Kingfisher Mining Limited (ASX:KFM) has received positive new rock chip results from the high grade REE mineralization discoveries at its wholly owned projects in the Gascoyne Mineral Field in Western Australia.
The results further expand the mineralisation strike at MW2 and MW7 and discovering further high grade mineralization at the Kingfisher Prospect approximately 15km east of MW2.
“We are excited to announce another high grade REE discovery at the KF3 target at our Kingfisher Project. The discovery confirms the potential for additional high grade mineralization discoveries as we advance along our 54km Chalba REE corridor east of Mick Well,” Executive Director and CEO, James Farrell, said.
“Our Mick Well discoveries are continuing to grow. So far a mineralization strike length of 1.5km has been identified at MW7 and it is still open. First pass drilling is now planned for April this year, together with infill and extensional drilling at our first discovery, MW2.
“Our field work is set to recommence shortly and we are very excited to continue with the delineation and potential further discoveries as we work along our combined 80km target corridor on the Chalba and Locker shears.”
High grade REE mineralisation has been discovered at the new KF3 target, with a single sample consisting dominantly of monazite returning 32.16% TREO with 5.25% Nd2O3 + Pr6O11.
The sample was collected as part of the Company’s regional geological mapping and is associated with a distinct magnetic feature and a broad area of fenite alteration (the alteration associated with the intrusion of carbonatites) that extends over a strike of five km and is more than 500m in width. Follow-up mapping focused on delineating the mineralization will be completed as a high priority when fieldwork recommences this Quarter.
On-going mapping at MW2 has led to the discovery of additional high grade outcropping monazite-rich mineralization. The newly identified mineralization lies along strike from the mineralization in a 300m wide zone targeted by recent drilling. New high grade results from the strike extensions to MW2 include:
• 30.83% TREO with 5.10% Nd2O3 + Pr6O11 (MWGS1491)
• 15.25% TREO with 2.49% Nd2O3 + Pr6O11 (MWGS1499)
• 14.59% TREO with 2.44% Nd2O3 + Pr6O11 (MWGS1498)
• 10.12% TREO with 1.62% Nd2O3 + Pr6O11 (MWGS1490)
• 9.15% TREO with 1.50% Nd2O3 + Pr6O11 (MWGS1500)
Gascoyne Exploration Programme
Kingfisher carried out extensive and targeted exploration programmes for its Gascoyne projects during 2022. The company’s exploration work is cost-effective and is aiming to develop and test drill targets from ground-based mapping and rock sampling. The company is also simultaneously developing a pipeline of exploration opportunities through integrating tenement-scale airborne geophysical surveys with geological knowledge from the Company’s breakthrough REE discovery at Mick Well. The geophysical survey from the 54km Chalba corridor is an important part of this generative work.
Planning is well advanced for the company’s exploration activities for 2023 at its Gascoyne projects. It is envisaged the 2023 exploration activities will include drilling at MW2, MW7, MW8 as well as substantial project generation work across the 54km target corridor, including the CH1 to CH 10 targets as well as the Arthur River and Mooloo projects. The 2023 exploration activities are also likely to include airborne geophysics across the Mooloo project. The company’s exploration plans for 2023 will be announced shortly.
For further information please visit: https://www.kingfishermining.com.au/