Kingfisher Mining (ASX:KFM) reports that it has commenced large-scale airborne geophysical surveys at its 100% owned Gascoyne rare earth element (REE) and Ashburton copper-gold projects in Western Australia.
The geophysical surveys include a total combined distance of 16,300 line kilometres across the Mick Well, Kingfisher and Arthur River projects in the Gascoyne and Boolaloo copper-gold project in the Ashburton Basin to aid in defining a large pipeline of targets across the extensive tenure.
The surveys are expected to be completed by mid-October.
Addressing the surveys, Kingfisher’s Executive Director and CEO James Farrell, commented: “It’s great to have the airborne geophysics survey at our Gascoyne projects underway. Airborne magnetics and radiometrics are an essential tool for targeting REE mineralisation and will allow us to develop new targets across our extensive Gascoyne tenement package.
“Airborne magnetics and radiometrics are an essential tool for targeting ree mineralisation and will allow us to develop new targets across our extensive gascoyne package”
We have also engaged the airborne geophysical contractor to extend and infill the existing high resolution magnetics and radiometrics at our Boolaloo copper-gold project in the Ashburton Basin, with the survey expected to provided valuable information about the extensions of the structures which host mineralisation at Copper Strike, Green Hills and K16.
We anticipate the surveys to be completed by Mid-October with high-priority targeting work for the Gascoyne REE mineralisation to commence immediately.”
The company also notes that the airborne survey at Mick Well and Kingfisher projects will extend the high-resolution radiometrics and magnetics coverage across the outstanding 26km of strike of the 54km target corridor.
The Billaloo survey has commenced with a similar goal of extending the existing survey along a 30km long target corridor, which is host to structurally controlled sediment hosted copper-gold mineralisation.
It is the company’s belief that the airborne surveys will also deliver the first high-resolution data for the Arthur River project, where anomalies have been interpreted in the regional geophysics data.
In addition, Kingfisher also hopes to list its loyalty option on the ASX, with one loyalty option available for every five shares held at the record date and will be open to all eligible shareholders.
Kingfisher Mining is an ASX listed mineral exploration company committed to increasing value for shareholders through the acquisition, exploration and development of mineral resource projects throughout Western Australia. The company’s Western Australian portfolio consists of multiple tenements that cover a total land holding of 1,676km-square in the under-explored Gascoyne and Ashburton Mineral Fields.
With the surveys now underway, Kingfisher announces that it will move forward with target generation work once all survey results are finalised.
Images: Kingfisher Mining Ltd
