Iyan lies immediately adjacent to the Northern Syncline and represents a new mineralised zone 16.9Mt at 6.00% TGC included in revised April 2026 JORC Resource.
The exceptional continuity and grades encountered over long intervals indicate the potential for a material expansion of resources in future JORC updates. Importantly, this hole remains open at depth demonstrating that the mineralised system continues beyond the limits of current drilling.
Iyan
| Mt | % Total Carbon | |
|---|---|---|
| Total Inferred Resources | 16.90 | 6.00% |
Deep hole assays (L909B, L908B, L910B) confirm continuous, thick graphite mineralisation from or near surface to ~100 metres, with all deep holes ending in graphite. This indicates a robust, open system with clear multi-decade production potential, extending well beyond the initial 15-year mine life defined in the DFS.
Each hole concluded still in mineralisation, underscoring both the depth continuity and the likelihood of a significantly larger system extending below the current drilling limits.
L909B – Key mineralised intervals
True Width / Total Graphitic Carbon
18.85m @ 7.01%
from 4.0m to 32.7m
29.47m @ 5.34%
from 32.7m to 62.2m
10.88m @ 5.10%
from 62.2m to 73.1m
L908B – Key mineralised intervals
True Width / Total Graphitic Carbon
12.05m @ 5.61%
from surface to 16.63m
2m @ 9.56%
3m @ 11.55%
54.50m @ 4.54%
from 46.1m to 118m
5m @ 7.89%
6m @ 7.34%
L910B – Key mineralised intervals
True Width / Total Graphitic Carbon
14.27m @ 4.22%
from 19.46 to 38.07m
6m @ 6.97%
2m @ 8.57%
16.15m @ 5.56%
from 99.98m to end-of-hole
2m @ 13.92%
3.6m @ 9.74%
These preliminary results from our first deep hole at Iyan have exceeded expectations, both in the exceptionally long intersections and the consistently higher grades returned. The picture emerging at Iyan is of a continuous ore body extending from surface to around 100 metres, and we were still in graphite when drilling stopped so its full depth is yet to be defined.
Cameron Pearce
Executive Chairman