Kingfisher Outlines Gold System at Day Trip Zone, Goldrange Project

VANCOUVER, British Columbia, November 9, 2022 – Kingfisher Metals Corp. (TSX-V: KFR) (FSE: 970) (OTCQB: KGFMF) (“Kingfisher” or the “Company”) is pleased to announce the results of rotary air blast (“RAB”) drilling, and surface geochemical and ground geophysical surveys at the 100% owned 511 km2 Goldrange Project. Goldrange is located approximately 25 km south of the town of Tatla Lake in the Chilcotin region of Southwest British Columbia.

Highlights

  • The Day Trip Zone is 5 km from the Cloud Drifter Zone and these results represent the first modern exploration efforts at this zone.
  • Gold anomalism is analogous to horizontal gold trends in 2021 drill results from the upper Cloud Drifter Zone, which lie spatially above high-grade feeders identified in 2022 (NR link).
  • Highlight intercepts include 2.7 g/t Au over 4.6 m in GRR-22-023, 0.5 g/t Au over 12.2 m in GRR-22-27, 2.1 g/t Au over 4.6 m in GRR-22-026, and 0.8 g/t Au over 9.1 m in GRR-22-013.
  • Shallow gold intercepts are open laterally and at depth, with an overall dip in geometry toward the west where 2022 rock sampling returned grades up to 49.8 g/t Au and extended the geochemical footprint 1 km to the west.
  • Induced Polarization (IP) geophysical survey identified several strong chargeability and conductivity anomalies over 2 km; two sizeable diamond drill targets were identified from coincident chargeability-conductivity anomalies at depths below RAB drill capabilities.

Dustin Perry, CEO states “Initial shallow RAB drilling at Day Trip shows a broad zone of open-ended gold anomalism over 1 km associated with strong chargeability and conductivity anomalies that stretch nearly 2 km.  Early indications point to there potentially being a significant gold system that will need subsequent drilling to the west and at depth.”  Day Trip Zone Overview

Kingfisher commenced the first-ever drill program at the Day Trip Zone with a RAB drill rig in May 2022. The initial 27 holes (Table 1) focused on a ~300 m by 200 m area at shallow depths of less than 78 m.

The Day Trip Zone covers a rounded mountain top approximately 5 km southeast of the Cloud Drifter Trend (Figures 1 and 2).  The target is situated between two interpreted fault splays off the regional Ottarasko Fault.  High-density intrusive-hosted veins, up to 2 m in width, occur over an area ~100 m by 400 m.  Quartz veins from this area returned grades from below detection limit to 6.7 g/t Au over 2 m.  Adjacent to the intrusion is a ~70 m x 90 m area of arsenopyrite-cement breccia in subcrop (Figure 1).  Approximately 20% of the subcrop material in this area consists of arsenopyrite-cement breccia and rocks grade from 3.4 to 20.1 g/t Au.  Talus fines sampling in 2020 and 2021 outlined a broad area of gold anomalism coincident with areas of gold in outcrop and subcrop that grades up to 8.4 g/t Au.  Rock and talus fines geochemistry both yield a strong multi-element signature of As, Ag, Cu, Bi, Te, Sb, Zn and Pb associated with Au.

Figure 1. Day Trip Zone RAB Drill Results and Section Locations

Figure 2: Day Trip Zone Aerial View to Southeast

RAB Drill Results

The purpose of the Day Trip RAB drill program was to identify location and geometry of anomalous gold sampled on surface. The RAB holes tested shallow extents of the target over a 250×200 m area. Broad anomalous gold is shallow or at surface and was intercepted in all but the most southerly pad, which failed to reach target depth. Gold anomalism in the sedimentary-hosted, western holes defines a 20 degree west-dipping layer that parallels bedding. Gold intercepts in the intrusive-hosted western holes are interpreted to dip steeply east, similar to the veins on surface. The overall vein geometry from surface coupled with the gold intercepts, projects toward a large conductive and chargeability anomaly (Figure 5).

