Kingsland (ASX:KNG) strike top end graphite
June 15, 2023Kingsland Minerals’ first assays from the Leliyn Graphite Discovery have revealed extensive, high-grade graphite in lockstep with an expansive exploration target set in Australia’s Northern Territory.
Intersections of 45m @ 9.0 % from 0m, 28m @ 11.1 % from 55m, and 25m @ 10.1 % from 0m from the first two holes confirmed high-grade graphite within an extensively long graphitic schist unit.
The first exploration target was set at an eye-opening 200-250Mt at 8-11% Total Graphitic Carbon for 16-27Mt of contained graphite, and Kingsland Managing Director Richard Maddocks said early returns are lining up with its ambitions.
“These assay results are entirely consistent with the large Exploration Target. This is only the beginning of what we believe will be a significant high-grade, tier-one graphite project,” Mr Maddocks said.
“The drilling and these initial assays underpin our confidence that we are really onto something big. We
know we have a lot of graphitic schist and now we are getting very good evidence of high grades as well,” he added.
“We have drilled 18 RC holes so far with the deepest one at 204m and I’m really looking forward to announcing more assay results in the coming months.”
Government-backed graphite
Investors are not the only ones taking notice of Kingsland’s transformative graphite discovery, the Northern Territory Government is co-funding four diamond holes as part of converting the exploration target – which still covers just a quarter of a 20-kilometre-long graphitic schist confirmed to bear high-grade graphite.
And there is money coming in from higher powers to secure Australian graphite resources, International Graphite have a $4.7 million funding agreement with the Federal Government, and the nation’s critical minerals explorers could gain access to billions in IRA subsidies under a new arrangement with the United States.
Cross section of the first two holes
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