Kingsland Minerals (ASX:KNG) said drilling results at its Leliyn graphite project in the Northern Territory support resource upgrades and future studies, according to a Thursday Australian bourse filing.
Infill drilling for indicated mineral resources at the Leliyn graphite project returned 120 metes at 9.2% total graphitic carbon from the surface, including 24 meters at 13.6% TGC from 94 meters, the filing said.
The planned program of 25 reverse circulation holes totaling 3,000 meters was curtailed by the onset of a wet season, with several holes to be drilled in 2025.
The indicated mineral resources, along with the current inferred resources, will form the basis of a scoping study assessing the economic viability of producing a flake graphite concentrate.
Production of a bulk graphite concentrate sample is nearing completion and the total test-work program is anticipated to take about 5 months.
The firm's shares rose over 8% in early trading on Thursday.
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