The feeder to the sulfide breccia rubble identified on surface and the subhorizontal gold pattern near surface is interpreted to be rooted in an easterly fault zone to the south of the RAB drill area. One pad attempted to drill through this structure into the interpreted feeder (GRR-22-30, -31, 32), but was unable to cross the structure due to difficult conditions.

Hole*From (m)To (m)Interval (m)Au (g/t)
GRR-22-0114.579.144.570.52
GRR-22-0127.6216.769.140.43
GRR-22-0130.009.149.140.79
GRR-22-0140.009.149.140.56
GRR-22-0160.009.149.140.54
GRR-22-0194.5727.4322.860.22
GRR-22-02310.6715.244.572.70
Incl.10.6712.191.526.81
GRR-22-02525.9141.1515.240.50
GRR-22-0264.579.144.572.06
GRR-22-02713.7225.9112.190.48
GRR-22-0290.0022.8622.860.27
     

*True widths are not known at this time. All widths reported are drilled widths. Drill holes not listed between GRR-22-001 to GR-22-032 report no significant intercepts

Table 1. RAB Drill Hole Results

HoleEasting (m)Northing (m)Elevation (m)Depth (m)AzimuthDip
GRR-22-0013923135702390227470.1016270
GRR-22-0023923115702391227482.3024755
GRR-22-0033923115702393227556.3930055
GRR-22-0043923135702394227565.5334555
GRR-22-0053923145702394227571.632055
GRR-22-0063922965702432228036.5816255
GRR-22-0073922955702432228013.7221055
GRR-22-0083922645702379227382.301570
GRR-22-0093922625702376227241.1524755
GRR-22-0103922645702375227219.8116055
GRR-22-0113922665702377227344.209055
GRR-22-0123922645702377227219.81090
GRR-22-0133922785702407227967.06090
GRR-22-0143922785702406227845.729065
GRR-22-0153922785702407227816.7624760
GRR-22-0163922785702407227954.862060
GRR-22-0173922545702346227141.153080
GRR-22-0183922185702361227154.8624780
GRR-22-0193922185702361227157.916970
GRR-22-0203921905702458227660.9624855
GRR-22-0213921905702458227651.8224870
GRR-22-0223921405702442226636.5824865
GRR-22-0233921405702442226639.6224890
GRR-22-0243920805702424224674.686870
GRR-22-0253920805702424224464.0124865
GRR-22-0263920645702395223677.7224760
GRR-22-0273920645702395223670.1019060
GRR-22-0283921815702401226618.9224770
GRR-22-0293921815702401226622.80090
GRR-22-0303923075702283227228.966858
GRR-22-0313923075702283227236.5814160
GRR-22-0323923075702283227230.4814890


Table 2. RAB Drill Hole Locations (NAD83, Zone 10).

Figure 3. Drill Results Sections, view northerly

Induced Polarization (IP) Geophysical Survey Results

A deep penetrating Induced Polarization (IP) survey was conducted to prepare for deeper diamond drilling targeting. The survey was extended more than 1100 m west of the original survey and target area due to the discovery of high-grade gold in outcrop ~1 km from the RAB drill area. The geophysical survey identified two large conductive anomalies beneath the RAB drill area and to the west. Conductivity can be associated with sulfide breccias and veins and related alteration.  Numerous chargeability anomalies were also identified throughout the survey area. Chargeability highs can be caused by the presence of disseminated sulfides.

The highest quality geophysical targets are where both chargeability and conductivity are anomalous. The area of RAB drilling confirmed the coincidence between hydrothermal alteration, elevated sulfide abundance and anomalous gold with chargeable rocks. Two anomalies are yet to be tested where chargeability and conductivity are both anomalous: 1) at depth below the RAB drill area, and 2) at depth below the new outcrop discovery ~1 km to the west where rocks returned up to 49.8 g/t Au.

