Kingfisher Mining Limited (ASX:KFM) has defined a total strike length of mapped outcropping dykes and veins at the MW2, MW7 and MW8 prospects exceeding five km, within the Company’s 54km Mick Well REE target corridor in WA.
The company has received further rock chip results from the high grade REE mineralisation discoveries at its 100% owned projects in the Gascoyne Mineral Field, confirming the discovery of mineralisation at MW7.
Our on-going field work along our 54km target corridor at Mick Well continues to deliver new high grade REE discoveries, with the latest results from MW7 confirming another series of parallel dykes and veins just 700m northwest of our high grade MW2 discovery,” Executive Director and CEO, James Farrell, said.
“The current mapping has largely focused on just five km of the 54km corridor and has already confirmed over five km of outcropping mineralisation in cross-cutting structures. There is no doubt this is developing into a significant REE corridor and region.
“Our drilling programme at MW2 is progressing well and is on schedule. The first samples have already left site and we expect to see the first laboratory assays in January of next year.”
MW7
Rock chip sampling results from the recently discovered MW7 prospect have confirmed the discovery of a new lode with an additional strike length of more than 1000m of outcropping mineralisation. On-going mapping has also identified a second target at MW7; the target is interpreted to merge with the initial MW7 discovery.
The MW7 prospect is located 700m northwest of MW2, where drilling earlier this year returned high grade REE results of 5m at 3.45% TREO and where rock chips sampling has returned results of over 40% TREO.
MW2
Additional rock chip results from samples collected prior to the current drilling program at MW2 have led to the identification of an additional mineralised lode. New high-grade results from the recently identified REE lode as well as other results received from MW2.
The current mapping and rock chipping work is targeting a large number of laterally-extensive high priority targets in a broad area that extends 10km west-northwest from MW2.
The targets in this area are also associated with carbonatite complexes as well as high thorium and magnetic responses – similar to what is seen from the newly identified outcropping mineralisation at MW2. Significantly, all of these targets within this 10km long area also lie within Kingfisher’s target corridor, the Chalba Shear Zone, which extends for 54km across the Company’s Gascoyne tenure.
The Chalba Shear Zone is a broad WNW-trending crustal-scale structure that has played an important role in providing a conduit for the intrusion of the carbonatites, as well as the associated alteration and late-stage mineralised veins and carbonatite dykes. Fenites (carbonatite-associated alteration) and potassium fenites, are well-developed in the Mick Well area and are an important host of the REE mineralisation.
2022 Gascoyne Exploration Program
Kingfisher is carrying out extensive and targeted exploration programs for its Gascoyne projects during 2022. The planned exploration is cost-effective and aims to develop and test drill targets from ground-based mapping and rock sampling. The Company also plans to simultaneously develop a pipeline of exploration opportunities through integrating current and scheduled tenement-scale airborne geophysical surveys with geological knowledge from the company’s breakthrough REE discovery at Mick Well.
