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Vancouver, B.C. – April, 27, 2021 – Kingfisher Metals Corp. (TSX-V: KFR) (“Kingfisher” or the “Company”) is pleased to announce that the Company has entered into an agreement with PI Financial Corp. (“PI Financial”) as sole bookrunner, in connection with a marketed best efforts private placement of up to 4,760,000 charity flow-through units (the “Charity FT Units”) and 1,965,000 flow-through units (the “FT Units”) of the Company to raise aggregate gross proceeds of up to approximately C$4.0 million.
The Charity FT Units will be offered by way of a best efforts private placement pursuant to exemptions from the prospectus requirements to residents of the Provinces of British Columbia, Alberta, Saskatchewan, Ontario, Quebec, and such other Canadian jurisdictions as may be agreed to by the Company and PI Financial, at a price of C$0.63 per Charity FT Unit. Each Charity FT Unit shall consist of one charity flow-through common share and one half of one transferable non-flow-through common share purchase warrant (each whole such common share purchase warrant, a “Warrant”).
The FT Units will be offered by way of a best efforts private placement pursuant to exemptions from the prospectus requirements to residents of the Provinces of British Columbia, Alberta, Saskatchewan, Ontario, Quebec, and such other Canadian jurisdictions as may be agreed to by the Company and PI Financial, at a price of C$0.51 per FT Unit. Each FT Unit shall consist of one flow-through common share and one half of one transferable non-flow-through common share purchase Warrant.
Each Warrant shall be exercisable into one additional non-flow-through common share of the Company for 24 months from the Closing Date at an exercise price of C$0.70.
The aggregate gross proceeds raised from the Charity FT Units and FT Units will be used before 2023 for general exploration expenditures which will constitute Canadian exploration expenses (within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the “Tax Act”)), that will qualify as “flow through mining expenditures” within the meaning of the Tax Act.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Kingfisher Metals Corp.
Kingfisher Metals Corp. (https://kingfishermetals.com/) is a Canadian based exploration company focused on underexplored district-scale projects in British Columbia. Kingfisher has three 100% owned district-scale projects that offer potential exposure to high-grade gold, copper, silver, and zinc. The Company currently has 68,945,801 shares outstanding.
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
Disclaimer and Forward-Looking Information
Statements contained in this release that are not historical facts are forward-looking statements that involve various risks and uncertainty affecting the business of KFR. In making the forward-looking statements, KFR has applied certain assumptions that are based on information available, including KFR’s strategic plan for the near and mid-term. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. KFR does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
Vancouver, B.C. – April 21, 2021 – Kingfisher Metals Corp. (TSX-V: KFR) (FSE:970) (“Kingfisher” or the “Company”) is pleased to announce rock sampling and backpack drilling results from the 2020 exploration program at its 100% owned Goldrange Project, located in southwestern British Columbia. The Goldrange Project is located approximately 25km south of the town of Tatla Lake with logging road access to the north end of the 367km2 project.
Highlights
Backpack drilling of 10.84 g/t Au over 6.9 m from surface.
33 rock samples with an average grade of 11.64 g/t Au and a median grade of 4.73 g/t Au.
8 rock samples over 10 g/t Au with highlights of 82.10 g/t Au, 63.90 g/t Au, 40.40 g/t Au, and 31.80 g/t Au.
“The results from our Cloud Drifter Trend continue to impress us. Our 2020 work has now returned 312 rock samples averaging 6.26 g/t Au. Additionally, it is very encouraging to see good grades over significant widths from surface in backpack drilling. We are very excited to put the first diamond drill holes into the Cloud Drifter Trend this summer.” Stated CEO, Dustin Perry.
“In just a handful of field days our exploration team discovered two new gold showings and collected outstanding results from the Standard Zone. These time-efficient products are a testament to our hard working, results-driven team. This new mineralization style provides us with a key vector for analogous focused gold corridors within the Cloud Drifter Trend.” Stated VP Exploration, Gayle Febbo.
The Goldrange Project covers a significant deformation zone with numerous precious metal veins across the project. Mineralization at Goldrange occurs as orogenic gold of similar age of the Bridge River camp, part of the Yalakom Gold Belt. Several areas of historical hand mining are located within the project and date back to the 1930s.
The 2020 exploration program was focused on defining drill targets at the Cloud Drifter Trend as well as evaluating the potential of several historically sampled mineralized zones on the project.
The Cloud Drifter Trend is a band of several historical zones of mineralization tied together by a highly anomalous Au-Ag-As-Sb-Cu-Bi-Te soil anomaly with grades up to 22.08 g/t Au (see March 31, 2021 release). Limited historical rock sampling was completed within the highest strength geochemical anomaly at the Cloud Drifter Zone and was the focus of 2020 work.
