Kingfisher Mining Limited - Co-Funded Drilling Underway at Mick Well Carbonatite Pipe Targets

About this update from Kingfisher Mining Ltd.

Kingfisher Mining Limited (ASX:KFM) ('Kingfisher' or the 'Company') is pleased to announce the commencement of co-funded diamond drilling of the Mick Well carbonatite pipe targets. In addition to the cofunded drilling, Kingfisher continues with the ongoing evaluation of the base metal opportunities within its Gascoyne tenur Kingfisher's non-executive chairman Warren Hallam commented: 'We are excited to have the co-funded diamond drilling program underway. The program integrates the geophysical targets within an area surrounded by high grade REE mineralisation and the carbonatite targets are potentially the source of REE mineralisation at depth. The successful awarding of co-funding vindicates the high-quality targets and technical work of the Kingfisher team to date. Kingfisher is grateful for DEMIRS support in awarding the co-funded drilling. In addition to the co-funded drilling the company is on the ground evaluating the base metal opportunities within the company's tenement package.' Mick Well Co-funded Drill Program Drilling is underway at Mick Well with a planned program of two diamond drill holes for approximately 1200m. Kingfisher has been awarded $200,000 of co-funding for drilling of the Mick Well carbonatite pipe targets under the Department of Energy, Mines, Industry Regulation and Safety (DEMIRS) Exploration Incentive Scheme (EIS). The three large carbonatite pipe targets at Mick Well have been identified below the Company's high-grade vein and dyke REE mineralisation discoveries. The carbonatite pipe targets were generated through three-dimensional modelling of the Company's gravity and magnetics data, with areas with more dense and more magnetic rocks identified from the geophysics. Each of the target pipes is more than 1,000m in diameter and close to surface, with the depth to the top of each target being less than 50m below the ground surface. The carbonatite pipe targets are all located in the centre of the large area of outcropping carbonatites and associated fenite alteration at Mick Well. The modelled targets are also directly associated with the vein and dyke REE mineralisation which envelop and radiate away from the interpreted intrusion centres. The drilling will target the central and eastern pipes, with additional drilling planned in other location About the Kingfisher's Gascoyne Projects Kingfisher's Mick Well REE Project and Chalby Chalby Lithium Project are located in the Gascoyne region of Western Australia where the Company holds exploration licences covering 938km2 . The tenure is prospective for carbonatite REE mineralisation similar to Hastings Technology Metals' world-class Yangibana Deposit which includes 29.93Mt at 0.93% TREO as well as the recent Yin and C3 discoveries of Dreadnought Resources which include mineral resources of 40.82Mt at 1.03% TREO^. The Company's Gascoyne tenure is also prospective for lithium-bearing Thirty Three Suite Pegmatites which hosts Delta Lithium's Yinnetharra Project and has a Mineral Resource of 25.7 Mt at 1.0% Li2O from Delta's Malinda Prospect and rock chips results of 4.2% Li2O+ from Delta's Jamesons Prospect. The Kingfisher prospect has historically been explored for base metals with base metals mineralisation outcropping at surface. Kingfisher has made discoveries of hard rock and clay rare earth elements mineralisation at Mick Well. Both styles of mineralisation are associated with carbonatites that intruded along a crustal-scale structural corridor, the Chalba Shear, which extends over a strike length of 54km within the Company's tenure. The Company has also identified a second structural corridor along the Lockier Shear which extends for 18km across the Company's Mooloo Project and 12km across the Arthur River Project . Drilling at the MW2 Prospect has intersected five parallel ferrocarbonatite lodes and associated monazite mineralisation within a 300m wide zone and has returned high-grade REE results with 5m at 2.63% TREO with 0.54% Nd2O3 + Pr6O11, 4m at 3.24% TREO with 0.54% Nd2O3 + Pr6O11, 5m at 1.54% TREO with 0.30% Nd2O3 + Pr6O11, 4m at 1.90% TREO with 0.34% Nd2O3 + Pr6O11 and 3m at 2.52% TREO with 0.41% Nd2O3 +Pr6O11. The results from the ferrocarbonatite mineralisation is 500m northwest of Kingfisher's breakthrough REE discovery where maiden drilling returned 5m at 3.45% TREO with 0.65% Nd2O3 + Pr6O11 as well as 12m at 1.12% TREO with 0.21% Nd2O3 + Pr6O11 from a separate mineralised lode. Kingfisher is also advancing it's Chalby Chalby Lithium Project with mapping and sampling at Chalby Chalby delineating an area of 3.3km by 3km that includes multiple stacked pegmatites with a cumulative strike length of over 13km and with surface sample results up to 0.61% Li2O. Contact: Warren Hallam Tel: +61 (08) 9481 0389 Email: [email protected] About Kingfisher Mining Limited Kingfisher Mining Limited (ASX:KFM) is a mineral exploration company committed to increasing value for shareholders through the acquisition, exploration and development of mineral resource projects throughout Western Australia . The Company's tenements cover 938km2 in the underexplored Gascoyne Mineral Field. The Company has made a number of breakthrough high grade rare earth elements discoveries in the Gascoyne region where it holds a target strike lengths of more than 54km along the Chalba mineralised corridor and more than 30km along the Lockier mineralised corridor Forward-Looking Statements This announcement may contain forward-looking statements which involve a number of risks and uncertainties. These forward-looking statements are expressed in good faith and believed to have a reasonable basis. These statements reflect current expectations, intentions or strategies regarding the future and assumptions based on currently available information. Should one or more of the risks or uncertainties materialise, or should underlying assumptions prove incorrect, actual results may vary from the expectations, intentions and strategies described in this announcement. No obligation is assumed to update forward looking statements if these beliefs, opinions, and estimates should change or to reflect other future developments. Competent Persons Statements The information in this report that relates to Exploration Results is based on information compiled by Mr Matthew Roach , a geologist and Exploration Manager employed by Kingfisher Mining Limited . Mr Roach is a Member of the Australian Institute of Geoscientists and has sufficient experience that is relevant to this style of mineralisation and type of deposit under consideration and to the activity that is being reported on to qualify as a Competent Person as defined in the 2012 edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Roach consents to the inclusion in the report of the matters in the form and context in which it appears. (C) 2024 Electronic News Publishing, source ENP Newswire

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