Kingsland Minerals (ASX:KNG) advances Leliyn graphite as Quinbrook begins downstream assessment

Kingsland Minerals has taken another substantive step in advancing the Leliyn Graphite Project in the Northern Territory, with its binding offtake partner Quinbrook set to assess Leliyn graphite concentrate for potential conversion into purified spherical graphite.

The milestone aligns with the company’s stated development pathway and follows the approval of the Pre-feasibility Study, which commences as test work proceeds.

Highlights

• Kingsland will supply Quinbrook with diamond drill core for test work for Quinbrook’s planned Darwin downstream processing facility.

• Kingsland has a binding offtake agreement with Quinbrook to process Leliyn graphite concentrate for use in battery anodes.

• Metallurgical drilling program successfully completed, producing PQ size core for ongoing test work.

• Leliyn Pre-feasibility Study approved and commenced.

• Drilling next year will target the upgrade of 60-70mt of inferred mineral resource to indicated and/or measured categories.

The latest development centres on test work to be undertaken by Quinbrook, which will investigate the processing of Leliyn graphite concentrate into purified spherical graphite for use in battery anodes.

The activity runs concurrently with the Leliyn Pre-feasibility Study, recently approved by the Kingsland Board, which will focus on the production of graphite concentrate from Leliyn.

The company notes that the PFS follows the positive results of the Leliyn scoping study released in September 2025, providing the foundation for ongoing technical and economic assessment.

The PFS includes a drilling program scheduled for 2026 that aims to convert 60-70mt of currently inferred mineral resource into indicated and/or measured categories.

Previous infill drilling has produced a conversion rate of approximately 95%. Indicated and measured mineral resources can be converted into probable and proven ore reserves respectively, subject to appropriate modifying factors.

The drilling will combine reverse circulation and diamond core methods to a depth of about 120m below surface.

Kingsland recently completed a metallurgical drilling program comprising three PQ size diamond holes for a total of 379m, located within the scoping study pit design.

The drill core has been transported to Perth for detailed metallurgical test work to refine crushing, grinding and flotation parameters, with consultants Independent Metallurgical Operations and GR Engineering Services now finalising the test program.

Some of the drill core will also provide raw material for continued investigations into gallium and rutile extraction from the graphitic schist.

A sample from hole LEM002 at 23.6m depth shows graphite, mica, silica and feldspar in varying proportions, although the company emphasises that visual estimates should not be considered a proxy for laboratory analyses.

Hole LEM002 is positioned within 10m of a previously reported interval of 72m @ 9.21% TGC, including 20m @ 13.14% TGC.

The Leliyn Mineral Resource stands at 192.5mt @ 7.3% TGC, comprising 12.3mt @ 7.9% TGC indicated and 180.2mt @ 7.2% TGC inferred, and with only 4.2km of the 18km strike length drilled to date the company notes significant potential for mineral resource growth.

An exploration target of 700-1,100mt @ 7-8% TGC has been defined, although it remains conceptual with insufficient exploration to estimate a mineral resource.

Kingsland Minerals outlines a structured development pathway, with the economic viability of producing 94% TGC graphite concentrate and the viability of producing purified spherical graphite already established.

The company will now advance the PFS and provide results to Quinbrook as Quinbrook continues to investigate a processing facility in Darwin.

Beyond technical work, environmental studies are scheduled to begin soon, including flora, fauna and surface hydrological surveys, while the mining lease application is also progressing with communication underway with the Northern Land Council, representing the Native Title claimants.

The company recently secured $2.1m through a capital raise and share purchase plan to fund the PFS, the initial environmental studies and the 2026 infill drilling program.

Kingsland Minerals continues to advance Leliyn through a systematic sequence of metallurgical, geological and permitting work as it aligns the upstream project with the downstream interests of its offtake partner.

The commencement of Quinbrook’s test program and the start of the PFS mark material progress in defining the technical and commercial parameters of one of Australia’s largest graphite resources, with further drilling and environmental assessment set to shape the project’s next phase.

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