Spectacular Assay Results from New Diamond Drilling at Springdale

International Graphite Limited (ASX: IG6) has received further spectacular graphite assays from four diamond holes at the Mason Bay deposit – part of the Company’s 100% owned Springdale Graphite Project near Hopetoun-Ravensthorpe on the south coast of Western Australia (Figure 1).

HIGHLIGHTS

Spectacular assay results from the latest diamond drilling at Mason Bay deposit. Stand out graphite intercepts1 include: 11.0m @ 14.3% Total Graphitic Carbon (TGC) from 10.4m downhole, including 1.0m @ 21.3% TGC from 13.0m and 3.1m @ 26.5% TGC from 16.0m downhole (SGDD0014)3.6m @ 22.1% TGC from 23.0m downhole, including 3.2m @ 24.2% TGC from23.4m downhole (SGDD0014)3.1m @ 9.9% TGC from 41.6m downhole (SGDD0014)6.11m @ 11.4% TGC from 60.9m downhole (SGDD0014)3.9m @ 10.6% TGC from 72.8m downhole (SGDD0014) 10.5m @ 6.1% TGC from 13.1m downhole (SGDD0015)33.2m @ 12.0% TGC from 36.5m downhole (SGDD0015)6.7m @ 6.1% TGC from 65.0m downhole (SGDD0016) Drilling of a further six diamond holes at Springdale Central is complete with assay results pending.

The results follow a ten-hole PQ diamond drilling program, completed between May and July this year, at the Mason Bay and Springdale Central deposits. The program focussed on geotechnical drilling, to inform mine planning and permitting, and to provide metallurgical data for concentrator plant process design. Results from Springdale Central are due in coming weeks.

Managing Director and CEO Andrew Worland said, “The more we drill at Springdale the more graphite we find. 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 per cent 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.”

Figure 2 shows the location and significant intercepts of the four diamond holes at Mason Bay. Results are detailed in Tables 1 and 2.

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