Kingsland Minerals (ASX:KNG) has released the first resource estimate for its Leliyn Graphite Project in the Northern Territory, hinting that the deposit it reveals could be the largest of its kind in Australia, and one of the world’s largest overall.
The maiden estimate showed an inferred 194,600,000 tonnes, with grade TGC set at 7.3 percent, for 14,200,000 tonnes containing graphite.
Crucially, this was based on work done on only 4 kilometres of the total 20 km outcropping of graphitic schist on which the project is built.
The company is now progressing metallurgical test-work to confirm commercial grade concentrate, and has planned an infill drilling program during the June quarter of 2024 to check Leliyn’s geological continuity and metallurgical characterisation.
Kingsland Minerals managing director, Richard Maddocks said the size of the estimated resource – plus market demand – would ensure the project’s high profile into the future.
“We are very pleased with the maiden Mineral Resource at Leliyn. In less than 12 months Kingsland Minerals has delineated the largest graphite deposit in Australia and also one of the largest in the world,” he said.
“The demand for graphite is only going to increase and Kingsland is very well placed to develop Leliyn into a globally significant graphite project.
“The initial metallurgical test-work is progressing and this, along with the MRE, are important initial steps in developing Leliyn into an important critical minerals project in the Northern Territory.”
Work to develop the estimate included reverse circulation (RC) on 51 holes and diamond drilling (DD) on 11 holes.