👀 Ones to watch: The MOST undervalued shares to buy right nowSee Undervalued Shares

Kingfisher Mining outlines two rare earth zones along with base metals at Mick Well

Published 12/11/2024, 09:21 am
Updated 12/11/2024, 10:00 am
Kingfisher Mining outlines two rare earth zones along with base metals at Mick Well
KGF
-

Kingfisher (LON:KGF) Mining Ltd (ASX:KFM) has confirmed the presence of rare earth element (REE) and base metal mineralisation at the Mick Well Project in Western Australia.

A diamond drilling program revealed two zones of rare earth mineralisation within the carbonatite dykes at Mick Well, demonstrated by a result of 0.85 metres at 1.39% total rare earth oxides (TREO) from 74.1 metres of depth.

That drill hole also revealed an associated result of 0.2 metres at 1.7% copper and 0.22 g/t gold from 128.15 metres.

Large carbonatite alteration halo

“These assays confirmed the presence of two new rare earths lodes along with base metals within a large carbonatite alteration system,” Kingfisher Mining non-executive chair Warren Hallam said.

“This is a significant step forward in confirming that Mick Well is a significant regional-scale REE system similar to other global REE systems with the majority being associated with carbonatites and base metals."

The company has also received the first 80% of the co-funded drilling refund from the DEMIRS of $152,403.65, with the remaining 20% to be awarded when the program’s drill core is submitted to the department.

“Kingfisher would like to reiterate its thanks to the Department of Energy, Mine, Industry Regulation and Safety (DEMIRS) for co-funding the drilling through the Exploration Incentive Scheme (EIS).”

KFM has interpreted the REE and base metal mineralisation at Mick Well to be encapsulated in a carbonatite alteration halo similar to some of the world’s most notable REE deposits.

Kingfisher is now assessing downhole geophysics techniques to investigate additional targets near known mineralisation.

Read more on Proactive Investors AU

Disclaimer

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.