Previously released rock sampling at the Cloud Drifter Trend outlined 279 rock samples grading up to 128.90 g/t Au and averaging 5.62 g/t Au (see April 14, 2021 release).
The current release includes 33 rock samples (figure 1) and one backpack drill hole totalling 9.60m. Rock chip sampling returned grades from 0.03 g/t Au to 82.1 g/t Au with an average grade of 11.64 g/t Au (table 1). Rock grab samples are selective in nature and cannot be considered as representative of the underlying mineralization. Backpack drilling returned 10.84 g/t Au over 6.90m from surface at the Standard Zone.
Figure 1: Cloud Drifter Trend 2020 Rock Samples
Au g/t
Ag g/t
Cu %
# Samples
33
33
33
Minimum Value
0.033
0.2
0.0015
Maximum Value
82.067
47.6
0.99
Average Value
11.64
10.2
0.17
Median Value
4.73
5.1
0.05
90th Percentile
36.96
30.24
0.57
Table 1: Standard, Essential, and Waterfall 2020 Rock Samples
The Standard, Essential, and Waterfall Zones (figure 2) occur along north trending fold corridors that project under talus cover towards the Cloud Drifter Zone. Mineralization is focused along gentle to moderately east-dipping veins and local sulfide-cement breccia along the fold hinge.
Figure 2: Standard, Essential, and Waterfall 2020 Rock Samples
Backpack drilling was completed in one hole (BP-ST-20-01) above the historical workings. Drilling was collared to test a prominent gossan up slope of the adit. The 9.6m vertical drill hole was oriented perpendicular to flat lying veins in the area and down the hinge of an anticline. Drilling encountered gold mineralization throughout the hole with a highlight intercept of 10.84 g/t Au over 6.90m from surface containing a sub-interval of 18.35 g/t Au over 2.90m from 1.09m. Detailed drill results can be found within the appendix of the linked technical presentation.
Quality Assurance and Quality Control
Rock samples were submitted to Acme Labs, a division of Bureau Veritas, located in Vancouver, British Columbia, an ISO9001:2008 accredited laboratory. The rocks samples were prepared using the PRP70-250 method by crushing 1.0kg of rock to =>70% passing through a 2mm sieve. Two hundred and fifty grams was then pulverized so that =>85% passes through a less than 75 μm sieve. A 0.25g split was then subjected to a 4 acid near total digest where the split is heated in a HNO3, HClO4 and HF solution to fuming, dried and then dissolved in HCL. The resulting solution was then analyzed for 45 major and trace elements using ICP-ES/MS (method code MA200). A 30g split was analyzed for gold using a lead collection fire assay fusion that was then digested and analyzed using AAS (method code FA430).
A 30g split of samples that assayed >10ppm gold and/or >200ppm Ag were analyzed using a lead collection fire assay fusion with a gravimetric finish (method code FA530). Samples that assayed for >200 ppm W, > 4000ppm Bi, Mo, Sb, >10000 ppm Cu, Pb or Zn were digested using a HNO3, HClO4 and HF solution to fuming, dried and then dissolved in HCL. The resulting solution was then analyzed using ICP-ES (method code MA370). Samples that assayed > 10000ppm As were digested using a modified aqua regia digestion (1:1:1 HNO3:HCl:H2O) and analyzed using ICP-ES (method code MA370).
Qualified Person
Dustin Perry, P.Geo., Kingfisher’s CEO, is the Company’s Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects, and has prepared the technical information presented in this release.
About Kingfisher Metals Corp.
Kingfisher Metals Corp. (https://kingfishermetals.com/) is a Canadian based exploration company focused on underexplored district-scale projects in British Columbia. Kingfisher has three 100% owned district-scale projects that offer potential exposure to high-grade gold, copper, silver, and zinc. The Company currently has 68,945,801 shares outstanding.
For further information, please contact:
Dustin Perry, P.Geo. CEO and Director Phone: +1 236 358 0054 E-Mail: [email protected]
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. All statements, other than statements of historical fact, are forward-looking statements or information. Forward-looking statements or information in this news release relate to, among other things: formulation of plans for drill testing; and the success related to any future exploration or development programs.
These forward-looking statements and information reflect the Company’s current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include; success of the Company’s projects; prices for gold remaining as estimated; currency exchange rates remaining as estimated; availability of funds for the Company’s projects; capital, decommissioning and reclamation estimates; prices for energy inputs, labour, materials, supplies and services (including transportation); no labour- related disruptions; no unplanned delays or interruptions in scheduled construction and production; all necessary permits, licenses and regulatory approvals are received in a timely manner; and the ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive.
