Kingston Resources Ltd (ASX:KSN) has been granted two tenements within the Bynoe Pegmatite Field, one of the largest and economically important pegmatite fields in the Northern Territory.
The tenements are located at the northern end of the Bynoe Pegmatite Field, within a historic tin-tantalum field that has been identified as a new lithium exploration region.
This area will be an immediate target for near term exploration, including rock chip sampling and soil sampling with an aim to identify drilling targets.
Kingston’s Bynoe project is strategically located with sealed road access to the tenements and 1-hour drive from the Darwin International airport.
Importantly, Kingston could benefit from freight cost saving via access to the multi user facility of Darwin Port, Australia’s nearest port to Asia.
Kingston now controls one of the largest lithium tenement portfolios in the Northern Territory, with over 2,000 square kilometres of tenure at Bynoe, Wingate and the Northern Arunta.
The company is expecting the majority of the remaining Bynoe applications to be granted in the coming months.
Incidentally, Kingston is also carrying out soil sampling, mapping and rock chip sampling at the Mt Cattlin lithium project in Western Australia.
Kingston’s share price has increased by about 44% since the start of 2016.
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