International Graphite Ltd (ASX:IG6) is targeting the expansion of the graphite resource at Springdale Project in Western Australia with its first exploration program on the tenure since the company listed in April.
IG6 will investigate a series of targets it considers highly prospective for additional graphite mineralisation, having estimated an exploration target of between 18 million and 54 million tonnes at 4-18% total graphite content (TGC) for the project, excluding the current mineral resource of 15.6 million tonnes of graphite at 6% TGC.
The company has commissioned a 7,100-metre reverse circulation (RC) and diamond drilling program to prove-up additional mineralised resources and increase confidence in existing ones.
“Significant step in our plans”
“This is the first drilling program we have initiated at Springdale and is part of our campaign to actively explore for new graphite targets and to expand the existing resource and upgrade confidence from inferred to indicated status,” International Graphite executive chair Phil Hearse said.
“We will also be using diamond drilling that will generate samples for further metallurgical test-work and downstream battery anode testing.
“This is a significant step in our plans to develop Springdale as a source of high-quality graphite feedstock for our proposed Collie downstream processing operation and key to our future production of battery anode materials to meet the escalating demand in global battery markets.”
Graphite is an increasingly important material for rechargeable batteries, – including lithium-ion – with demand forecast to far outstrip production within the next 20 years.
Given the rapid transition toward these technologies, high-quality anode-ready graphite will likely be in high demand for some time to come.