Kingfisher has underscored its confidence in the rare earths potential of its Gascoyne projects in Western Australia by picking up ground over a new target corridor with 18km of potential strike.

The new Mooloo project has the same geology, regional geophysics and a similar high thorium response as the Mick Well area where exploration has uncovered a high-grade REE prospect with valuable magnet rare earths such as neodymium and praseodymium.

Kingfisher Mining (ASX:KFM) recently started drilling on five mineralised lodes at the promising MW2 target at Mick Well where rock chip sampling had returned results exceeding 40% total rare earth oxides (TREO).

“The grant of the tenements at the new Mooloo project opens an entirely new area in the highly prospective Gascoyne region,” executive director and chief executive officer James Farrell said.

“We originally applied for these tenements as we recognised a number of geological similarities with the criteria we use for targeting the rare earth element mineralisation in our other Gascoyne tenure; an approach which has resulted in discoveries at MW2, MW7 and MW8.

“Applying our knowledge from those discoveries has allowed us to identify a new target corridor which extends over a strike length of 18km at the Mooloo project.”

Mooloo project

Mooloo consists of the E09/2660 and E09/2661 which host rocks of the Halfway Gneiss and Moogie Metamorphics – the same rocks that appear within the Mick Well area.

The new project also shows high thorium responses which are similar to Mick Well, where elevated thorium is known to be associated with REE mineralisation.

Kingfisher has used the geology, structure and thorium anomalies to identify a new target corridor which extends over a strike length of 18km across the newly granted tenure.

This target corridor is located 20km to the south of and parallel to the existing 54km target corridor which hosts the REE discoveries along the Mick Well corridor.

Target generation work here and in other project areas will begin once the company receives results from the recent airborne geophysics surveys.

 

 

 

This article was developed in collaboration with Kingfisher Mining, a Stockhead advertiser at the time of publishing.

 

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

Read MoreRare Earths

Featured Companies

You might be interested in