Kingsland Minerals - June 2024 Quarterly Report Highlights
KINGSLAND MINERALS LTD (KNG) Share Update July 2024 Monday 29th
Kingsland Minerals Reports Significant Progress in Leliyn Graphite Project
Kingsland Minerals (ASX: KNG) has released its June 2024 quarterly report, showcasing substantial advancements in its Leliyn Graphite Project, including the production of high-grade graphite concentrate and an updated exploration target.
Instant Summary:
- Produced commercial-grade graphite concentrate with over 94% TGC.
- Updated Exploration Target for Leliyn Graphite Project indicates significant potential.
- Soil sampling at Lake Johnston reveals substantial lithium anomalies.
Quarterly Report Overview
Kingsland Minerals has made notable strides in the June 2024 quarter, particularly with the Leliyn Graphite Project. The company successfully produced a graphite concentrate with a grade exceeding 94% TGC (Total Graphitic Carbon). This achievement marks a critical milestone, demonstrating the project's capability to generate a marketable product.
Further test-work is planned, with a larger 150kg sample to be collected in the September quarter to produce a bulk concentrate sample for additional testing aimed at producing battery-grade spherical graphite. The positive metallurgical results have led to an updated Exploration Target for Leliyn, highlighting the project's significant upside potential.
Exploration Target and Resource Estimate
The updated Exploration Target for the Leliyn Graphite Project now encompasses a 12km strike length of graphitic schists north of the existing Mineral Resource Estimate. The new target estimates between 700 million and 1.1 billion tonnes at grades of 7% to 8% TGC, containing 50 to 90 million tonnes of graphite.
This update underscores Leliyn's status as Australia's largest graphite deposit, with an Inferred Mineral Resource of 194.6Mt @ 7.3% TGC, containing 14.2Mt of graphite. The project's comparison with other global graphite deposits positions Leliyn as a top-tier asset in a premier jurisdiction.
Metallurgical Test-Work
Metallurgical test-work on the Leliyn Graphite Project has yielded promising results. A master composite (MC2) was created from diamond drill holes representing potential open pit mining material. The optimum flotation tests produced a concentrate grade of over 94% TGC with recoveries exceeding 80%, confirming the presence of fine flake graphite.
A larger sample of approximately 150kg will be collected during the September quarter to generate a bulk concentrate sample for further testing to assess the feasibility of producing battery-grade spherical graphite.
Lake Johnston Lithium Project
Soil sampling at the Lake Johnston Lithium Project in Western Australia has identified significant soil anomalies with lithium concentrations exceeding 100 ppm Li₂O over a 13km x 4km area. This discovery highlights the project's potential for lithium mineralization, adding to Kingsland's portfolio of future energy mineral commodities.
The production of high-grade graphite concentrate and the updated exploration target for the Leliyn Graphite Project are significant milestones for Kingsland Minerals. These developments are likely to positively impact the company's stock as they demonstrate the project's potential to produce commercially viable graphite products. The identification of substantial lithium anomalies at Lake Johnston further enhances the company's prospects.
Investor Reaction:
Investors and analysts have reacted positively to the news, noting the high-grade graphite concentrate and the updated exploration target as key achievements. The potential for battery-grade spherical graphite production and significant lithium anomalies at Lake Johnston has generated optimism about Kingsland Minerals' future prospects.
Conclusion:
Investors should closely monitor Kingsland Minerals' upcoming test-work and exploration activities, particularly the efforts to produce battery-grade spherical graphite. The company's strategic advancements position it well for future growth in the energy minerals sector.