Kingfisher Mining (ASX:KFM) begins follow-up drilling program at MW2 – The Market Herald

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  • Kingfisher Mining (KFM) begins a follow-up drilling program on its MW2 prospect in the Gascoyne mineral field in Western Australia
  • Seven reverse circulation holes will be drilled following a previous drill program that intersected 5.21% TREO with 0.98% neodymium oxide and praseodymium
  • The drilling is expected to last a week and the results will be announced in early September.
  • Simultaneously, Kingfisher plans to develop a pipeline of exploration opportunities by integrating process-scale airborne geophysical surveys
  • Kingfisher was down 12% in the market with shares trading at 22 cents at market close

Kingfisher Mining (KFM) has started a follow-up drilling program on its MW2 prospect in the Gascoyne mineral field in Western Australia.

Seven reverse circulation holes, over approximately 750 meters, will be drilled to follow the high-grade rare earth elements (REE) intersected in previous drill programs.

Results of this work include five meters at 3.45% total rare earth oxides (TREO) with 0.65% neodymium and praseodymium oxide, including three meters at 5.21% TREO at 0, 52% TREO with 0.98% neodymium oxide and praseodymium.

These results confirmed a second zone of mineralization that shares the same geology as previously reported outcrop mineralization 500 meters northwest of MW2 that intersected up to 21.13% TREO.

The drilling is expected to last a week and the results will be announced in early September.

Simultaneously, Kingfisher plans to develop a pipeline of exploration opportunities by integrating process-scale airborne geophysical surveys.

“We jumped at the chance to follow up on the impressive drill results that have already been returned from MW2 and drilling is now underway,” said CEO and Executive Director James Farrell.

“The recently discovered high-grade rare earth mineralization which extends over a strike length of 800 meters and is located 500 meters north of MW2 could not be included in this program due to the narrow window of availability of minerals. drilling rigs. We expect this mineralization to be included in our next drill program.

“This drill campaign will provide valuable information ahead of the larger program
locked for later in the year, which will incorporate existing and new targets defined by our ongoing regional exploration across the Chalba Shear.

Kingfisher was down 12% in the market with shares trading at 22 cents at market close.