Kingfisher Mining has instated its Mick Well project 230km east of Carnarvon in WA’s Gascoyne region as a potentially significant new rare earths discovery, with rock chips returning extraordinary grades in outcrop at two new prospects.

Following the initial discovery of rare earths oxides at MW2, new finds at MW7 and MW8, including a top result of 17.64% rare earths oxides, have confirmed the prospectivity of its 54km long target mineralisation corridor at Mick Well.

Rare earths are key metals with a growing demand profile over the next decade and beyond thanks to their use in the permanent magnets essential to EVs and wind turbines.

The elements with the highest demand and value proposition, neodymium and praseodymium are both present in high concentrations in the Mick Well samples.

At MW8, 1900m northwest of MW2, where drilling returned high grade REE results of 5m at 3.45% total rare earths oxides and rock chips have been returned grading up to 40%, Kingfisher Mining (ASX:KFM) has received a string of high grade results in rock chip assays.

They include:

  • 17.64% TREO (Total Rare Earth Oxides) with 3.82% Nd2O3 + Pr6O11 (MWGS1224)
  • 16.75% TREO with 3.66% Nd2O3 + Pr6O11 (MWGS1232)
  • 13.80% TREO with 3.02% Nd2O3 + Pr6O11 (MWGS1301); and,
  • 10.62% TREO with 2.34% Nd2O3 + Pr6O11 (MWGS1152)

Meanwhile at MW7, a prospect with an interpreted strike-length of 1km, 700m northwest of MW2, an initial rock chip result of 3.85% TREO including 0.65% Nd2O3 and Pr6O11 confirmed its rare earths potential.

Additional sampling is ongoing at the high priority target.

To top it off

That’s not all. More rock chips at MW2 have extended the mineralised zone at the project ahead of drilling expected to begin in the coming weeks.

The best new results from MW2 include:

  • 7.34% TREO with 1.68% Nd2O3 + Pr6O11 (MWGS1193)
  • 5.06% TREO with 1.13% Nd2O3 + Pr6O11 (MWGS1177)
  • 3.91% TREO with 0.78% Nd2O3 + Pr6O11 (MWGS1191); and,
  • 3.19% TREO with 0.64% Nd2O3 + Pr6O11 (MWGS1179).

Additional assays from mapping and surface sampling of new targets along the 54km long corridor in the Mick Well area are due in late November.

Just a fraction of the 54km corridor at Mick Well has been explored. Pic: KFM

Just 3km, or 1/18th, of the 54km long corridor at Mick Well has been assessed so far.

“We are ecstatic with the latest discoveries at MW7 and MW8,” Kingfisher executive director and CEO James Farrell said.

“We are advancing along the target corridor, with these new high grade outcropping REE discoveries coming from the initial 3km of the 54km strike of the mineralised corridor.

“The new discoveries now mean there are multiple cross cutting lodes over a 2km zone extending along the corridor from our initial discovery at the MW2 Prospect, where drilling is scheduled to commence in the coming weeks.

“We are extremely encouraged by the results and the potential of our extensive tenement package as we continue our mapping and rock chipping programs.”

Located close to the world class Yangibana rare earths deposit, Kingfisher has now established multiple high quality targets at Mick Well.

The MW8 is extensive, with mineralisation identified over 1200m north east of the MW8 outcrop along its interpreted structure.

Results from its potential extensions, which will be investigated in ongoing mapping programs, included 1.08% TREO with 0.18% Nd2O3 and PrO11.

 

 

 

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.

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