International Graphite Ltd (ASX:IG6) expects to release an updated mineral resource estimate (MRE) for the Springdale Graphite Project in Western Australia in the coming weeks after receiving more strong results from recently completed drilling.
About 273 drill holes have been completed during the 2022/2023 drilling campaign, including 5,150 metres of drilling at the new Springdale Central discovery and 3,200 metres of drilling at the Mason Bay discovery, which will add further inventory to the existing resource.
Some of the standout results from the latest 74 reverse circulation (RC) drill holes include:
- SGRC0113 - 4 metres at 17.2% total graphitic carbon (TGC) from 53 metres downhole, including 3 metres at 20.5% TGC from 54 metres downhole (Eastern);
- SGRC0122 - 16 metres at 4.9% TGC from 3 metres downhole (Eastern);
- SGRC0131 - 18 metres at 13.0% TGC from 47 metres downhole, including 1 metre at 25.1% from 56 metres downhole and 4 metres at 28.4% TGC from 59 metres downhole (Eastern);
- SGRC0189 - 16 metres at 3.6% TGC from 4 metres downhole (Western);
- SGRC0201 - 13 metres at 3.5% TGC from 16 metres downhole (Western); and
- SGRC0205 - 12 metres at 11.4% TGC from 49 metres downhole, including 4 metres at 19.8% TGC from 55 metres downhole (Western).
Assays from a dozen drill holes are pending.
Airborne electromagnetic survey image showing conductive material in relation to resource areas and new targets at Springdale.
Building confidence
“These drill holes provide additional data that will be used to upgrade confidence in the existing Springdale mineral resource estimate from inferred to indicated status,” International Graphite managing director and chief executive officer Andrew Worland said.
“We have completed some 9,000-10,000 metres of infill drilling at the existing Springdale mineral resource over the past 12 months.
“This more than doubles the drill database that supports the existing mineral resource estimate.”
Springdale's existing mineral resource estimate.
About the company
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 in Western Australia, including the Springdale Graphite Project and downstream graphite processing at Collie.
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