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Mick Well REE Drill Program Completed - First Assays Expected in January 2023

  • MW2 drilling has been completed for 2022, with the latest drill program consisting of 37drill holes for 4,225m, which is part of a program to target mineralisation below high grade outcropping REE mineralisation (see ASX:KFM 14 November 2022).

  • The program was also designed to significantly expand upon previous drill results from MW2 which included 5m at 3.45% TREO (Total Rare Earth Oxides, ASX:KFM 5 July 2022), where the high grade monazite mineralisation occurs within well-developed potassium, sodium and mafic fenites that are associated with the intrusion of carbonatites. • Four additional holes were added to the program during drilling and due to constraints associated with rig availability five drill holes in the initial plan were delayed and will now be prioritised for completion in 2023.

  • The first samples from the drilling are already in the laboratory in Perth, with initial assays expected in January 2023.

  • A drill rig has already been booked for the next drilling program at Mick Well to commence at the start of the field season in Q2 2023. It is anticipated that the next program will include follow-up drilling along with drill testing of new targets at MW2 as well as maiden drilling at MW7.

  • Full details of the Company’s planned REE exploration activities will be announced in January 2023 with an expansion of activities anticipated as the Company focusses on further advancing its high grade REE discoveries at Mick Well.

Kingfisher Mining Limited (ASX:KFM) (“Kingfisher” or the “Company”) is pleased to announce that the drill program at its Mick Well REE project in the Gascoyne region of Western Australia has been completed.

Kingfisher’s Executive Director and CEO James Farrell commented: “I am pleased to announce the completion of drilling at Mick Well for 2022. Four drill holes added to the program and five other holes had to be delayed and will now be completed as part of our next drill program which we anticipate will include infill and additional drilling at MW2 as well as first-pass exploration drilling at MW7.

2022 was a fantastic year for the Company. In January we announced the breakthrough REE discovery at MW2, and not long after, we followed up with further high grade monazite mineralisation intercepts with 5m at 3.45% TREO and from the same program, we also identified high grade clay hosted REE mineralisation at the Mick Well prospect. As the year progressed, we continued to make discoveries of outcropping high grade REEs, first in the MW2 area and then at MW7 and MW8.

Our understanding of the geology in the Mick Well area is steadily advancing and we certainly believe we are looking at a regional scale REE system, with potential for large scale carbonatite intrusions. We are also seeing more similarities between MW2 and Hastings’ world-class Yangibana Project, and in particular, the Bald Hill deposit, which makes up the majority of the mineral resources at Yangibana. This is particularly important for the Company due to the significant breakthroughs we have already made at this early stage of exploration which has covered just 5km of the 54km Chalba target corridor.

In addition to the Chalba target corridor, we were fortunate to have tenure which covers a second 18km target REE corridor along the Lockier shear granted. This area makes up our new Mooloo Project and will be included in our exploration activities for 2023.

We are looking forward to receiving the assay results from the drilling, with the last of the samples expected to be delivered to Perth before Christmas and the first of the assay results expected in January 2023. Mick Well REE Drill Program Completed First Assays Expected in January 2023 ASX KFM 2 ASX Announcement: 20 December 2022 I would like to thank shareholders for their support and all of those involved in the project during 2022, I am already looking forward to continuing our exploration work in 2023”.


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