Drill Holes Targeting REE Dykes with 40% TREO at MW2
Drilling is underway at MW2 as part of a 4,000m drill program designed to target the mineralised lodes which have been delineated by high grade rock chips that exceed 40% TREO (total rare earth oxides).
The MW2 mineralisation includes five separate lodes over a 300m wide zone with a cumulative strike length of over 3,000m. The mineralisation dominantly consists of monazite, which includes the high-value magnet rare earth elements (REEs), neodymium and praseodymium.
The current mineralised targets are 500m northwest of the Company’s discovery drill hole where previously reported high grade results included 5m at 3.45% TREO, including 3m at 5.21% TREO (see ASX:KFM 5 July 2022)
The drill program is expected to take a month to complete, with the first assay results anticipated in approximately eight weeks.
Fieldwork to delineate additional high grade targets across the Company’s highly prospective Gascoyne tenure is on-going and will continue during the drilling program. The Company aims to build a pipeline of exploration targets that will be progressively evaluated over the years to come.
James Farrell, Kingfisher’s Executive Director and CEO
“We are thrilled to have the drill program at MW2 underway. The program brings together several months of work in mapping, sampling and delineating the surface outcrops of mineralisation at MW2.
Our previous drilling at Mick Well which led to the discovery of the rare earths mineralisation in the area returned high grade mineralisation over 5m at 3.5% TREO. We hope to see similar results from this program, particularly as we are drilling a target where we have identified an area of well-developed mineralisation at surface"