International Graphite flags fourth high-grade discovery at Springdale

International Graphite has announced its fourth high-grade find at the Springdale Graphite project in WA, with assays from the previously undrilled exploration target Mason Bay showing strong graphite results.

Standout assay results for the first 15 RC holes include:

• 15m at 11.3% Total Graphitic Carbon (TGC) from 38m downhole (SGRC0075);
• 16m at 11.7% TGC from 13m downhole (SGRC0076);
• 6m at 13.3% TGC from 31m downhole (SGRC0076);
• 19m at 8.4% TGC from 55m downhole (SGRC0076);
• 9m at 17.3% TGC from 33m downhole including 4m at 29.3% TGC from 34m downhole (SGRC0077);
• 5m at 9.7% TGC from 82m downhole (SGRC0077); and
• 2m at 9.2% TGC from 59m downhole (SGRC0078).

Notably, Mason Bay is just one of seven high priority exploration targets identified by an airborne electromagnetic (AEM) survey – and it sits just 2km east of the existing Springdale Mineral Resource.

Fourth discovery since mid-2022

“Mason Bay is our fourth discovery since we started drilling at Springdale in mid-2022,” International Graphite (ASX:IG6) MD and CEO Andrew Worland said.

“The fact that it is so close – only 2km east of the existing Springdale mineral resource – makes it particularly exciting.

“We expect to revise the mineral resource estimate for the Springdale Graphite Project as soon as we have the remaining assays for both Springdale and Mason Bay.

“We also see significant opportunity for more graphite discoveries at Springdale in the future.

“Anomalies to the north of the existing mineral resource cover an area similar in size and are yet to be tested.”

Test work shows competitive concentrate potential

In February, flotation work on samples from Mason Bay showed 95%+ graphite concentrate and recoveries exceeding 93%.

The concentrates produced were ‘fine’, at less than 75 micron, and considered to be highly amenable to micronising.

For context, micronised graphite is widely used in industrial applications as well as being the first step in downstream processing of battery anode material – which bodes well for the project.

“Initial flotation tests on samples from Mason Bay drilling demonstrate that it is ideal for producing high grade graphite concentrate with excellent recoveries,” Worland said.

“This reinforces our confidence that Springdale, including Mason Bay, has all the attributes necessary for a highly competitive concentrate operation — consistent, shallow mineralisation, with high grade graphite zones and outstanding flotation characteristics.

This article was developed in collaboration with International Graphite, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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