employee of BL, who has been engaged by International Graphite Ltd to provide metallurgical consulting services. Mr Pass has approved and consented to the inclusion in this document of the matters based on his information in the form and context in which it appears.
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
robert.hodby@internationalgraphite.com.au
+61 407 770 183
Marie Howarth
Media and Communication
marie.howarth@internationalgraphite.com.au
+61 412 111 962
Link to the original news:
[i] All metres and TGC are rounded to 1 decimal point.
[ii] Refer ASX release dated 21 February 2023