Kingfisher dialling in on rare earths motherlode, has more high quality targets than it can poke a stick at
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Early-stage drilling at the Mick Well project has returned broad intervals of rare earth elements (REE) associated with a new style of mineralisation, KFM says.
Mick Well is one of Kingfisher’s (ASX:KFM) projects along a 54km corridor associated with the REE-rich Chalba Shear Zone in the Gascoyne Mineral Field.
This is “an exciting and previously unrecognised REE region” only a proverbial stone’s throw (~100km away) from Hastings Technology Metals’ (ASX:HAS) world-class 27.42Mt @ 0.97% TREO ‘Yangibana’ deposit.
The potential for REEs at Mick Well was first identified by KFM earlier this year, when anomalous (low grade) but highly encouraging results were returned from sampling of historical diamond drill hole MWDD002.
New drilling at Mick Well has confirmed KFM’s suspicions, hitting broad zones of mineralisation associated with kaolinite clays and weathered bedrock.
This is a new style of mineralisation for the project, it says.
Highlights include 40m at 1367 parts per million (ppm) total rare earth oxides (TREO) with 278 ppm neodymium Nd2O3 + Pr6O11 from 8m.
Neodymium (Nd2O3) and praseodymium (Pr6O11), two of the most valuable of the 15 or so elements, are used to make REE magnets which are at the heart of electric vehicle technology.
RC drilling at the nearby Kingfisher Prospect and all targets drilled in the Mick Well area — including MW1, MW3, M4 and MW6 — also returned anomalous REE results.
“This is another great result for the company with all the targets drilled in the recent drilling program returning anomalous REE mineralisation, and significantly, all of the targets lie on structures within the Company’s 54km target corridor,” KFM boss James Farrell says.
“In addition to the recent hard rock discoveries, we have also identified anomalous REE in the clays at the Mick Well Prospect.
“This now presents a new opportunity that will be followed up with metallurgy testwork and additional drilling.
“We are continuing with our surface mapping and sampling programs to improve our understanding of the region, identifying additional drill targets ahead of the next drill program which is scheduled for later this year.”
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.