Mineral exploration company Kingfisher Mining (ASX:KFM) has further expanded the mineralisation strike at the namesake rare earth element (REE) Project located in the Gascoyne Mineral Field in Western Australia.
The company says this expansion is due to ‘high-grade’ REE rock chip samples at the MW2 and MW7 prospects, as well as discovering further ‘high-grade’ mineralisation at its namesake prospect about 15km east of MW2.
Kingfisher says ‘high-grade’ REE mineralisation has been discovered at the new KF3 target, with a single sample consisting dominantly of monazite returning 32.16% total rare earth oxides (TREO) with 5.25% neodymium oxide plus praseodymium oxide (Nd2O3 + Pr6O11).
This 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 that extends over a strike of 5km, and is more than 500m in width. Follow-up mapping focused on delineating the mineralisation will be completed as a high-priority when fieldwork recommences in Q1 2023.
Planning is well advanced for Kingfisher’s 2023 exploration activities at its Gascoyne projects. These activities will include drilling at MW2, MW7, and MW8, as well as ‘substantial’ project generation work across the Chalba target corridor, the Arthur River Project, and the Mooloo Project.
“We are excited to announce another high-grade REE discovery at the KF3 target at our Kingfisher Project”
Commenting on the mineralisation expansion, Kingfisher Mining Executive Director and Chief Executive Officer (CEO) James Farrell says: “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 mineralisation discoveries as we advance along our 54km Chalba REE corridor east of Mick Well.
Our Mick Well discoveries are continuing to grow. So far a mineralisation strike length of 1.5km has been identified at MW7 and is still open. First pass drilling is now planned for April this year, together with infill and extensional drilling at our first discovery, MW2.”
Kingfisher reports ongoing mapping at MW2 has led to the discovery of additional ‘high-grade’ outcropping monazite-rich mineralisation. The company says this newly identified mineralisation lies along strike from the mineralisation in a 300m wide zone targeted by recent drilling, with the latest mapping extending the strike of the zone by 500m to be more than 2km.
The company reports MW7 is now drill ready, and design work is already underway for the maiden drilling program at the prospect expected to begin in mid-April 2023.
The current mapping and rock chip sampling work is targeting a number of laterally-extensive ‘high-priority’ targets in a broad area that extends 10km west-northwest from MW2. The targets in this area are also associated with carbonatite complexes as well as ‘high’ thorium (Th) and magnetic responses similar to the newly identified outcropping mineralisation at MW2.
Kingfisher notes all of these targets within this 10km long area also lie within the company’s Chalba Shear Zone which extends for 54km across Kingfisher’s Gascoyne tenure.
The company has also witnessed a strong increase in its share price on the ASX, rising 10.89% to $0.560 as of 12pm AWST.
Kingfisher Mining is a mineral exploration company focused on its projects in Western Australia. The company’s portfolio of projects includes the Mick Well, and Kingfisher projects in the Gascoyne region, as well as the Boolaloo Project in the Ashburton Mineral Field.