Rare earth element (REE) exploration company Kingfisher Mining (ASX:KFM) has uncovered numerous REE targets from a recent tenement-scale magnetics and radiometrics airborne geophysical survey at the Arthur River Project in Western Australia.
The company says these surveys have identified a ‘significant’ amount of geophysical targets, and geological mapping has delineated strike lengths of more than 5km of outcropping ‘high-grade’ REE mineralisation. These targets have also extended the company’s target corridor along the Lockier Shear Zone by 12km, bringing the total strike length to 30km.
Kingfisher notes this builds upon the previously announced 18km strike length for the Lockier target corridor at the Mooloo Project, located about 20km south of the parallel Chalba target corridor.
An interpretation of these surveys has identified 7 large-scale ‘high’ priority areas, with each target selected from a combination of magnetic potassium and thorium features. Kingfisher also reports tens of smaller circular features have also been identified in the magnetic data, with each of these ‘high’ magnetic features located with ‘high’ thorium responses.
In addition, 6 large-scale and high priority target areas have been identified with tens of other discrete magnetic features with geophysical signatures similar to other known carbonatite intrusions globally and within the region.
Kingfisher reports all of the prioritised targets cover a ‘substantial’ area, with the smallest, LK3 being more than 2.2km long and 1km wide. The largest target, LK1, is particularly ‘significant’ to the company reporting it to be more than 9km long and over 6.5km wide.
Commenting on the newly identified REE targets, Kingfisher Mining Executive Director and Chief Executive Officer (CEO) James Farrell says: “Our tenement scale airborne geophysics surveys have once again led to the identification of more high-quality and large-scale carbonatite targets, including a truly exceptional target which extends for over 9km and is comprised of numerous circular magnetic and thorium features which we interpret to be associated with carbonatite pipes and dykes.
This is the most significant and largest geophysical feature we have identified so far, adding significantly to an already impressive pipeline of geophysical targets and zones of outcropping high-grade mineralisation.
“This is the most significant and largest geophysical feature we have identified so far, adding significantly to an already impressive pipeline of geophysical targets and zones of outcropping high-grade mineralisation”
The new targets are along the Lockier Shear Zone which is approximately 20km to the south and is parallel to the company’s 54km Chalba target corridor which hosts the high-grade REE discoveries near Mick Well. The new targets at Arthur River together with our Mooloo Project extends the company’s Lockier target corridor strike to 30km, a target zone of significant scale which provides for a second target corridor within our Gascoyne tenure.
We have recently announced a series of new carbonatite targets along the Chalba mineralised corridor, which we hope to see develop into a world class REE centre. We are now seeing similar high-quality targets emerging along the Lockier corridor.
We remain amazed that these 2 mineralised corridors extending over a total of 80km have never before been identified for carbonatites and REE mineralisation and we are extremely excited as to the prospective opportunities ahead of us as we progress our exploration in this emerging region.”
Kingfisher reports ‘high-priority’ targets including LK1, LK2, LK3, LK4, and LK7 have already been selected for surface mapping and sampling due to the presence of interpreted carbonatites and circular or oval-shaped features indicative of intrusion pipes.
The company says the identification of targets from geophysics is an important component early in the discovery process, and as a result it will be ranking all of the targets and including them in project generation activities for 2023 and beyond.
The Arthur Project is located about 205km east of Carnarvon, and 30km southwest of Kingfisher’s Mick Well Project in the Gascoyne region of Western Australia. In this region, the company holds exploration licences covering 969km-square which includes the Yangibana Deposit that boasts a mineral resource of 29.93 million tonnes @ 0.93% TREO.
Kingfisher Mining is an Australian REE exploration company operating in the Ashburton and Gascoyne regions of Western Australia. The company’s portfolio includes the Mick Well, Kingfisher, Arthur River, and MW2 projects in the Gascoyne region, as well as Boolaloo Project in the Ashburton region.
Images: Kingfisher Mining Ltd
