- Kingfisher Mining (KFM) receives “exceptional” rock chip assay results which confirm the regional-scale potential of the Mick Well project in Western Australia
- The outcropping mineralisation was defined over a strike length of more than 800 metres, with sampling returning up to 21.13 per cent total rare earth oxides (TREO)
- The identification of outcropping mineralisation significantly adds to Kingfisher’s understanding of the geology of the project area
- The company is currently carrying out extensive and targeted exploration programs at its portfolio of Gascoyne projects
- Shares in Kingfisher Mining were up 14.58 per cent to $0.28 as of 1:23 pm AEST
Kingfisher Mining (KFM) has received “exceptional” rock chip assay results from carbonite dykes, confirming the regional-scale potential of it Mick Well project in Western Australia’s Gascoyne mineral field.
The outcropping mineralisation was been defined over a strike length of more than 800 metres, within a broad zone where two additional parallel carbonatite dykes with REE mineralisation.
This includes exceptional grades, with laboratory assays of 21.13 per cent total rare earth oxides (TREO), including 3.59 per cent neodymium oxide and praseodymium oxide at MWGS0484. MWGS0465 also returned 14.29 per cent TREO with 2.23 per cent neodymium oxide and praseodymium oxide.
Executive Director and CEO James Farrell said the discovery of the mineralisation is a very exciting development of the company.
“The high grade assay results exceed our expectations and have led to the further identification of numerous new targets over a large area at Mick Well,” Mr Farrell said.
“As our work expands along our 54-kilometre target corridor, the new targets will be progressively assessed as we continue to increase our fieldwork over the coming months.”
Mr Farrell also said the company is eagerly awaiting the results from its follow-up drilling at the discovery target, MW2.
The identification of outcropping mineralisation has significantly added to Kingfisher’s understanding of the geology of the project area, the company said.
It has also confirmed the effectiveness of airborne radiometrics and magnetics for targeting on-ground mapping and the subsequent successful discovery of outcropping mineralisation.
The company is currently carrying out extensive and targeted exploration programs for its Gascoyne projects in the year.
It is also simultaneously planning to develop a pipeline of exploration opportunities through integrating current and planned tenement-scale airborne geophysical surveys with geological knowledge from the company’s REE discovery at Mick Well.
Shares in Kingfisher Mining were up 14.58 per cent to $0.28 as of 1:23 pm AEST.