Kingfisher’s belief that it has a ‘belt-scale’ rare earths play on its hands has received a shot in the arm after drilling confirmed the discovery of continuous, high-grade rare earths at the MW2 target.

Notable results from the drill program are 5m grading 2.63% total rare earth oxides (TREO) and 0.54% neodymium and praseodymium – both valuable magnet REEs – from a down-hole depth of 124m (MWRC067) and 4m at 3.24% TREO and 0.54% Nd2O3 + Pr6O11 from 46m (MWRC035).

While the results proving that mineralisation is present across the entire strike length of the target is certainly worth crowing about for Kingfisher Mining (ASX:KFM), there is potentially more to come as MW2 remains open along strike and at depth.

And given that MW2 is just one of numerous potential carbonatite intrusion locations with geophysical responses similar to the original Mick Well area – where drilling has returned results such as 5m at 3.45% TREO within a geologically mapped strike length of 5km, there is a growing body of evidence that the company has a ‘belt-scale’ play on its hands along the 54km Chalba target corridor in Western Australia’s Gascoyne mineral field.

Positive outcome

Chief executive director James Farrell said the result was a great outcome considering that it follows on the initial discovery of outcropping mineralisation at MW2 just six months ago and only 12 months since the break-through REE discovery at Mick Well.

“The results confirm the Chalba Shear as the next large-scale REE target zone in the Gascoyne, which is a separate parallel shear approximately 100km south of the Lyons River Shear that hosts Hastings’ world-class Yangibana Project that is currently under construction and the exciting REE discoveries by Dreadnought Resources at their Mangaroon Project,” he noted.

“Significantly, MW2 is only one of many identified targets along the company’s extensive 54km Chalba corridor and there is potential for additional mineralisation discoveries and growth for the company as our methodical exploration advances further along the shear.”

Farrell added that the company is now focused on its 2023 exploration plan, which includes ongoing exploration activities to confirm additional mineralisation along its target corridors and a rig already booked for infill and extensional drilling at MW2 – particularly to the southwest where there is potential to extend mineralisation along strike and down-dip.

“Maiden drilling has also been planned at MW8 and in particular, MW7, where mapping and sampling has identified continuous mineralisation at surface over a strike length of 1.5km further to the northwest along the Chalba Shear,” he concluded. 

MW2 drilling

High-grade monazite mineralisation at MW2 occurs from surface and remains open along strike and at depth. Previous rock chip sampling had returned assays exceeding 40% TREOs.

The recently completed drill program consisted of 37 holes with REE mineralisation intersected in 33 holes.

This highlighted that the high-grade REE mineralisation is surrounded by extensive carbonatite associated fenite alteration, providing further support for Kingfisher’s interpretation that a very large-scale REE system is present along the Chalba Shear target corridor.

Significant potential extensions have also been identified from geophysics for ongoing exploration at the MW2 discovery and the area immediately surrounding the discovery.

 

 

This article was developed in collaboration with Kingfisher Mining (ASX:KFM), 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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