- KingFisher Mining (KFM) gets high-grade results from rock chip sampling at Boolaloo Project in Western Australia
- The first batch of results reveal two new areas of high-grade copper and associated gold mineralisation
- Results from the Copper Strike prospect have returned very high grades including up to 37.8 per cent copper
- The last batch of rock chip results are expected at the end of this month along with assays from recent diamond drilling
- Company shares are down 3.9 per cent and were trading at 20 cents
KingFisher Mining (KFM) has received high-grade results from rock chip sampling at its Boolaloo Project in Western Australia.
The company conducted mapping and rock chip sampling to target copper and gold mineralisation. This work also aimed to improve KingFisher’s understanding of the geology and mineralisation potential within the region.
Significantly, this first batch of rock chip results have shown two newly identified areas of high-grade copper and associated gold mineralisation.
Results from new mineralised areas include 4.81 per cent copper and 0.47 grams of gold per tonne (g/t) and 18.3 per cent copper and 2.04g/t gold.
Infill results from the Copper Strike prospect include 37.8 per cent copper and 2.57g/t gold, 9.65 per cent copper and 0.57g/t gold, 10.6 per cent copper and 2.36g/t gold.
Executive Director and CEO James Farrell said this was a fantastic result for the company and highlighted the growth potential of the area.
“The first sample batch from our regional mapping and sampling program has identified two new areas of mineralisation, returning high-grade copper results with accompanying gold,” Mr Farrell said.
“Anomalous gold results have also been returned from first-pass sampling in the east of the company’s tenure and higher than expected gold assays from Copper Strike are also extremely encouraging.”
Results from the remaining 85 rock chip samples are pending and are expected to be received at the end of this month alongside assays from recent diamond drilling.
Once all results have been received, KingFisher Mining will begin reverse circulation drilling at high priority targets within the project.
Company shares were down 3.9 per cent and were trading at 20 cents at 11:34 am AEST.