If you’re going to have a very large land holding, you can do much worse than preside over tenure in the highly prospective Gascoyne Mineral Field of Western Australia.
Regional-scale landholding
Kingfisher (LON:KGF) Mining Ltd (ASX:KFM) has just that – extensive tenement holdings amounting to nearly 1,000 square kilometres and wholly-owned projects in the bounty-rich region – and it is on the lookout for rare earths mineralisation.
The Gascoyne spans a complex and diverse geological landscape, including the ancient rock formations that are prime targets for mineral exploration.
It encompasses parts of the Pilbara and Mid-West regions, and is itself is part of the larger Capricorn Orogen, which is also mineral-rich.
The area has been known to yield a wide variety of mineral deposits including gold, copper, lead and zinc. It also has its share of industrial minerals like garnet and ilmenite.
Of late, lithium exploration has exploded in the area, alongside the hunt for rare earths.
The region benefits from established infrastructure, including roads, ports and airstrips, which facilitate mining operations and export activities. The proximity to major ports, such as those in the Pilbara region, enhances the logistical capabilities for mining companies.
The area has only latterly gained prominence for its rare earth elements (REEs), which are critical in various high-tech and green energy applications.
Rare earths are essential in manufacturing magnets, batteries and other components used in electronics, renewable energy technologies and defence systems.
The Gascoyne region's geological formations are conducive to rare earths mineralisation. The area hosts carbonatite complexes and alkaline intrusions, which are known to contain significant concentrations of REEs.
The mineralogy of these deposits often includes bastnaesite, monazite and xenotime, minerals that are rich in rare earth oxides.
Breakthrough discovery at Mick Well
The company's breakthrough high-grade REE discovery at Mick Well lies at the heart of this emerging rare earths region, where Kingfisher holds 938 square kilometres of exploration tenure and boasts an extensive target corridor for REE mineralisation.
Kingfisher's groundbreaking greenfield discovery has unveiled a large-scale REE mineral system in the Gascoyne region.
This find includes high-grade hard rock and clay mineralisation within a broad structural corridor extending 54 kilometres across the company’s tenure.
Kingfisher’s discovery offers a unique growth opportunity, underpinned by highly prospective geology, robust cash reserves, a tight capital structure and low market capitalisation.
This strong foundation positions the company for substantial future growth.
The Mick Well Project's REE discovery has enabled the company to establish a regional-scale landholding in one of the world’s key emerging REE regions.
Kingfisher aims to build value through discovery-focused exploration targeting large-scale carbonatite intrusions. The current exploration program is advancing high-quality carbonatite targets along the 54-kilometre Chalba and 30-kilometre Lockier target corridors.
Exploration has confirmed the potential for high-grade REE mineralisation in these areas.
Kingfisher's leadership team brings a strong background in metals exploration, project development and mining operations.
A highly engaged board and management possess the hands-on experience necessary to advance discoveries through development and onto production.
Copper and gold opportunities
Beyond the Gascoyne Mineral Field, Kingfisher holds 707 square kilometres in the underexplored Ashburton Mineral Fields, where it targets advanced copper-gold exploration opportunities.
The company's recent copper-gold discovery in this region further underscores its growth potential.
With a share price of A$0.22 and a market capitalisation of A$11.8 million, both as of June 2024, the company is well-funded with A$3.9 million in cash and no debt, resulting in an enterprise value of A$7.9 million.
Kingfisher has 53.7 million shares on issue, with an additional 11.9 million unlisted options and 14.9 million listed options, bringing the total fully diluted shares to 80.5 million.