Kingfisher Mining Ltd (ASX:KFM) has confirmed the prospectivity of its wholly-owned projects in the Gascoyne Mineral Field in Western Australia with a high-grade rare earth intercept of 12 metres at 1.12% total rare earth oxides (TREO) from the Mick Wells prospect.
The main Mick Well interval recorded 12 metres at 0.21% neodymium oxide (Nd2O3) and praseodymium oxide (Pr6O11), including 4 metres at 0.31% Nd2O3 and Pr6O11.
Further anomalous results of 4 metres at 0.27% TREO and 4 metres at 0.18% TREO were returned from the same target, with a second drill core from Mick Well returning 4 metres at 0.17% TREO.
“Significant exploration potential”
Kingfisher Mining executive director and CEO James Farrell commented: “The discovery of rare earths mineralisation at our Gascoyne projects is an outstanding result for the company and its shareholders.
“The discovery of the mineralisation and numerous outcropping carbonatites has highlighted the significant exploration potential of the area. Kingfisher has recently expanded its landholding in the region with targeted pegging of tenements considered prospective for rare earth elements.
“The company is developing a full exploration strategy for this extensive exploration tenure as it continues to increase its efforts in the search for highly sought-after rare earth elements.
“During the first year since listing, the company has completed two large airborne electromatic surveys at its Ashburton and Gascoyne Mineral Fields’ projects and drilled 10 targets, including seven new targets at Mick Well, Kingfisher and Boolaloo.
“The return of anomalous results from two of the four targets tested at Mick Well and Kingfisher is highly encouraging, and we look forward to receiving the results from the three copper-gold targets at Boolaloo which are still pending and are expected later this month.
“Kingfisher’s board and management would like to extend thanks to its shareholders for their patience over the last year as it has established itself and become a successful ASX-listed explorer.”
Next steps
The company’s expansive Gascoyne tenure now covers 969 square kilometres, with follow-up mapping indicating there may be significant rare earth exploration potential.
First-pass interpretation of survey mapping has identified 12 more potential areas of carbonatite intrusions with associated alternation with the potential to host rare earth elements (REEs).
Kingfisher’s plans for 2022 are:
- January 2022: Boolaloo drilling results; Erny Bore, Green Hills and EM1 copper-gold targets;
- February 2022: Rock chip results from sighter and follow-up programs targeting carbonatites and rare earth elements; and
- February 2022: Updated exploration strategy and program for 2022, building on the rare earths focus for the Gascoyne Mineral Field.
About Kingfisher Mining
Kingfisher Mining is a mineral exploration company committed to increasing value for shareholders through the acquisition, exploration and development of mineral resource projects throughout Western Australia.
The company’s tenements and tenement applications cover 1,406 square kilometres in the underexplored Ashburton and Gascoyne Mineral Fields and have advanced copper-gold exploration targets as well as these new rare earth targets.