Figure 4. Long IP Section 3600 Geophysical and RAB Drill Results

Figure 5. Long IP Section 3700 Geophysical and RAB Drill Results­

Rock Sampling Results

Highly weathered sulfide rubble was located ~1km west of the area of drilling and was followed up with hand trenching that led to the discovery of an outcropping sulfide vein up to 50 cm wide and grading up to 49.8 g/t Au over 0.5 m. Sulfide mineralization includes arsenopyrite, stibnite, boulangerite, and chalcopyrite. Samples show a strong correlation with Ag, Cu, Pb, Sb, Bi, and Te. Results are shown in Table 3.

Sample NoWidth (cm)Au (g/t)Ag (g/t)Cu (%)Pb (%)Sb (%)Bi (ppm)Te (ppm)
c0135801507.0552.910.140.100.30388.8511.55
c01358023017.2978.770.060.420.3873.555.76
c01358031510.976.280.010.090.0538.831.04
c01358045049.7851.470.130.070.21547.4911.18
c01358051518.1343.240.160.240.18333.3811.46
c0135806100.1619.710.700.000.0117.491.79

Table 3: 2021 Rock Sampling Results

About RAB Drilling

Kingfisher is using RAB drills as a cost effective and efficient first pass exploration tool. The RAB is a heli-portable, track mounted drill that can drill a wide range of dips (50-90°) to depths of up to 100 meters. Rock cuttings from the drill hammer are returned to surface between the outside of the rods and the open hole. Under certain conditions, cross contamination between samples is a concern. The assay results from the RAB drill provide a strong indication of the grade and thickness of gold intercepted in a given hole. Kingfisher intends to follow up encouraging RAB assay results with a diamond drill to fully quantify the grade and thickness of these mineralized intercepts.

QAQC

Grab and chip rock samples are selective by nature and values reported in this news release may not be representative of mineralized zones. Blank and unlabeled certified reference materials (CRM) were inserted into the sample sequence every 20th sample.

RAB drill holes at the Goldrange Project are NWJ sized (2 5/8”). Samples are collected continuously from surface from each 5 ft (1.52 m) rod length. Collected sample material is put through a 1:8 riffle splitter, with the smaller portion of the sample bagged to be sent to the lab for Au Chrysos PhotonAssayTMand Au Fire Assay checks. Certified reference materials and blanks are inserted into the sample sequence every 20th sample. Duplicates were collected from every 40th sample by running the 7:8 reject material through the riffle splitter again, and collecting the 1:8 split for submission to the lab. The total number of blanks, duplicates and CRM samples equals approximately 5% of the samples submitted to the lab for analysis.

RAB and rock chip samples were shipped to MSALABS, located in Langley, British Columbia for preparation and analysis. MSALABS is an ISO17025 and ISO9001 accredited laboratory and is independent of Kingfisher Metals and its Qualified Person. Samples were prepped using the SPL430, CRU-220. Rock chip samples were then analyzed for 48 major and trace elements with ICP-MS after a four-acid digestion (method code IMS-230). Following sample preparation, a 500 g split from each sample was sent to MSALABS Val-D’Or location for Au analysis using Chrysos PhotonAssayTM (method code CPA-Au1). Selected samples were also subjected to Au fire assay and gravimetric check assays. A 30 g split from each check assay sample was analyzed for Au using a lead collection fire assay fusion that was digested and analyzed using AA (method code FAS-111). A 30g split from the check assay samples that assayed >10 ppm Au was analyzed using a lead collection fire assay fusion with a gravimetric finish (method code FAS-415).

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 103,057,272  shares outstanding.

For further information, please contact:

Dustin Perry, P.Geo.

CEO and Director

Phone: +1 778 606 2507

E-Mail: info@kingfishermetals.com   

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.

Cautionary Note Regarding Forward-Looking Statements

Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company’s property. 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: risks related to the COVID-19 pandemic; 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.

