Kingsland Minerals' Leliyn graphite project in the Northern Territory is rapidly emerging as a major graphite discovery following the return of the first assay results.
Results out of the first two drill holes has confirmed Kingsland Minerals' (ASX:KNG) Leliyn graphite project is a high-grade project, which given the extensive length of the graphitic schist unit already identified, has immense growth potential.
Some of these new results include 45m at 9% from surface, 28m at 11.1% from 55m, and 25m at 10.1% also from surface.
There are currently two rigs drilling on site with assay results expected regularly over the coming months.
A total of 18 RC holes for 1,980m has been completed to date.
"This is only the beginning of what we believe will be a significant high grade, tier-one graphite project," KNG managing director Richard Maddocks says.
"These assay results are entirely consistent with the large Exploration Target.
"The drilling and these initial assays underpin our confidence that we are really onto something big."
Maddocks adds the company knows it has a lot of graphitic schist and is now getting very good evidence of high grades as well.
"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," he says.
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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.
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