- Kingfisher Mining (KFM) confirms “significant” clay rare earth element mineralisation at the Mick Well prospect within its exploration licences in the Gascoyne Mineral Field in WA
- Reverse circulation drilling of the mineralised clays at Mick Well confirmed clay-hosted rare earth elements, returning results of up to 2345 parts per million TREO from surface
- Kingfisher says these new results confirm the mineralisation is part of the same large-scale mineral system within the company’s 54-kilometre target corridor
- Metallurgical testwork is now underway to assess the extraction of the REE from the clay mineralisation, with further drilling planned for October
- Kingfisher Mining last traded at 53 cents on September 5
Kingfisher Mining (KFM) has confirmed “significant” clay rare earth element mineralisation at the Mick Well prospect within its Gascoyne Mineral Field projects in Western Australia.
The company said follow-up reverse circulation drilling of the mineralised clays at Mick Well confirmed high-grade, clay-hosted rare earth elements (REE).
Results from the drilling included 24 metres at 2345 parts per million total rare earth oxides (TREO) from surface, including eight metres at 3011 parts per million TREO from surface.
According to Kingfisher, the clay mineralisation intersections were thick and high-grade and confirmed the continuity of mineralisation downhole and along-strike, suggesting a potential strike length of more than 6.5 kilometres.
Kingfisher said these new results built upon previously-reported clay REE assays from Mick Well and were part of the same large-scale mineral system within the company’s 54-kilometre target corridor.
Kingfisher’s Executive Director and CEO, James Farrell, said he continued to be amazed by the underlying potential of the Gascoyne projects.
“In addition to the very high-grade hard rock assays recently reported, these latest drill results have confirmed broad zones of clays containing a second style of REE mineralisation at Mick Well,” James Farrell said.
“We now recognise that the clay and hard rock mineralisation are part of the same large-scale system, with the clay mineralisation hosted in broad structures within our 54-kilometre target corridor indicating the potential for larger mineralised carbonatite intrusions at depth.”
The company is now conducting metallurgical sighter testwork to assess the extraction of the REE from the clay mineralisation.
Further assay results from sampling around the mineralisation are expected in September ahead of further drilling planned for October.
Kingfisher Mining last traded at 53 cents on September 5.