Kingfisher Mining finds new high-grade REE zone at Gascoyne target
Latest assays from Kingfisher Mining’s MW2 REE discovery returned a 1m interval grading 6.7% TREO.
Kingfisher Mining (ASX: KFM) has confirmed the discovery of high-grade continuous rare earth element (REE) mineralisation at the MW2 target within the Gascoyne mineral field in Western Australia.
Drilling in November and December comprised 37 holes for 4,225 metres, and was designed to target REE mineralisation identified in earlier surface mapping and sampling, located 500m northwest of the company’s initial discovery drilling in the area.
The latest results are believed to confirm Kingfisher’s 54km Chalba corridor as the next significant REE target in the emerging Gascoyne field, with intersections being comparable to results from the Bald Hill deposit which is part of Hastings Technology Metal’s (ASX: HAS) world-class Yangibana project.
Drilling results
Significant intercepts from drilling were 5m at 2.63% TREO (total rare earth oxides) and 0.54% neodymium and praseodymium oxide from 124m, including 1m at 6.7% TREO and 1.39% neodymium and praseodymium oxide rom 125m; and 4m at 3.24% TREO and 0.54% neodymium and praseodymium oxide from 46m, including 1m at 5.25% TREO and 0.84% neodymium and praseodymium oxide from 47m.
Other results were 5m at 1.54% TREO and 0.30% neodymium and praseodymium oxide from 75m, including 1m at 4.42% TREO and 0.84% neodymium and praseodymium oxide from 77m; and 4m at 1.90% TREO and 0.34% neodymium and praseodymium oxide from 65m, including 3m at 2.42% TREO and 0.43% neodymium and praseodymium oxide from 65m.
Separate lodes
The MW2 discovery occurs in five separate lodes with high REE grades distributed across the entire drilled strike length.
Mineralisation consists mainly of monazite, which is an important host for the magnet REE neodymium and praseodymium.
It is also low in thorium, typically being less than 200 parts per million for the reported intervals.
The mineralisation sits within very broad zones of well-developed fenite alteration specifically associated with the intrusion of carbonatites.
Kingfisher said the scale and intensity of the alteration is “highly encouraging” from an exploration perspective, providing evidence of the presence of a large-scale mineral system at Chalba.
Next large-scale zone
Chief executive officer James Farrell said drilling confirmed the Chalba Shear as the next large-scale REE target zone in the Gascoyne.
“This is a great outcome which follows on from the initial discovery of outcropping mineralisation at MW2 just six months ago, and is 12 months since our initial breakthrough REE discovery in the Mick Well area,” he said.
“MW2 is one of many identified targets along the Chalba corridor and there is potential for additional mineralisation discoveries and growth as our methodical exploration advances further along the shear.”
Exploration plans
He said the company was now focused on finalising exploration plans ahead of the upcoming field season.
“We have already booked a rig for infill and extensional drilling at MW2, particularly for the mineralisation in the southwest, where the current drilling is wide-spaced and there is potential to extend the mineralisation along strike and down-dip,” he said.
“Maiden drilling has also been planned at the MW8 and MW7 targets, where mapping and sampling has identified continuous mineralisation at surface over a strike length of 1.5km further to the northwest along the shear.”