Kingsland (ASX:KNG) co-funded for NT graphite

As drilling continues on what could be a top-tier graphite discovery at Leliyn, Kingsland Minerals has secured government backing from the Northern Territory to convert its hulking exploration target into a rock-solid JORC resource.

The $92,500 grant from the Resourcing the Territory initiative will fund half of a four-hole diamond campaign, expected to begin in the coming weeks.

It will spin up alongside a drill campaign which has already struck into broad intervals of graphitic schist, and an EM survey has further alluded to a graphite discovery with immense potential scale.

“We would like to thank the NT Government for its support of our exploration program at Leliyn. The funding will help us drill four important holes as part of our strategy to establish a maiden JORC Resource in the area where we have already established a big Exploration Target and identified the presence of an extensive graphitic schist,” Kingsland Managing Director Richard Maddocks said.

Australian graphite

One of the key materials powering the EV industry, demand from the lithium-ion battery anode market grew by 46 per cent in 2022 and saw the sector grow into flake graphite’s biggest end user.

And like other critical minerals, Chinese supply chain dominance has spurred a new wave of exploration for resources outside its influence, with new government and investor money pouring into a graphite sector facing down a potential shortfall.

Heightened exploration is well underway in Australia and Africa, and the presence of well-laid infrastructure and a stable government has seen several price surges for ASX-listed players in the land down under – including Kinsland, which has more than doubled its share price over the past month.

Forward plan

First assays are expected to start coming in next month, and Kingsland have a lot more schist to explore at Leliyn, with the current 200-250Mt at 8-11% Total Graphitic Carbon for 16-27Mt of contained graphite Exploration Target covering just a quarter of a 20-kilometre-long graphitic schist.

EM survey lines over the interpreted graphitic schist unit and Exploration Target area

KINGMINLTD FPO [KNG]

Sector: Basic Materials

Industry: Other Industrial Metals & Mining

Employees:

Kingsland Minerals Ltd operates as a mineral exploration and development company in Western Australia. The company primarily explores for gold, uranium, copper, nickel, and cobalt deposits, as well as base metal mineralization. Kingsland Minerals Ltd was incorporated in 2021 and is based in West Perth, Australia.

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