Kingfisher Mining (ASX:KFM) has confirmed that a co-funded diamond drilling programme testing the Mick Well carbonatite pipe targets is now underway in WA.
In addition to the co-funded drilling, Kingfisher continues with the ongoing evaluation of the base metal opportunities within its Gascoyne tenure.
“We are excited to have the co-funded diamond drilling programme underway. The programme integrates the geophysical targets within an area surrounded by high grade REE mineralisation and the carbonatite targets are potentially the source of REE mineralisation at depth,” Non-executive Chairman, Warren Hallam, said.
“The successful awarding of co-funding vindicates the high-quality targets and technical work of the Kingfisher team to date. Kingfisher is grateful for DEMIRS support in awarding the co-funded drilling. In addition to the co-funded drilling the company is on the ground evaluating the base metal opportunities within the company’s tenement package.”
The planned programme is for two diamond drill holes for approximately 1200m. Kingfisher has been awarded $200,000 of co-funding for drilling of the Mick Well carbonatite pipe targets under the Department of Energy, Mines, Industry Regulation and Safety (DEMIRS) Exploration Incentive Scheme (EIS).
The three large carbonatite pipe targets at Mick Well have been identified below the company’s high-grade vein and dyke REE mineralisation discoveries. The carbonatite pipe targets were generated through three-dimensional modelling of the company’s gravity and magnetics data, with areas with more dense and more magnetic rocks identified from the geophysics.
Each of the target pipes is more than 1,000m in diameter and close to surface, with the depth to the top of each target being less than 50m below the ground surface. The carbonatite pipe targets are all located in the centre of the large area of outcropping carbonatites and associated fenite alteration at Mick Well. The modelled targets are also directly associated with the vein and dyke REE mineralisation which envelop and radiate away from the interpreted intrusion centres. The drilling will target the central and eastern pipes, with additional drilling planned in other locations.
Kingfisher continues to undertake a review of historic base metal occurrences, recent on ground surface sampling returned high grade copper values ranging from 1.73% up to 15.3% Cu.
Recent surface sampling also returned gold values up 0.6 g/t and bismuth up to 0.26%, with elevated bismuth commonly occurring within Volcanogenic Massive Sulphide (VMS) deposits.
The base metal evaluation aims to investigate the presence of mineralisation not identified by existing geophysics surveys and previous wide spaced drilling.
