Substantial Strike Indicates Potential for Large-Scale Plugs
Kingfisher is continuing to move along the 54km mineralised Chalba corridor targeting high grade Rare Earth Elements (REE) mineralisation. The latest surface samples from northeast of MW2 have extended the target zone, with the mineralisation remaining open in all directions.
The MW2 mineralisation occurs in five parallel lodes that are associated with ferrocarbonatite dykes which occur in a zone that is 300m wide and has now been extended to have a strike length of more than 2.4km. The latest surface sample results from the outcropping high grade monazite mineralisation include:
30.54% TREO with 5.08% Nd2O3 + Pr6O11 (MWGS1610)
16.00% TREO with 2.62% Nd2O3 + Pr6O11 (MWGS1611)
24.04% TREO with 4.06% Nd2O3 + Pr6O11 (MWGS1612)
11.43% TREO with 1.77% Nd2O3 + Pr6O11 (MWGS1613)
21.02% TREO with 3.58% Nd2O3 + Pr6O11 (MWGS1614)
20.86% TREO with 3.59% Nd2O3 + Pr6O11 (MWGS1615)
18.45% TREO with 3.16% Nd2O3 + Pr6O11 (MWGS1617)
14.81% TREO with 2.13% Nd2O3 + Pr6O11 (MWGS1618)
Geological mapping around the Mick Well area has also resulted in the discovery of mineralisation in a new area, with a surface sample returning 1.99% TREO with 0.46% Nd2O3 + Pr6O11 (MWGS1622). This represents the highest NdPr ratio previously seen at Mick Well.
The substantial strike and width of the zone at MW2 which hosts the mineralisation is highly encouraging, with on-going exploration now focused on targeting both the large scale carbonatite intrusion plugs as well as the high-grade REE mineralisation associated with ferrocarbonatite dykes.
Field work is set to commence in March, with the Company’s full exploration plans for the 2023 to be announced in the coming weeks; ahead of the field season.
Kingfisher Mining Limited (ASX:KFM) (“Kingfisher” or the “Company”) is pleased to announce that it has extended the mineralisation at MW2 yet again, with a strike length of over 2.4km. The most resent rock chip results have also returned the highest NdPr ratio we have seen thus far.
Kingfisher’s Executive Director and CEO James Farrell commented: “The latest results from MW2 highlight the significant potential of these emerging high grade carbonatite REE zones as a regional scale discovery. There are strong indications that the REE mineralisation forms part of a larger carbonatite system.
Kingfisher is uniquely positioned to build on the discovery with its tenure that covers 84km of strike along the mineralised target corridors of the Chalba and Lockier shears. High grade REE mineralisation has been confirmed from drilling on the Chalba and numerous large-scale carbonatite plug and dyke targets have been identified along the entire strike length of these corridors.
Our exploration plans for this year will include multiple drill programs as well as significant on-ground work as we seek to advance the large-scale carbonatite targets. This pipeline of projects has Kingfisher primed for an exciting 2023 as we build upon and continue to step out from the Mick Well discovery.”