International Graphite Ltd (ASX:IG6) CEO Andrew Worland tells Proactive the companys Springdale Graphite Project has become the second largest known graphite deposit in Australia following the release of a new mineral resource estimate. The independent estimate is 3.4 times the previous estimate and follows on from an extensive drilling campaign in 2022/23 that he says has surpassed all expectations. He adds that its an important milestone as the company drives to establish itself as one of the first vertically integrated producers of battery anode graphite.
We 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, he said.
We have only scratched the surface at Springdale.
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International Graphite Ltd