Kingsland Minerals (ASX:KNG) strikes again at Leliyn graphite project
October 25, 2023Kingsland Minerals has found more significant intersections of total graphitic carbon at its Leliyn graphite project in the Northern Territory.
The Western Australian company’s latest findings have extended the strike length of the known wide, high-grade graphite mineralisation at its flagship graphite-gallium project 2.5 hours from the port of Darwin.
The initial drilling program at Leliyn is nearing completion, and metallurgical test-work has already begun at IMO metallurgical laboratory in Perth.
Kingsland expects to complete its maiden mineral resource estimate and initial metallurgical test-work by the first quarter of March 2024.
“These latest results confirm the strike extent as forecast in the exploration target – we now have significant graphite intersections over 5 kilometres of strike length of the (20km) graphitic schist unit,” Minerals Managing Director and CEO Richard Maddocks said.
“The first metallurgical sample has been submitted for flotation test-work, with results expected in the coming months, and work on the resource estimate has begun.”
The significance of these results is further enhanced by China’s announcement last Friday that it would introduce export controls for natural flake graphite and its products from December 1.
This is in addition to similar export controls introduced for gallium on August 1 this year.
Top-end project Leliyn also has significant gallium within its graphitic schist, and Kingsland plans to determine its economic feasibility.
Leliyn has an exploration target of 200-250Mt graphite grading 8-11 per cent total graphitic carbon for 16-27Mt of contained graphite.
UBS has tipped natural graphite demand will increase 600% to 6.3Mt by 2030 as prices climbed to about $US850 ($1347) a tonne.
The price forecast is a 149% increase on the $US570/t spot price seen this month.
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