Shares for Kingsland Minerals saw an increase of 8.5%, going up to A$0.255, making their most substantial daily percentage escalation since September 5.

The surge came after the mining firm discovered promising gallium assays with strong grades spanning significant widths at its Leliyn graphite project in the Northern Territory.

Leliyn is gradually becoming a significant graphite resource, with intercepted mineralisation spanning a 5 kilometer corridor, as per the company’s statement.

Furthermore, Kingsland Minerals recently submitted a sample of graphitic schist for graphite metallurgical test-work from the project.

Kingsland Minerals stock has experienced a 56.7% rise year to date as per the last close.

Kingsland Minerals is a mining company focussed on the exploration and production of various mineral resources.