Kingfisher Mining rounds out 2022 drilling and awaits first assays in January 2023
A drill rig has been booked for infill and additional drilling at MW2 which is part of the Mick Well REE Project in Western Australia’s Gascoyne Region to begin at the start of the field season in Q2, 2023.
Kingfisher’s (ASX:KFM) recent MW2 drill program consisted of 37 drill holes for 4,225m – which is part of a program to target mineralisation below high-grade outcropping REE mineralisation.
It was also designed to significantly expand upon previous drill results from MWE, which included 5m at 3.45% TREO where the high-grade monazite mineralisation occurs within well-developed potassium, sodium, and mafic fenites associated with the intrusion of carbonatites.
Four additional holes were added to the program during drilling and due to constraints associated with rig availability, five drill holes in the initial plan were delayed and will now be prioritised for completion in 2023.
The first samples from the drilling are already in the laboratory in Perth, with initial assays expected in January 2023.
KFM executive director and CEO James Farrell says 2022 was a fantastic year for the company.
“In January we announced the breakthrough REE discovery at MW2, and not long after, we followed up with further high-grade monazite mineralisation intercepts with 5m at 3.45% TREO and from the same program.
“We also identified high grade clay hosted REE mineralisation at the Mick Well prospect and as the year progressed, we continued to make discoveries of outcropping high grade REEs, first in the MW2 area and then at MW7 and MW8,” he continues.
“Our understanding of the geology in the Mick Well area is steadily advancing and we certainly believe we are looking at a regional scale REE system, with potential for large scale carbonatite intrusions.”
Kingfisher is beginning to see more similarities between MW2 and Hastings (ASX:HAS) world-class Yangibana Project, Farrell adds, in particular with the Bald Hill deposit which makes up the majority of the mineral resources at Yangibana.
“This is particularly important for the company due to the significant breakthroughs we have already made at this early stage of exploration which has covered just 5km of the 54km Chalba target corridor,” he says.
“We are looking forward to receiving the assay results from the drilling, with the last of the samples expected to be delivered to Perth before Christmas.”
Full details of KFM’s planned REE exploration activities will be announced in January 2023 with an expansion of activities anticipated as the company focuses on further advancing its high grade REE discoveries at Mick Well.
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.