Kingfisher confirms ‘multiple lodes’ at high grade rare earths project
The latest drilling at the MW2 target – part of Kingfisher Mining’s projects in the Gascoyne Mineral Field – returned high-grade rare-earths, pointing to “the emergence of an exciting and previously unrecognised REE region” in WA.
Kingfisher Mining (ASX:KFM) is targeting rare earths discoveries along a 54km corridor associated with the REE-rich Chalba Shear Zone.
The project is in a good neighbourhood, only a proverbial stone’s throw (~100km away) from Hastings Technology Metals’ (ASX:HAS) world-class 27.42Mt @ 0.97% TREO ‘Yangibana’ deposit.
New drilling has now confirmed multiple lodes at MW2 with highlight results that include 5m at 3.45% total rare earth oxides (TREO) with 0.65% Nd2O3 + Pr6O11 (including 3m at 5.21% TREO with 0.98% Nd2O3 + Pr6O11)
That interval also included 1m at 7.13% TREO with 1.33% Nd2O3 + Pr6O11 (MWRC011).
Other holes hit 8m at 1.05% TREO with 0.19% Nd2O3 + Pr6O11 and 4m at 1.03% TREO with 0.17% Nd2O3 + Pr6O11.
Neodymium (Nd2O3) and Praseodymium (Pr6O11), two of the most valuable of the ~15 elements, are used to make REE magnets which are at the heart of electric vehicle technology.
This drill program was designed to confirm the dip and strike of the mineralisation at MW2 and follow-up the results from the KFM’s recent discovery announced in January and March, which included 12m at 1.12% TREO, including 4m 1.84% TREO.
These objectives have successfully been achieved, KFM boss James Farrell says.
“The results from MW2 continue to point to the emergence of an exciting and previously unrecognised REE region,” he says.
“The grade of the mineralisation intersected in MWRC011 has significantly exceeded our expectations, especially with over seven percent TREO intersected over a one metre interval.”
The results confirm a second zone of mostly high grade monazite-dominant mineralisation which has the same geology as the recently reported and yet to be drilled 800m of outcropping mineralisation near MW2, which returned rock chips up to 21.13% TREO.
Besides MW2, and the undrilled discovery 500m from MW2, outcropping high-grade REEs have now been confirmed over more than 800m of strike at the ‘Mick Well’ prospect, KFM says.
The targets are plentiful.
“We have already planned follow-up drilling at MW2 and we are looking forward to receiving the results from the recent drilling of other targets in the Mick Well and Kingfisher areas in the coming weeks,” Farrell says.
This article was developed in collaboration with Kingfisher, 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.