A new mineral resource estimate for International Graphite’s Springdale Graphite Project in Western Australia has exposed the site as the second largest known graphite deposit in the country.
The estimate was prepared by independent consultancies, OMNI GeoX and Trepanier, and is 3.4 times the previous estimate.
International Graphite Chairman, Phil Hearse, said that the results from an extensive drilling campaign in 2022-23 had surpassed all expectations.
“Not only have we significantly increased the size of the mineral resource, 27 per cent of it (by contained graphite) is now at an ‘indicated’ category which provides a strong foundation for future technical and economic studies,” Mr Hearse said.
“This is a huge achievement for the business and an important milestone as we drive to establish ourselves as one of the first vertically integrated producers of battery anode graphite. These results show that Springdale has the mineral resource base to underpin our mine to market vision for decades to come.”
International Graphite Managing Director and CEO, Andrew Worland, said that the company set out to upgrade the existing mineral resource and expand it.
“To expand it by almost three-and-a-half times, improve the overall grade, and have over a quarter now classified as ‘indicated’, is testament to a well planned and executed program by our technical team,” Mr Worland said.
“We have only scratched the surface at Springdale.
“So far, exploration has been limited to approximately ten per cent of the Springdale tenement areas. More than 80 per cent of the aeromagnetic anomalies on a portion of our tenure has yet to be tested.
“It is notable that ten per cent of the new mineral resource estimate stems from an exciting new graphite discovery at Mason Bay, 2km east of Springdale. Further drilling will seek to expand this resource.”
Mr Worland said that across Graphite International’s tenements, there is significant potential for further mineral resource growth to be defined if it follows the same exploration model.
“Graphite mineralisation at Springdale is fine flake and ideally suited to a streamlined flowsheet producing a single concentrate feedstock for downstream processing and the lithium-ion battery market.
“Our team is now working to optimise the mine development pathway, planning further infill and exploration drilling and integrating Springdale with the company’s planned Graphite Battery Anode Facilities in Collie, Western Australia.”
