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Be the first with the news that moves the market- Kingfisher Mining (KFM) completes drilling at two of its projects in the Gascoyne Mineral Field in Western Australia
- The company drilled 18 reverse circulation holes at the Mick Well and Kingfisher projects to test eight targets
- The majority of the drilling was completed at the MW2 target which aimed to define the dip and strike of the calcite-magnetite-apatite veins and rare earth element minerals
- KFM sent samples to the lab for analysis and expects results from MW2 in June with results for the remaining targets expected in July
- Kingfisher ends the day 11.4 per cent in the green with shares trading at 24.5 cents
Kingfisher Mining (KFM) has completed drilling at two of its projects in the Gascoyne Mineral Field in Western Australia.
The company drilled 18 reverse circulation (RC) holes at the Mick Well and Kingfisher projects to test eight targets.
The majority of the drilling was completed at the MW2 target where Kingfisher made a previous discovery of 12 metres at 1.12 per cent total rare earth oxides (TREO) including four metres at 1.84 per cent TREO.
Drilling at MW2 was designed to define the dip and strike of the calcite-magnetite-apatite veins and rare earth element bearing minerals.
Kingfisher has sent samples to the lab for analysis and expects results from MW2 in June. It expects results for the remaining targets in July.
Further, the materials stock completed five ground-based radiometric surveys across five targets and compared the results to an airborne magnetics survey completed in 2021.
Results from the ground-based survey showed a good correlation with the airborne survey, however, no significantly better geological information was offered.
“We’re very pleased to have completed follow-up drilling at MW2, together with maiden drilling for REEs at several other targets, just four months after we announced the discovery of REEs at Mick Well,” CEO and Executive Director James Farrell said.
“Our team is back at Mick Well this week mapping and sampling; work which will be
greatly assisted by the geological knowledge we have gained from the new drilling.”
Kingfisher has ended the day 11.4 per cent in the green with shares trading at 24.5 cents.
