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- Kingfisher Mining (KFM) strikes high-grade rare-earth elements following drilling at its MW2 prospect within the Gascoyne Mineral Field in Western Australia
- The latest drilling from MW2 confirmed multiple lodes, intersecting more than seven per cent total rare earth oxides over a one-metre interval
- The results also confirmed a second zone of mineralisation, consisting of predominantly fresh monazite, which Kingfisher says points to the emergence of a previously unrecognised REE region
- While follow-up drilling is being planned, Kingfisher anticipates drill results from other targets in the area to arrive within the coming weeks
- Kingfisher Mining last traded at 29 cents on July 4
Kingfisher Mining (KFM) has struck high-grade rare-earth elements following drilling at its MW2 prospect within the Gascoyne Mineral Field in Western Australia.
Kingfisher’s drilling program aimed to confirm the dip and strike of the mineralisation at MW2, following up on the results of the company’s recent rare earth element (REE) discovery.
The latest drilling from MW2 was said to confirm multiple lodes, with results including five metres at 3.45 per cent total rare earth oxides (TREO) with 0.65 per cent neodymium oxide and praseodymium, including three metres at 5.21 per cent TREO at 0.52 per cent TREO with 0.98 neodymium oxide and praseodymium.
The results confirmed a second zone of mineralisation, consisting of predominantly fresh monazite. This new zone has the same geology as Kingfisher’s recently reported outcropping mineralisation, situated 500 metres northwest of MW2, which returned rock chips grading up to 21.13 per cent TREO.
Kingfisher Executive Director and CEO James Farrell said the results from MW2 continued to point to the emergence of a previously unrecognised REE region.
“The grade of the mineralisation intersected in MWRC011 has significantly exceeded our expectations, especially with over seven per cent TREO intersected over a one-metre interval,” Mr Farrell said.
“The identification of a second mineralised zone which has the same geology as the recently announced discovery of a new 800 metres zone of outcropping REE mineralisation is an extremely positive sign for the potential of the MW2 prospect.”
While follow-up drilling is being planned, Kingfisher said it anticipated drill results from other targets in the area would be received within the coming weeks.
Kingfisher Mining last traded at 29 cents on July 4.
