Kingfisher Mining (ASX:KFM) has highlighted the ‘significant’ potential for discovery and additional mineralisation at its Mick Well Project in Western Australia after increasing its strike length of mineralisation and scale.
The $8 million market capitalisation company reports Mick Well’s strike length now exceeds 20km, with further ‘high-grade’ rare earth element (REE) discovered at its new MW14 target.
Kingfisher says one of the new ‘exceptional’ grade results includes MWGS3135 with 30.05% total rare earth oxide (TREO) with 6.15% neodymium oxide (Nd2O5) + praseodymium oxide (Pr6O11).
Next year, Kingfisher plans to focus on drill testing priority surface and carbonatite targets at the project.
Chief Executive Officer (CEO) and Executive Director James Farrell says the Mick Well project is now confirmed as a ‘significant’ regional-scale carbonatite centre and continues to expand on the back of Kingfisher’s targeting strategy.
“The latest discoveries have significantly increased our understanding of the scale of the Mick Well prospect.
The carbonatite mineralisation intrusion centre is now recognised to extend over a strike length of 10km along the Chalba Shear Zone, with 3 large carbonatite pipe targets at its centre and more than 20km of high-grade dyke and vein mineralisation extending away from the pipes.”
“The latest discoveries have significantly increased our understanding of the scale of the Mick Well prospect”
These latest results bring the company’s 2023 field season to a close, but planning is already well underway for 2024.
Kingfisher Mining’s tenements cover 1,676km-square in the underexplored Ashburton and Gascoyne Mineral Fields. The company is focused on discovering rare earths, as well as copper and gold.
As of 30 September 2023, the company had $2.692 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Kingfisher Mining
