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- Kingfisher Mining (KFM) begins a follow-up drill program at its MW2 prospect in the Gascoyne Mineral Field in Western Australia
- Seven reverse circulation holes will be drilled to follow up a previous drilling program that intersected 5.21 per cent TREO with 0.98 per cent neodymium oxide and praseodymium
- Drilling is expected to take one week to complete with results to be announced in early September
- Simultaneously, Kingfisher plans to develop a pipeline of exploration opportunities through integrating treatment-scale airborne geophysical surveys
- Kingfisher was down 12 per cent on the market with shares trading at 22 cents at market close
Kingfisher Mining (KFM) has begun a follow-up drill program at its MW2 prospect in the Gascoyne Mineral Field in Western Australia.
Seven reverse circulation holes, for roughly 750 metres, will be drilled to follow up high-grade rare earth elements (REEs) intersected in previous drilling programs.
Results from this work include five metres at 3.45 per cent total rare earth oxides (TREO) with 0.65 per cent neodymium oxide and praseodymium, including three metres at 5.21 per cent TREO at 0.52 per cent TREO with 0.98 per cent neodymium oxide and praseodymium.
These results confirmed a second zone of mineralisation that has the same geology as previously reported outcropping mineralisation 500 metres northwest of MW2 that intersected up to 21.13 per cent TREO.
Drilling is expected to take one week to complete with results to be announced in early September.
Simultaneously, Kingfisher plans to develop a pipeline of exploration opportunities through integrating treatment-scale airborne geophysical surveys.
“We leapt at the opportunity to follow up the impressive drilling results that have already been returned from MW2 and drilling is now underway,” CEO and Executive Director James Farrell said.
“The recently discovered high-grade REE mineralisation that extends over a strike length of 800 metres and is located 500 metres north of MW2 could not be included in this program due to the narrow window of drill rig availability. We anticipate that this mineralisation will be included in our next drilling program.
“This drilling campaign will provide valuable information ahead of the larger program
locked in for later in the year which will incorporate existing and new targets being defined by our ongoing regional exploration across the Chalba Shear.”
Kingfisher was down 12 per cent on the market with shares trading at 22 cents at market close.
