Kingsland rules as EM survey hints that early expectations are on the money
Kingsland has bolstered its confidence in the potential of the Leliyn graphite project in the NT after receiving highly promising results from an EM survey.
The ground electromagnetic survey found that the dimensions of the target graphitic schist, which is currently the subject of drilling, are entirely consistent with the large exploration target of 200-250Mt at 8-11% Total Graphitic Carbon (TGC) for 16-27Mt of contained graphite.
Adding further interest for Kingsland Minerals (ASX:KNG), the survey returned a high EM response over areas which have yet to be drilled that are similar to areas where drill holes had intersected significant graphite.
The company also noted that the three survey lines to the northwest did not extend far enough to survey the interpreted graphitic schist unit and may be extended at a later date.
“The EM survey clearly illustrates the dimensions and tonnage potential of the graphitic schist at Leliyn,” managing director Richard Maddocks said.
“RC drilling is confirming the width of the graphitic schist unit and we are eagerly awaiting assay results.”
The drill program is already off to a flying start with the company noting late last month that the first four RC holes had intersected significant widths – up to 150m – of graphitic schist at both the eastern and western ends of the 5km long target.
Not only does this validate the company’s interpretation that thick intervals of graphitic schist are present at Leliyn, it also indicates good continuity of mineralisation along the target zone.
Success here will be hugely significant for the company as the 5km long target zone represents just a fourth of the known length of graphitic schists within the project.
This article was developed in collaboration with Kingsland Minerals, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.