Diamond drilling got off to a promising start in August and continues to get better in terms of width and grade with the latest assays headlined by 206m at 10% total graphitic carbon from surface, including 46m at 12.2% from 31m.
Other results were 209m at 7.4% from 154m, including 38m at 11.2%, and 64m at 8.7% from 11m, including 32m at 10.9%.
Managing director Richard Maddocks said the bonanza grade hits, and shallow nature of the mineralisation suggested Leliyn would be in demand as a source of graphite battery anode material.
The thickest intersections were drilled at the north-western extremity of the 5km long drilling area, just part of a 20km strike of graphitic schist host rock. It remains open along strike and at depth.
Kingsland said the thickest holes nearly drilled through the entire width of the schist, suggesting the true width is now at least 150m, up from 100m.
Two RC holes were drilled about 200m along strike to the north-west and, while completed in sub-optimal locations due to the topography, also encountered mineralisation, such as 19m at 9.02% TGC from surface, over 83m at 5.02% from 35m, indicating the position of the northern contact between the graphitic schist and hornfelsed meta-sediments.
Core from the diamond holes will be used to for metallurgical tests to produce a graphite concentrate.
Petrographic analysis is also being undertaken to provide indications of mineralogy and flake size.
Kingsland listed on the ASX in mid-2022 with a uranium focus, but discovered Leliyn within its Allamber project in February, building on historical uranium drilling that was not targeting graphite.
It has set a conservative exploration target of 200-250 million tonnes at 8-11% TGC for the area drilled so far.
The company’s 5.2 million pounds of contained uranium inferred resource at Cleo is just to the west of Leliyn.
Kingsland shares were up 33% today at 25c, capitalising it at $11 million.
