Kingfisher (LON:KGF) Mining Ltd (ASX:KFM) is encouraged by results from recent tenement-scale magnetics and radiometrics airborne geophysics surveys at its 100%-owned projects in the Gascoyne Mineral Field in Western Australia.
The results point to numerous potential carbonatite intrusion locations across the entire length of the company’s 54-kilometre Chalba target corridor identified from the tenement-scale airborne geophysics survey.
Total magnetic intensity for the Chalba target corridor showing priority carbonatite targets and interpreted faults. Targets are labelled CH1 to CH10 and were selected based on the magnetic, thorium and potassium responses from airborne geophysics surveys.
“Significant” large-scale target
The company is particularly buoyed by a “significant” new large-scale target confirmed at Kingfisher South, where geological mapping has already confirmed the presence of ferro-carbonatite intrusions.
The target includes a central area defined by a distinct circular magnetic feature 2 kilometres in diameter – a geophysical signature like other known carbonatite intrusions globally and within the region. It is surrounded by an area of high thorium and potassium which extends over a length of more than 6 kilometres along the Chalba target corridor.
This feature was successfully picked out by airborne geophysics, which the company regards as a cost-effective and powerful tool for early-stage targeting and project generation.
The new targets show geophysical responses akin to the Mick Well area, where geological mapping has delineated strike lengths of more than 5 kilometres of outcropping high-grade rare earth elements (REE) mineralisation and drilling has returned results of 5 metres at 3.45% total rare earth oxides (TREO), including 3 metres at 5.21% TREO.
Planning a busy year
As the result of the work the company has conducted, 10 high-priority target areas have been picked out, with each target selected from a combination of magnetic, potassium and thorium features.
Kingfisher plans to rank the new targets and include them in its exploration activities for 2023.
Kingfisher executive director and CEO James Farrell said: “The results from the airborne geophysics at our Gascoyne REE projects continue to highlight the significant potential of our belt-scale tenement holding in this globally important REE region.
“The survey adds another leg in our discovery journey which has led to the identification of numerous additional potential carbonatite intrusions along the 54-kilometre Chalba mineralised corridor.
“This is an enormously encouraging early development in the project generation, expanding our footprint beyond the Mick Well area, where we made our first breakthrough high grade REE discovery only 12 months ago.
“All of the selected targets have geophysical responses similar to Mick Well, where we have so far identified more than 5 kilometres of outcropping high-grade REE mineralisation strike, delineated by surface samples and drill results which includes 5 metres at 3.45% TREO.
“We are extremely excited and are looking forward to following up these dominant targets which will hopefully confirm that our Chalba mineralised corridor is world-class.”
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