The nation’s second largest known graphite deposit has been revealed at International Graphite’s Springdale project in Western Australia, following the release of an updated mineral resource estimate.
The independent estimate sits at 49.3 million tonnes grading 6.5% TGC (total graphitic carbon).
It is believed to be 3.4 times larger than the previous estimate of 15.3Mt at 6.0% TGC and includes 11.5Mt at 7.5% TGC in the indicated category and 37.8Mt at 6.1% TGC inferred.
At a 5% TGC cut-off, the estimate is 28Mt at 8.7% TGC including 7.9Mt at 9.3% TGC indicated and 20.1Mt at 8.5% TGC inferred.
International Graphite confirmed the indicated category comprises 27% of the total mineral resource which is sufficient for long-term mine planning.
More than 10% of the resource has been attributed to a new discovery at Mason Bay, which sits 2 kilometres east of the original Springdale resource.
Extensive drilling campaign
The updated estimate incorporates results from an extensive drilling campaign over the past 18 months which comprised 12 diamond drill holes and 261 reverse circulation holes for a total 20,574 metres.
It also includes historic drilling results from 32 diamond holes and 219 reverse circulation and aircore holes for 9533m.
Combined drilling at Springdale totals 44 diamond drill holes, 229 reverse circulation and aircore holes for 30,107m at an average depth of 69m per hole.
Limited exploration
International Graphite’s exploration to date has been limited to approximately 10% of the project’s tenements.
More than 80% of the aeromagnetic anomalies on a portion of the tenure have yet to be tested.
Further drilling using the Springdale exploration model will seek to expand the resource at Mason Bay.
Surpassed expectations
International Graphite chairman Phil Hearse said the upgraded estimate had surpassed the company’s expectations.
“We have significantly increased the size of the resource and 27% of it (by contained graphite) is now at an indicated category, which provides a strong foundation for future technical and economic studies,” he said.
“This is a huge achievement for our business and an important milestone as we drive to establish ourselves as one of the first vertically-integrated producers of battery anode graphite.”
Resource expansion
Managing director Andrew Worland said the company’s exploration strategy at Springdale set out to achieve a resource expansion.
“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,” he said.
“Across our tenements, there is significant potential for further resource growth to be defined if we follow the same exploration model… we believe we have only just scratched the surface.”
