Kingfisher Mining Limited’s (ASX:KFM) latest drill results from MW2 at its wholly-owned projects in the Gascoyne Mineral Field in Western Australia have confirmed the discovery of new high-grade continuous REE mineralization.
“The latest drill results have confirmed continuous high grade rare earth elements across the entire strike length of the drilled target and significantly, the target mineralization remains open along strike and at depth,” Executive Director and CEO, James Farrell, said.
“This is a great outcome and follows on from the initial discovery of outcropping mineralization at MW2 just six months ago, and it is only 12 months since our initial break-through REE discovery in the Mick Well area.
“The results confirm the Chalba Shear as the next large-scale REE target zone in the Gascoyne, which is a separate parallel shear approximately 100km south of the Lyons River Shear that hosts Hastings’ world-class Yangibana Project that is currently under construction and the exciting REE discoveries by Dreadnought Resources at their Mangaroon Project. “Significantly, MW2 is only one of many identified targets along the company’s extensive 54km Chalba corridor and there is potential for additional mineralization discoveries and growth for the company as our methodical exploration advances further along the shear.
The drilling programme has provided a wealth of important geological information for our on-going exploration.
“The wide fenite alteration zones, associated with the intrusion of carbonatites, is an indication of a potentially very large mineral system.
“We are now focused on finalizing our exploration plan for 2023 ahead of the upcoming field season. Apart from our expansive on-going exploration activities in confirming additional mineralization along our extensive target corridors, we have already booked a drill rig for infill and extensional drilling at MW2, particularly for the mineralization in the southwest, where the current drilling is wide-spaced and there is potential to extend the mineralization along strike and down-dip.
“Maiden drilling has also been planned at MW8 and in particular, MW7, where mapping and sampling has identified continuous mineralization at surface over a strike length of 1.5km further to the northwest along the Chalba Shear.”
MW2 Ongoing Exploration
The latest MW2 drilling programme builds on the company’s developing geological understanding of the REE mineralization at Mick Well and along the entire length of the Company’s 54km Chalba REE mineralization corridor. The mineralization intersected in drilling at MW2 occurs dominantly as veins within faults and shears. The company interprets the source of the vein mineralization to be the intrusion of carbonatite pipes or plugs; an interpretation that is consistent with the carbonatite mineralization exploration model
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