Black Friday Sale! Save huge on InvestingProGet up to 60% off

Kingfisher Mining unearths copper rock chips up to 21.6% at Ring Well prospect

Published 10/10/2024, 11:58 am
Updated 10/10/2024, 12:31 pm
© Reuters.  Kingfisher Mining unearths copper rock chips up to 21.6% at Ring Well prospect
KGF
-
HG
-

Kingfisher (LON:KGF) Mining Ltd (ASX:KFM) has uncovered high-grade copper rock chips at Ring Well prospect near the Mick Well Project in Western Australia's Gascoyne region with values as high as 20.2% and 21.6% from an outcropping surface zone with at least 44 metres of strike exposed.

KFM zeroed-in on the outcropping copper following a regional evaluation of gossan formations, a type of outcropping iron-rich rock which tends to serve as a signpost of what lies beneath the surface.

The results are particularly promising as this is the first notable exploration to take place over the Ring Well prospect, with a complete absence of historical drilling or any surface geophysics.

Adds to base metal and REE potential

“The rock chips at Ring Well complement the additional base metal opportunities already identified at Kingfisher,” Kingfisher Mining non-executive chair Warren Hallam said.

“These are very high grades in addition to the mineralisation being untested by drilling or ground-based geophysics.

“Moreso, the Ring Well mineralisation occurs 12.3 kilometres from the Mick Well rare earth element (REE) mineralisation and 5.4 kilometres from the Kingfisher base metal mineralisation.

“Work is ongoing, especially in light of the copper mineralisation identified in the recent co-funded diamond drilling to establish the context of the copper seen widely over the Mick Well tenure.”

KFM intends to extend the strike length of the Ring Well Prospect, delving beneath the surface while also determining the copper potential of other areas identified within the same field evaluation.

Shares are 18.97% higher on the ASX intra-day, at A$0.069.

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.