The NT Independent is providing an update of resource news from across the Northern Territory. Highlights this week include KNG’s Leliyn project evolving as a key graphite discovery, FYI partners with IHC for the Minhub Rare Earths-Zircon Project, MetalsGrove hits high-grade rare earths at Arunta, and Tamboran set to issue over five million shares to fund Beetaloo Basin project.

Kingsland’s Leliyn project emerging as a major graphite discovery

Kingsland Minerals’ (KNG) Leliyn project in the NT is evolving as a key graphite discovery, just as promising electric vehicle (EV) sector demand begins to go up, the company said. The drilling program, which started in May, aims to upgrade a larger exploration target for graphite.

The results consistently grade more than 10 per cent of Total Graphitic Carbon (TGC) with wide intersections pointing to substantial tonnages. KNG said the latest “exceptional” batch of assays points to a substantial high-grade graphite discovery at Leliyn.

“These latest results further reinforce the potential of Leliyn. The thick, high-grade graphite intersections from the surface set this deposit apart. The drilling keeps extending the grade, strike and tonnage potential of Leliyn,” MD Richard Maddocks said.

KNG said initial metallurgical work is focusing on flotation characteristics to assess flotation concentrate grades and recoveries. It will also determine the optimal end-use for the graphite concentrate—as well as its suitability for and its suitability EV batteries.

FYI Resources collaborates with IHC Mining for Minhub Rare Earths-Zircon Project

FYI Resources Ltd (FYI) has partnered with IHC Mining (IHCM) for the initial test work and engineering studies for the proposed mineral processing plant (MSP) at the Minhub Rare Earths-Zircon Project in the NT. Initial tests and studies will initially consider the processing of three third-party mineral sand feedstocks (monazite and xenotime) which contain significant rare earths.

A full feasibility study will follow the initial test work and engineering studies that are expected to be completed by March of next year, which will be followed by Front End Engineering and Design (FEED). Subject to a positive feasibility study and satisfactory completion of FEED, IHCM will be the preferred contractor for the delivery of the mineral separation plant at the Minhub Project.

MetalsGrove hits high-grade rare earths at Arunta

MetalsGrove Mining Ltd (MGA) has confirmed high-grade rare earth element (REE) carbonatite mineralisation of up to 7,000 parts per million (ppm) total rare earth oxide (TREO) during reverse circulation (RC) drilling at the Arunta Project’s Bruce Prospect in the NT. Drilling also showed that the carbonatite outcrops extend east-west over 9 kilometres and remain open. The news lifted MGA shares by 63.7 per cent.

“These results demonstrate the clear potential for Bruce to host a considerable carbonatite and REE system with the outcropping strike of now extending over 9 kilometres. The Bruce Prospect is shaping as an excellent opportunity for MGA and demonstrates the underlying exploration potential of our Arunta Project area in the Northern Territory – a region home to several world-class deposits,” MetalsGrove managing director Sean Sivasamy said.

Tamboran set to issue over five million shares to fund the Beetaloo Basin project

Tamboran Resources Ltd. will float 5,027,430 shares in yet another fundraising effort for its Beetaloo Basin project. Priced at $0.18 each, the issuance will be worth $905,000. The funds will be utilized for exploration and development in its 1.9 million net acreages in Beetaloo.

“The funds from the placement, together with the earlier capital raise, will support drilling activity, fully satisfy the farm-in commitments associated with the Origin transaction in 2022 (securing a 38.75 per cent interest in EPs 76, 98 and 117) and enable the company to book initial 2C gas resources over the Shenandoah South area”, Tamboran said.