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Highlights
Numerous Rare Earth Elements (REE) targets identified at Arthur River, with a large-scale target area that features several circular magnetic and thorium responses which are interpreted to be associated with the intrusion of carbonatites.
In addition, six large-scale and high priority target areas have been identified with tens of other discrete magnetic features with geophysical signatures similar to other known carbonatite intrusions globally and within the region.
The newly identified targets add a further 12km of strike to the Lockier target corridor which also hosts the Company's Mooloo project target zone, taking the Company's target corridor on the Lockier shear to a total strike length of 30km. This significantly adds to the Company's already extensive 54km Chalba target corridor which hosts the MW2 discovery.
A review of historical exploration data is already underway with new targets being ranked and included in the Company's exploration activities for 2023.
Kingfisher Mining Limited (ASX:KFM) (“Kingfisher” or the “Company”) is pleased to announce that it has received the results from its recent tenement-scale magnetics and radiometrics airborne geophysics surveys at its 100% owned Lockier shear projects in the Gascoyne Mineral Field in Western Australia. The latest results are from the Arthur River project area, which is located 30km southwest of Mick Well, where a significant amount of geophysical targets have also been identified and geological mapping has delineated strike lengths of more than 5km of outcropping high grade Rare Earth Elements (REE) mineralisation and where drilling has returned results of 5m at 3.45% TREO (Total Rare Earth Oxides), including 3m at 5.21% TREO at MW2 (see ASX:KFM 5 July 2022).
“Our tenement-scale airborne geophysics surveys have once again led to the identification of more high quality and large-scale carbonatite targets, including a truly exceptional target which extends for over 9km and is comprised of numerous circular magnetic and thorium features which we interpret to be associated with carbonatite pipes and dykes. This is the most significant and largest geophysical feature we have identified so far, adding significantly to an already impressive pipeline of geophysical targets and zones of outcropping high grade mineralisation.
The new targets are along the Lockier Shear Zone which is approximately 20km to the south and is parallel to the Company’s 54km Chalba target corridor which hosts the high grade REE discoveries near Mick Well. The new targets at Arthur River together with our Mooloo Project extends the Company’s Lockier target corridor strike to 30km; a target zone of significant scale which provides for a second target corridor within our Gascoyne tenure.
We recently announced a series new targets carbonatite targets along the Chalba mineralised corridor, which we hope to see develop into a world-class REE centre. We are now seeing similar high quality targets emerging along the Lockier corridor. We remain amazed that these two mineralised corridors extending over a total of 80km have never before been identified for carbonatites and REE mineralisation and we are extremely excited as to the prospective opportunities ahead of us as we progress our exploration in this emerging region.”
James Farrell, Kingfisher’s Executive Director and CEO