Kingfisher executive director and CEO James Farrell says interest from investors to participate in the placement has been truly overwhelming.

The company is now looking to accelerate exploration in Western Australia’s Gascoyne region, a widely underexplored district and one that has caught the attention of ASX players in recent years due to its potential of becoming a game changing rare earths province.

Kingfisher’s (ASX:KFM) tenure comprises rocks of the Proterozoic Durlacher Suite that hosts Hastings Technology (ASX:HAS) world-class Yangibana Deposit which sits at 27.42Mt at 0.97% TREO.

In what marks the first capital raising undertaken by the company since listing on the ASX back in December 2020, Farrell says the investor interest provides a strong endorsement for the Mick Well discovery as well as the potential for additional discoveries in the area.

Pipeline of opportunities

“We have already made a breakthrough rare earth elements discovery, with exceptionally high-grade hard rock mineralisation and broad zones of high-grade clay mineralisation which is part of the same large-scale mineral system,” he says.

“We look forward to our continued growth through exploration success as we continue with our exploration strategy focused on discovery of high-grade rare earths mineralisation in one of the most exciting locations in the world”.

Mick Well is associated with carbonatite intrusions where past exploration focused on outcrops of quartz reef and gossanous ironstones which are up to 10m in width.

Kingfisher Mining asx kfm
Planned and completed activities for 2022.

KFM plans to develop and test drill targets from ground-based mapping and rock sampling while simultaneously working to develop a pipeline of exploration opportunities through integrating current and scheduled tenement-scale airborne geophysical surveys.

All this work will be undertaken with the assistance of geological knowledge from the REE discovery 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.

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