International Graphite Ltd (ASX:IG6) is advancing at pace at the second-largest graphite deposit in Australia, with very high-grade graphite drilling results generated from the Springdale Graphite Project’s Mason Bay deposit.
The ten-hole diamond drilling program was focused on geotechnical drilling to inform mine planning and permitting, as well as providing metallurgical data for concentrator plant process design.
The most spectacular result graded at 11 metres at 14.3% total graphitic carbon (TGC) from just 10.4 metres of depth, with two very high-grade components of 1-metre at 21.3% TGC and 3.1 metres at 26.5% TGC.
Shallow, exceptionally high-grade graphite
“The more we drill at Springdale the more graphite we find,” International Graphite CEO and managing director Andrew Worland said.
“The project is shaping as one of global significance to the high growth lithium-ion battery markets and industrial and defence sectors.
“Mason Bay was a new discovery in 2023. Similar to the rest of Springdale, the graphite mineralisation is shallow and in oxide/weathered rock, which lends itself to low mining costs, as demonstrated in the scoping study we released in January.
“Springdale has enormous expansion potential. Only around 25% of the targets identified in previous aeromagnetic survey have been drilled.
“We expect further exploration and infill drilling will add considerable mine life beyond that which was generated in our scoping studies.”
Other standout results from Mason Bay include:
- 3.6 metres at 22.1% TGC from 23.0 metres downhole, including 3.2 metres at 24.2% TGC from 23.4 metres;
- 3.1 metres at 9.9% TGC from 41.6 metres;
- 6.11 metres at 11.4% TGC from 60.9 metres;
- 3.9 metres at 10.6% TGC from 72.8 metres;
- 10.5 metres at 6.1% TGC from 13.1 metres;
- 33.2 metres at 12.0% TGC from 36.5 metres downhole; and
- 6.7 metres at 6.1% TGC from 65.0 metres downhole.
IG6 has also completed a further six diamond-drilled holes at the Springdale Central deposit, with results expected imminently.