Kingsland Minerals : Successful ASX Listing

About this update from Kingsland Minerals Ltd.

only Kingsland Minerals completes IPO and lists on ASX with high grade Uranium projects in the Northern Territory of Australia • Kingsland Minerals (ASX:KNG) successfully lists on ASX and raises $4.7m • use • • • Assumes 100% ownership of exciting Uranium, Copper and Gold Projects in the Pine Creek region of the Northern Territory (NT) Appointment of highly experienced uranium exploration and resource geologist, David Princep (ex Paladin Energy Ltd) in advisory role Drilling to commence shortly targeting Uranium in the NT Significant historical Uranium drill results at the Allamber Project include: personal - 42m at 611 ppm U₃O₈ from 97m (TAL062RC) incl: ▪ 8m at 1,579 ppm U₃O₈ from 99m ▪ 3m at 1,347 ppm U₃O₈ from 124m - 23m at 1,318 ppm U₃O ₈ from 86m (TAL079RC) incl: ▪ 5m at 3,169 ppm U₃O₈ from 102m - 49m at 787 ppm U₃O ₈ from 58m (TAL0107RC) incl: ▪ 17m at 1,286 ppm U₃O ₈ from 78m - 18m at 932 ppm U₃O ₈ from 70m (TAL108RC) incl: ▪ 4m at 2,600 ppm U₃O₈ from 82m ▪ 13m at 251 ppm U₃O₈ from 123m • Significant historical Uranium drill results at the Bella Rose Project include: - 6m at 1,199 ppm U₃O₈ from 79m (TPCRC106) incl: ▪ 1m at 5,230 ppm U₃O ₈ from 80m ▪ 2m at 636 ppm U₃O₈ from 113m ▪ 1m at 210 ppm U₃O₈ from 161m For Kingsland Minerals Ltd (ASX:KNG) (Kingsland or Company) is pleased to announce that it has successfully raised $4.7m and has been accepted for admission to the official list of the Australian Stock Exchange (ASX). Shares in Kingsland will begin trading on 14 June 2022 at 11:00 AM (WST). The Initial Public Offering (IPO) has raised $4.7m through the issue of 23.5m shares at an issue price of $0.20. The total undiluted shares on issue at the date of listing in 37.4m with KNG having a Market Capitalisation of $7.5m and an Enterprise Value (EV) of $2.7m. Kingsland has accumulated an exciting package of tenements in the Northern Territory and Western Australia that are highly prospective for Uranium, Copper, Gold and Nickel. Exploration will commence shortly in the Northern Territory and Western Australia. Approvals to drill have been obtained for the Lake Johnston Project in Western Australia and are in the application process for projects in the Northern Territory. ALLAMBER URANIUM PROJECT only The Allamber Uranium Project contains historical drilling targeting Uranium dating from the early 1980's when uranium mineralisation was first discovered. Exploration has been focussed on an embayment in the Cullen Granites (Figures 1 and 2). Reverse circulation (RC) and Diamond core drilling by previous explorers has delineated broad, high grade drill intersections of U₃O₈ at the Twin, Dam and Cliff South prospects. use personal Figure 1: Kingsland Minerals Allamber Project Kingsland Minerals has designed drilling programs to firstly confirm the historical drill results and For secondly to extend the known mineralisation. The focus will be to collect data and information and to delineate additional uranium mineralisation to ultimately enable the estimation of a Mineral Resource Estimate. Uranium mineralisation has been found to be associated with thin felsic/granitic dykes intruded into the hosting carbonaceous sediments of the Masson Formation. Figure 2 shows a more detailed map of the geology in the embayment within the Cullen granites. Several radiometric anomalies are shown with a majority of drilling to date focussed on Twin, Dam and Cliff South. The area is under explored and Kingsland will prioritise the exploration of this prospective area. use only personal Figure 2: Allamber Uranium Prospects Twin Uranium Prospect The Twin deposit is located in a strongly folded syncline of Lower Protoerzoic metasediments enclosed and intruded by dykes of Cullen granite. The lithologies forming the syncline include a basal psammite, quartzites and sericite-chlorite schists. The unit is overlain by a thick sequence of For carbonaceous shales which, when affected by faulting, become graphitic and chlorite schists. The carbonaceous shale sequence contains interbedded dolomite lenses. The uppermost unit exposed at the Twin deposit is a coarse-grained quartzite which occupies the core of the syncline. The Twin syncline has been strongly faulted, with faults trending parallel to the axial plane of the syncline. These faults have become the loci of subsequent intrusion by late phases of the Cullen granite. The uranium mineralisation is also concentrated within these faults. A secondary, later, fault system, oblique to the axial plane of the syncline, has displaced both the stratigraphy and the earlier fault system. The later faults do not appear to be mineralised. Mineralisation at Twin is both primary and secondary, with remobilisation and redeposition of the uranium minerals having taken place at or near the water table. For personal use only Figure 3: Schematic cross section through Twin Table 1: Significant Drill Intersections Twin Prospect Width only Hole From (m) To (m) (m) U₃O₈ ppm TRC707 52 55 3 252 and 52 56 4 342 TRC708 32 60 28 709 inc 32 42 10 1,489 TRC713 32 36 4 285 and 47 50 5 487 TRC716 0 10 10 237 and 28 32 4 432 use TRC718 0 19 19 269 TRC721 22 26 4 231 TRC722 40 60 20 627 inc 51 57 6 1,336 TRC730 42 47 5 1,220 inc 45 47 2 2,595 TRC734 47 54 7 793 personal inc 47 50 3 1,431 TRC735 44 47 3 858 and 54 57 3 370 TRC736 16 31 15 242 TRC737 23 31 8 680 inc 23 25 2 1,012 and 45 48 3 851 TRC738 30 53 23 749 inc 37 43 6 1,618 TRC739 33 38 5 773 and 43 48 5 488 TRC740 17 29 12 201 and 39 48 9 243 TRC741 39 47 8 412 and 51 58 7 301 TRC744 30 33 3 282 and 50 51 1 1,100 TRC748 0 14 14 321 For TRC754 21 28 7 418 Dam Uranium Prospect Mineralisation at the Dam deposit occurs higher in the stratigraphic sequence than at Twin. A large proportion of the lower units of the syncline have been adsorbed into the Cullen granite, particularly to the west. At the Dam deposit, mineralisation is more widely spread through the stratigraphy. There is also less evidence for secondary concentration of mineralisation at or near the water table. The syncline at Dam is much broader and the dip of the sediments not as steep as Twin. The later, oblique faulting is better defined and both groups of faults host uranium mineralisation. This is an excerpt of the original content. To continue reading it, access the original document here .

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