Kingfisher Mining Ltd (ASX:KFM) has confirmed the presence of rare earth element (REE) and base metal mineralisation at the Mick Well Project in Western Australia.
A diamond drilling program revealed two zones of rare earth mineralisation within the carbonatite dykes at Mick Well, demonstrated by a result of 0.85 metres at 1.39% total rare earth oxides (TREO) from 74.1 metres of depth.
That drill hole also revealed an associated result of 0.2 metres at 1.7% copper and 0.22 g/t gold from 128.15 metres.
Large carbonatite alteration halo
“These assays confirmed the presence of two new rare earths lodes along with base metals within a large carbonatite alteration system,” Kingfisher Mining non-executive chair Warren Hallam said.
“This is a significant step forward in confirming that Mick Well is a significant regional-scale REE system similar to other global REE systems with the majority being associated with carbonatites and base metals."
The company has also received the first 80% of the co-funded drilling refund from the DEMIRS of $152,403.65, with the remaining 20% to be awarded when the program’s drill core is submitted to the department.
“Kingfisher would like to reiterate its thanks to the Department of Energy, Mine, Industry Regulation and Safety (DEMIRS) for co-funding the drilling through the Exploration Incentive Scheme (EIS).”
KFM has interpreted the REE and base metal mineralisation at Mick Well to be encapsulated in a carbonatite alteration halo similar to some of the world’s most notable REE deposits.
Kingfisher is now assessing downhole geophysics techniques to investigate additional targets near known mineralisation.