International Graphite (ASX: IG6) has obtained a key mining go-ahead for its promising Mason Bay find, part of the company’s 100%-owned Springdale graphite project near Hopetoun-Ravensthorpe on the south coast of Western Australia.
The company has been granted a mining lease for Mason Bay by the WA Department of Mines, Industry Regulation and Safety.
International Graphite is now awaiting a mining lease application covering the Springdale Central deposits.
The granting of a mining lease is a key component in the lead-up to the development of a mine, with a renewable term of 21 years.
It gives the lessee permission to do all things necessary to effectually carry out mining operations, subject to conditions of title.
The Springdale graphite resource is considered one of the biggest in Australia and among the top 15 worldwide.
The two mining areas are part of the company’s fully integrated graphite supply strategy that will see graphite transported from WA via a processing facility at Collie and on to global markets.
Similar to the rest of Springdale, the graphite mineralisation at Mason Bay is shallow and in oxide/weathered rock, which lends itself to low mining costs.
International Graphite announced significant graphite assays from four diamond drilling (DD) holes at Mason Bay in September.
The results followed a 10-hole DD program completed in July at Mason Bay and Springdale Central that focused on geotechnical drilling to inform mine planning and permitting and to provide metallurgical data for concentrator plant process design.
A drone survey was also completed in Q3 this year and will be used to assist hydrology assessment, including drilling planned for early 2025.
International Graphite’s fully integrated graphite supply strategy has already attracted the attention of potential customers and finance partners from North America, Japan and Korea.
The project’s potential has received significant government backing, including $6.5 million from WA and $4.7m at the federal level.
The plant is expected to be Australia’s first purpose-built graphite processing facility and will significantly increase the nation’s sovereign supply of critical battery materials.
The micronising qualification plant commissioned earlier this year at Collie is already producing various flake product sizes that meet a range of technical specifications for end users.
Critically, flake size distributions produced are suitable for both advanced battery anode materials and other industrial applications.
Product samples are now planned to be available for potential customers to conduct qualification and acceptance assessment.
The company is targeting the completion of the definitive feasibility study by the end of this year.
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