Latest drilling result from IG6’s Springdale graphite deposit to support upcoming MRE
New assays from 74 RC drill holes within the existing MRE at the Springdale project will assist IG6 in upgrading confidence from inferred to indicated status in the coming weeks.
Around 5,000m of drilling at the Springdale Central discovery, and 3,200m of drilling at the Mason Bay discovery will add further resource inventory to the revised Springdale mineral resource estimate (MRE), which is expected in the coming weeks.
International Graphite (ASX:IG6) says 273 drill holes were completed during the 2022/2023 drilling campaign with assays for a dozen holes still outstanding at the time of print.
Stand-out results from this latest drilling program include 4m at 17.2% Total Graphitic Carbon (TGC) from 53m, including 20.5% TGC from 54m, and 16m at 4.9% TGC from 3m.
“We have completed some 9-10,000 metres of infill drilling at the existing Springdale Mineral Resource over the past 12 months,” IG6 managing director and CEO Andrew Worland says.
“This more than doubles the drill database that supports the existing Mineral Resource estimate and demonstrates Springdale’s potential to host a deposit of industry significance.”
Once final assays have been received, IG6 plans to unveil a revised MRE which will see an upgrade in confidence at Springdale from inferred to indicated status, which means it has sufficient information on geology and grade continuity to support mine planning.
Meanwhile, the company has entered the next phase of metallurgical testing of ore samples from Springdale, with more than 1.5 tonnes of material currently undergoing laboratory assessment.
The company is rapidly progressing technical assessments for its proposed open cut mine at Springdale – with a target for feasibility study completion by mid-2024.
ALS Metallurgy’s pilot concentrate production facilities are expected to produce around 100kg of graphite concentrate from the sample material.
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.