The Company cautions the reader that forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements or information contained in this news release and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: fluctuations in gold prices; fluctuations in prices for energy inputs, labour, materials, supplies and services (including transportation); fluctuations in currency markets (such as the Canadian dollar versus the U.S. dollar); operational risks and hazards inherent with the business of mineral exploration; inadequate insurance, or inability to obtain insurance, to cover these risks and hazards; our ability to obtain all necessary permits, licenses and regulatory approvals in a timely manner; changes in laws, regulations and government practices, including environmental, export and import laws and regulations; legal restrictions relating to mineral exploration; increased competition in the mining industry for equipment and qualified personnel; the availability of additional capital; title matters and the additional risks identified in our filings with Canadian securities regulators on SEDAR in Canada (available at www.sedar.com). Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described, or intended. Investors are cautioned against undue reliance on forward-looking statements or information. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances.
Vancouver, B.C. – April 14th, 2021 – Kingfisher Metals Corp. (TSX-V: KFR) (FSE:970) (“Kingfisher” or the “Company”) is pleased to announce its initial rock sampling and backpack drilling results from the 2020 exploration program at its 100% owned Goldrange Project, located in southwestern British Columbia. The Goldrange Project is located approximately 25km south of the town of Tatla Lake with logging road access to the north end of the 367km2 project.
Highlights
279 rock samples with an average grade of 5.62 g/t Au and a median grade of 2.22 g/t Au.
38 samples over 10 g/t Au with highlights of 128.90 g/t Au, 67.20 g/t Au, 53.90 g/t Au, 48.10 g/t Au, 46.00 g/t Au, and 45.60 g/t Au.
Channel sampling up to 2.08 g/t Au over 6m.
Backpack drilling up to 0.97 g/t Au over 8.3m.
Identification of multiple structural styles of mineralization within intrusive, volcanic, and sedimentary rocks.
Identification of two broad areas of intense structurally-hosted quartz veins at the Cloud Drifter and Langara Zones.
“An average grade of 5.62 g/t Au over 279 samples is very significant and helps to explain what is causing the 3 km-long gold-in-soil anomaly. All shallow backpack drill holes in the Cloud Drifter Trend returned gold mineralization and hand trenches in the forest were also successful at outlining gold mineralization.” Stated CEO, Dustin Perry.
“Our 2020 field program encountered many new zones of previously unsampled mineralization, which suggests that this highly prospective segment of the Yalakom Gold Belt has been largely underexplored. Our geological model corroborates the geochemical results along the trend and allows us to plan our 2021 drill program with confidence.” Stated VP Exploration, Gayle Febbo.
The Goldrange Project covers a significant deformation zone with numerous precious metal veins across the project. Mineralization at Goldrange occurs as orogenic gold of similar age of the Bridge River camp, part of the Yalakom Gold Belt. Several areas of historical hand mining are located within the project and date back to the 1930s.
The 2020 exploration program was focused on defining drill targets at the Cloud Drifter Trend as well as evaluating the potential of several historically sampled mineralized zones on the project.
The Cloud Drifter Trend is a band of several historical zones of mineralization tied together by a highly anomalous Au-Ag-As-Sb-Cu-Bi-Te soil anomaly with grades up to 22.08 g/t Au (see March 31, 2021 release). Limited historical rock sampling was completed within the highest strength geochemical anomaly at the Cloud Drifter Zone and was the focus of 2020 work.
There were 279 rock samples (figure 1) within the Cloud Drifter and Langara Zones at the Cloud Drifter Trend. The average value of the 2020 results is 5.62 g/t Au with a median value of 2.22 g/t Au (table 1). Rock sample results range from below detection limit to 128.90 g/t Au. Rock grab samples are selective in nature and cannot be considered as representative of the underlying mineralization.
Rock sampling within the Cloud Drifter Zone (figure 2) was highly successful at outlining several broad areas of quartz-sulfide mineralization where very limited historical work had been completed. Sampling at the upper Cloud Drifter Zone (see inset in figure 2) was completed with significantly more detail than elsewhere due to excellent exposure in that location.
Figure 2: Cloud Drifter Zone 2020 Rock Samples
Backpack drilling (49.97 m over 15 shallow holes) was completed at the Argo and Upper Cloud Drifter Zones as well as the Langara Zone. Drilling was completed where access was safe and possible given that no drill pads were built. Given the forested nature of the majority of the Cloud Drifter soil anomaly and the access issues from possible helicopter landing sites, no drilling was completed within this area. Backpack drilling is limited in its penetration capability and the deepest drill hole included within this release was 8.3m.
