- Kingfisher Mining (KFM) receives assays from maiden diamond drilling at the Boolaloo Project in Western Australia
- Grades peak at only 2.68 per cent copper and 0.49 grams of gold per tonne, but the results show broad alteration and mineralisation zones, and inform the mineralisation style
- After drilling finished, Kingfisher completed a survey which has identified three bedrock conductors that have a strong electromagnetic response
- These conductors will be followed up with an upcoming reverse circulation drilling program
- Company shares are trading flat at 18.5 cents at 1:10 pm AEST
Kingfisher Mining (KFM) has received assays from a maiden drilling program at the Boolaloo Project in Western Australia.
Latest results include 0.85 metres at 2.68 per cent copper and 0.49 grams of gold per tonne (g/t) from 32.35 metres within a broader zone of 10.05 metres at 0.84 per cent copper and 0.11g/t gold from 23.15 metres.
While the grades aren’t high, Executive Director and CEO James Farrell found the results encouraging.
“Given this is our first drilling program, the results are very encouraging, with broad zones of alteration and mineralisation intersected at Copper Strike. The core samples have also provided valuable insight into the nature and style of mineralisation at Boolaloo.”
Once diamond drilling was completed, Kingfisher conducted an airborne electromagnetic (EM) survey over 20 kilometres of strike at the project.
Positively for the company, the EM survey highlighted three discrete bedrock conductors — all of which are associated with the same mineralisation and alteration zones intersected in drilling, but have a stronger geophysical response.
Kingfisher Mining will use the results from diamond drilling to guide an upcoming reverse circulation program which will target the EM conductors.
The company will also undertake mapping and rock chip sampling across the Boolaloo, Kingfisher and Mick Well projects in the current quarter.
Company shares were trading flat at 18.5 cents at 1:10 pm AEST.