Kingfisher Mining (ASX:KFM) is planning new exploration work to target ‘large-scale’ carbonatite targets along the 54km Chalba target corridor within its Chalby Chalby Project in Western Australia.
The programs will test ‘high-priority’ carbonatite targets across Kingfisher’s belt-scale tenement holding, building upon the ‘significant’ discoveries that confirmed the presence of ‘high-grade’ rare earths mineralisation along Chalba.
Further, the $7.52 million market capitalisation company will target lithium associated with various pegmatite outcrops within its tenements at Chalby Chalby.
The activities planned for the 2023 field season include on-ground mapping and sampling, reverse circulation (RC) drilling, ground-based gravity and surface geochemical surveys, and further airborne geophysics.
This news comes after the company identified broad lithium anomalies extending over 1,600m in length and 800m in width from a soil geochemistry survey conducted at Chalby Chalby.
Kingfisher reports rock chip results returned up to 0.61% lithium oxide (Li2O).
The company mapped additional pegmatites with results up to 0.22% Li2O, increasing the pegmatite strike length to more than 13,000m and highlighting lithium fertility.
Kingfisher Mining Chief Executive Officer (CEO) and Executive Chairman James Farrell says: “The Chalby Chalby soil geochemistry program has revealed exciting broad areas of anomalous lithium associated with our mapped pegmatites, as well as new areas where there is potential to further extend the pegmatite targets.
We are currently on-ground mapping these additional areas as we continue advancing our pegmatite discovery work ahead of the maiden drilling program.”
The company notes results from the ongoing mapping and rock chip samples of the ‘high-grade’ rare earths system at Mick Well are anticipated to be returned in November 2023.
Kingfisher Mining is a diversified minerals explorer with 1,676km-square of tenements in the ‘underexplored’ Ashburton and Gascoyne mineral fields of Western Australia.
As of 30 June 2023, the company had $3.4 million cash at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Kingfisher Mining