Highlights from backpack drilling within the Cloud Drifter Trend include:
8.3m of 0.97 g/t Au in hole BP-CD-20-02
1m of 6.05 g/t Au in hole BP-CD-20-05
4m of 0.28 g/t Au, 33.65 g/t Ag, and 0.42% Cu in BP-LG-20-06
Detailed assay results for all backpack drill holes as well as annotated core photos for BP-CD-20-02 can be found within the presentation associated with this release.
Rock sampling at the Langara Zone (figure 3) was limited in its extent and focused around two historic adits, which date back to the 1930s. Access to the adits was not possible due to recent talus obscuring the entrances. Sampling from dumps and workings returned values up to 14.4 g/t Au. The peak value from the Langara Zone was 30.2 g/t Au which exceeded historically documented peak values in the zone. The peak silver value within the Cloud Drifter Trend was located within the Langara Zone and returned 1500.1 g/t Ag.
Figure 3: Langara Zone 2020 Rock Samples
Quality Assurance and Quality Control
Rock samples were submitted to Acme Labs located in Vancouver, British Columbia, an ISO9001:2008 accredited laboratory. The rocks samples were prepared using the PRP70-250 method by crushing 1.0kg of rock to =>70% passing through a 2mm sieve. Two hundred and fifty grams was then pulverized so that =>85% passes through a less than 75 μm sieve. A 0.25g split was then subjected to a 4 acid near total digest where the split is heated in a HNO3, HClO4 and HF solution to fuming, dried and then dissolved in HCL. The resulting solution was then analyzed for 45 major and trace elements using ICP-ES/MS (method code MA200). A 30g split was analyzed for gold using a lead collection fire assay fusion that was then digested and analyzed using AAS (method code FA430).
A 30g split of samples that assayed >10ppm gold and/or >200ppm Ag were analyzed using a lead collection fire assay fusion with a gravimetric finish (method code FA530). Samples that assayed for >200 ppm W, > 4000ppm Bi, Mo, Sb, >10000 ppm Cu, Pb or Zn were digested using a HNO3, HClO4 and HF solution to fuming, dried and then dissolved in HCL. The resulting solution was then analyzed using ICP-ES (method code MA370). Samples that assayed > 10000ppm As were digested using a modified aqua regia digestion (1:1:1 HNO3:HCl:H2O) and analyzed using ICP-ES (method code MA370).
Qualified Person
Dustin Perry, P.Geo., Kingfisher’s CEO, is the Company’s Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects, and has prepared the technical information presented in this release.
About Kingfisher Metals Corp.
Kingfisher Metals Corp. (https://kingfishermetals.com/) is a Canadian based exploration company focused on underexplored district-scale projects in British Columbia. Kingfisher has three 100% owned district-scale projects that offer potential exposure to high-grade gold, copper, silver, and zinc. The Company currently has 68,945,801 shares outstanding.
For further information, please contact:
Dustin Perry, P.Geo. CEO and Director Phone: +1 236 358 0054 E-Mail: [email protected]
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. All statements, other than statements of historical fact, are forward-looking statements or information. Forward-looking statements or information in this news release relate to, among other things: formulation of plans for drill testing; and the success related to any future exploration or development programs.
These forward-looking statements and information reflect the Company’s current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include; success of the Company’s projects; prices for gold remaining as estimated; currency exchange rates remaining as estimated; availability of funds for the Company’s projects; capital, decommissioning and reclamation estimates; prices for energy inputs, labour, materials, supplies and services (including transportation); no labour- related disruptions; no unplanned delays or interruptions in scheduled construction and production; all necessary permits, licenses and regulatory approvals are received in a timely manner; and the ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive.
The Company cautions the reader that forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements or information contained in this news release and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: fluctuations in gold prices; fluctuations in prices for energy inputs, labour, materials, supplies and services (including transportation); fluctuations in currency markets (such as the Canadian dollar versus the U.S. dollar); operational risks and hazards inherent with the business of mineral exploration; inadequate insurance, or inability to obtain insurance, to cover these risks and hazards; our ability to obtain all necessary permits, licenses and regulatory approvals in a timely manner; changes in laws, regulations and government practices, including environmental, export and import laws and regulations; legal restrictions relating to mineral exploration; increased competition in the mining industry for equipment and qualified personnel; the availability of additional capital; title matters and the additional risks identified in our filings with Canadian securities regulators on SEDAR in Canada (available at www.sedar.com). Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described, or intended. Investors are cautioned against undue reliance on forward-looking statements or information. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances.
