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- Kingfisher Mining (KFM) adds 12 kilometres of strike to its Lockier Target corridor in WA, after identifying numerous rare earth element (REE) targets at its Arthur River project
- Airborne geophysical surveys identified seven targets, with the most notable being a nine-kilometre area comprising circular magnetic and thorium features
- All seven areas have features associated with carbonatite intrusions
- A review of historical exploration data is underway, with new targets being ranked and included in the company’s exploration activities for 2023
- KFM shares were up 10.5 per cent, trading at 52.5 cents at 1:21pm AEDT
Kingfisher Mining (KFM) has added 12 kilometres of strike to its Lockier Target corridor in Western Australia, after identifying numerous rare earth element (REE) targets at its Arthur River project.
Of particular note was a target that extends for more than nine kilometres, identified during magnetics and radiometrics airborne geophysical surveys.
The area features several circular magnetic and thorium responses, interpreted to be associated with carbonatite intrusions.
Six additional large-scale and high priority target areas were also identified with features similar to other known carbonatite intrusions.
These new targets expand the strike of the target corridor at Lockier to 30 kilometres.
“Our tenement-scale airborne geophysics surveys have once again led to the identification of more high quality and large-scale carbonatite targets,” Kingfisher’s Executive Director and CEO James Farrell said.
Additionally, Mr Farrell said the nine-kilometre target area was the “most significant” and “largest geophysical feature” identified so far, adding “significantly” to an “already impressive pipeline of geophysical targets and zones of outcropping high grade mineralisation”.
A review of historical exploration data is underway, with the new targets being ranked
and included in the company’s exploration activities for the remainder of 2023.
KFM shares were up 10.5 per cent, trading at 52.5 cents at 1:21pm AEDT.
