International Graphite drilling identifies new prospect at Sprindale

International Graphite has identified a new prospect at its Springdale project south of Ravensthorpe, Western Australia, after drilling intersected multiple zones of shallow graphite.

Notable results from the drill program include 7m grading 13.3% total graphitic content (TGC) from a depth of 71m down-hole, 5m at 12.8% TGC from 45m, and 10m at 9.5% TGC from 36m.

These and other results have allowed the company to identify the Springdale Far West prospect about 500m from the existing Springdale resource of 15.6Mt grading 6% TGC – including a high-grade component of 2.6Mt at 17.5% TGC.

For International Graphite (ASX:IG6), the results are also significant for demonstrating the excellent pathfinding ability of electromagnetic geophysical survey data to target additional graphite proximate to the existing resource.

“These exploration results are exceptional and confirm the use of electromagnetic geophysical survey data to highlight the substantial graphite mineralisation potential across our Springdale tenements and the potential for significant resource growth at the project,” executive chairman Phil Hearse said.

“We have intersected multiple shallow zones of high-grade mineralisation, which consistent with the existing resource, appears to be amenable to simple open pit mining.

“I am looking forward to receiving the pending drilling assays and am excited by the prospect of growing the resource inventory at the project to support a long life mining operation feeding our proposed downstream processing facilities supplying battery anode materials and industrial products from Collie.”

Springdale drilling

The drill program of 91 reverse circulation and 12 diamond holes totalling 7,100m is being carried out to both upgrade the existing Springdale resource from the Inferred to higher confidence Indicated category and to add to the resource inventory. About 75% of the program had been completed before it had to be postponed because of high rainfall and very wet conditions in the area.

Drilling will test several high priority exploration targets within 2.5km of the main resource to test the Exploration Target of 18Mt to 54Mt grading between 4% and 18% TGC.

International Graphite has to date drilled 39 RC and 12 diamond holes.

These include the nine holes – each of which successfully intersected multiple zones of graphite mineralisation – drilled at the Springdale Far West prospect, which has been defined by a distinct conductor identified in airborne electromagnetic data.

Its confirmation that electromagnetic geophysical survey is a highly effective exploration technique is promising as the prospect is just the first of seven high priority exploration targets to be tested in the current process.

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.