Kingfisher’s Mick Well project in WA’s Gascoyne region is shaping up to be a regional-scale rare earths play after rock chip sampling defined a further 800m of outcropping mineralisation.

Rock chip assays returned results of up to 21.13% total rare earth oxides (TREO) with 3.59% neodymium and praseodymium – valuable rare earths used for producing permanent magnets – at the newly defined zone, which is 500m northwest of MW2 where drilling intersected 12m at 1.12% TREO.

And there’s a lot more to be found with Kingfisher Mining (ASX:KFM) identifying multiple mineralised dykes with the potential to extend the known mineralisation and discovering additional carbonatite dykes.

This is a significant find as REE deposits associated with carbonatite are the main source of the valuable elements globally.

More potential could be hidden within further high priority geophysical targets that the company has identified in a broad zone which extends 10km WNW from MW2 within the Company’s 54km target corridor.

“The discovery of the additional rare earth element mineralisation in three parallel dykes just 500m from MW2 is a very exciting development for the company,” chief executive officer James Farrell says.

“The high grade assay results exceed our expectations and have led to the further identification of numerous new targets over a large area at Mick Well.

“As our work expands along our 54km target corridor, the new targets will be progressively assessed as we continue to increase our fieldwork over the coming months.”

He added that the company was eagerly waiting on results from recent drilling at the discovery target MW2, geological logging of which was instrumental in the discovery of the new mineralisation.

“The newly identified mineralisation is now drill ready and will be added to drill programs that have already been planned and contracted for later in the year,” Farrell notes.

New REE mineralisation

The outcropping mineralisation contained within the three dykes is fresh from surface and consists predominantly of high-grade monazite and allanite – both important global sources of neodymium and praseodymium.

Identification of this mineralisation has also improved the company’s understanding of the project’s geology and confirmed the effectiveness of airborne radiometrics and magnetics for targeting on-ground mapping and the subsequent successful discovery of outcropping mineralisation.

Additionally, the new high priority targets are also associated with carbonatite complexes as well as high thorium and magnetic responses – similar to what is seen for the newly identified outcropping mineralised carbonatite dykes.

 

 

 

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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