‘Multiple’ graphite hits sees IG6 pick EM as target ID tool of choice
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Maiden drilling at International Graphite’s SDW-1 target has intersected multiple zones of shallow graphite mineralisation next to its existing Springdale resources.
The drilling highlights the potential for the company to make significant new discoveries close to existing resources of 15.6Mt grading 6% total graphitic content including a high-grade component of 2.6Mt at 17.5% TGC.
However, the real takeaway from the drilling is International Graphite’s (ASX:IG6) successful use of airborne electromagnetic survey data to identify highly conductive graphite mineralisation.
This is a big plus given that the SDW-1 was just the first of seven high priority targets outlined by the EM survey.
Executive chairman Phil Hearse said the results supported the company’s belief that Springdale could become a significant supplier of critical graphite in the future.
“Springdale is the lynchpin in our vision to be the first sovereign mine-to-market battery graphite producer with operations wholly contained in Western Australia,” he added.
“The drilling is building our confidence and understanding of the size and quality of the Springdale mineral resource. Initial results are very promising and support the positive indicators received from past aeromagnetic surveying.
“Early testwork has shown potential for graphite from Springdale to be highly suitable for battery anode material and samples from the current drilling program will be used to expand our metallurgical investigation and for future feasibility study assessment.”
Hearse also noted that the company is pushing to establish downstream facilities at Collie, a move that is likely to be welcome in the coal town which is facing the closure of its biggest employer by 2029.
Fit-out of the company’s pilot plant in Collie is currently underway with equipment installation underway and planning underway for its commissioning.
Research and development equipment including an impact mill (micronising) and shape (spheronising) is being assembled ready for commissioning while procurement is underway for additional power distribution and air systems services.
Storage and materials handling systems specifications are also being finalised
Meanwhile, resource evaluation diamond drilling is currently underway and will be expanded with the addition of a reverse circulation rig within the next week.
This program consists of 54 RC holes and 12 diamond holes to infill the existing resource, provide additional samples for ongoing metallurgical testwork, and data for initial geotechnical assessments and mine planning.
International Graphite will also drill 37 RC holes totalling 3,000m to test a number of high-priority exploration targets.
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.