- Kingfisher Mining (KFM) shares spike as it reports high grade total rare earth oxides (TREO) at its wholly-owned Mick Well prospect in Western Australia
- The prospect is located in the Gascoyne Mineral Field and is one of the multiple tenements held by KFM in the area
- This intersection contained multiple rare earth metals, including 12 metres at 0.21 per cent of Praseodymium oxide and Neodymium oxide
- Follow-up mapping of the 969 square kilometre tenement showed significant rare earth exploration potential for KFM’s expanding Gascoyne project
- Kingfisher Mining shares jumped 16.7 per cent to trade at 21 cents
Kingfisher Mining (KFM) shares have spike after it reported high grade total rare earth oxides (TREO) at its wholly-owned Mick Well prospect.
The prospect is located in the Gascoyne region of Western Australia and is one of the multiple tenements held by KFM in the area.
KFM has announced the results of the reverse circulation (RC) drill program that uncovered 12 meters at 1.12 per cent TREO, including four metres at 1.73 per cent high-grade TREO that helped establish the significant potential for a rare earth project.
This intersection contained multiple rare earth metals, including 12 metres at 0.21 per cent of Praseodymium oxide and Neodymium oxide and four meters at 0.31 per cent of Praseodymium oxide and Neodymium oxide.
Other anomalies from the prospect include four metres at 0.27 per cent TREO and four metres at 0.18 per cent from the same target while another target at Mick Well returned four metres at 0.17 per cent TREO.
Follow-up mapping of the 969 square kilometre tenement showed significant rare earth exploration potential for KFM’s expanding Gascoyne project.
The mapping and first-pass interpretation also identified 12 more potential areas of interest for carbon intrusions with associated alterations which have the potential to host rare earths.
According to the announcement, findings at this prospect compare with the world-class Yangibana Project.
“The discovery of the mineralisation and numerous outcropping carbonatites has highlighted the significant exploration potential of the area,” said CEO James Farrell.
‘Kingfisher has recently expanded its landholding in the region with targeted pegging of tenements considered prospective for rare earth elements. The return of anomalous results from two of the four targets tested at Mick Well and Kingfisher is highly encouraging,” he added.
Kingfisher Mining shares jumped 16.7 per cent to trade at 21 cents at 11:53 am AEDT.