Kingfisher Intersects 2.86 g/t Au over 40 m and 58.88 g/t Au over 1 m at Cloud Drifter Trend

VANCOUVER, British Columbia, October 13, 2022 – Kingfisher Metals Corp. (TSX-V: KFR) (FSE: 970) (OTCQB: KGFMF) (“Kingfisher” or the “Company”) is pleased to announce initial drill results from the 100% owned 511 km2 Goldrange Project. Goldrange is located approximately 25 km south of the town of Tatla Lake in the Chilcotin region of Southwest British Columbia.

Highlights

  • 2.86 g/t Au over 40 m including 5.56 g/t Au over 9 m, 5.05 g/t Au over 6 m, and 19.91 g/t Au over 1 m in hole GR22-018
  • 58.88 g/t Au over 1 m in hole GR22-019, 19.54 g/t Au over 2 m in hole GR22-016, 10.39 g/t Au over 1 m in hole GR22-017, and 9.55 g/t Au over 2 m in hole GR22-020
  • Across the Cloud Drifter Trend, drilling has intersected quartz-sulfide vein and breccia at the Pad 400, West, and East Cloud Drifter target areas, as well as the Langara Zone

Dustin Perry, CEO states “Initial results from the ongoing 2022 drill program continue to show the robust nature of the gold system at Goldrange.  With 2.86 g/t Au over 40 m, drill hole 18 surpassed the 100 GT mark (grade x thickness) on only the fourth hole of the program.”  

The Goldrange Project covers a significant deformation zone with numerous precious metal veins across the project. Mineralization at Goldrange occurs within the orogenic Yalakom Gold Belt, which is host to the Bridge River District that includes the past-producing Bralorne Mine. Several areas of historical hand mining are located within the project that date back to the 1930s.

The 2022 drill program (Figure 1) at the Goldrange Project was designed to follow up on the initial 2021 program as well as test a much broader area across the Cloud Drifter Trend. Ongoing drilling is focused on testing structural corridors across the trend. The initial six drill holes of the 2022 program (Tables 1 and 2) included within this release are located within the Pad 400 Target Area. Drilling in 2021 intersected highlights from this target including 73.4 g/t Au over 1 m and 6.9 g/t Au over 9 m. Remaining drill hole results from the Cloud Drifter and Langara zones are pending.  

The Pad 400 Target Area is structurally controlled vein and breccia hosted mineralization that outcrops within an incised gulley. Where it outcrops, it grades up to 128.9 g/t Au in surface sampling.  Mineralized veins and breccia throughout the Pad 400 Target Area are hosted within strongly quartz-carbonate-sericite altered quartz diorite or within adjacent sedimentary rocks. Gold is closely associated with elevated Ag, Bi, Te, As, Sb, Cu, Zn, and Mo.

Highlight intercepts from the Pad 400 Target Area are listed in Table 1 and plotted on Figures 1-5.

­­

Figure 1: Diamond Drill Hole and Section Locations in the Pad 400 Target Area, Cloud Drifter Trend

HoleFrom (m)To (m)Interval (m)Au g/t
GR22-015no significant intercepts
GR22-0167577219.54
and11211750.55
GR22-0178283110.39
and85106210.57
and11411513.35
GR22-018434412.97
and11811912.21
and141180402.86
incl.14115095.56
incl.161162119.91
incl.17418065.05
GR22-019939523.77
and12712813.08
and132133158.88
GR22-020858729.55
­*True widths are not known at this time. All widths reported are drilled widths.
Table 1: Highlight Drill Intercepts, Pad 400 Target Area

HoleEasting (m)Northing (m)Elevation (m)Depth (m)AzimuthDip
GR22-0153885825705826150320131080
GR22-0163885825705826150314832776
GR22-0173886165705883146922724746
GR22-0183886165705883146922623545
GR22-0193884695705848147620313970
GR22-0203884695705848147620315164
Table 2: Diamond Drill Collars (NAD 83 – Zone 10)

Figure 2: Section A-A’

Figure 3: Section B-B’

Figure 4: Section C-C’

Figure 5: Section D-D’

Exploration Update

A total of 27 diamond drill holes, over 7089 m, have been completed in the Cloud Drifter Trend. In addition to the six drill holes included in this release, an additional two drill holes were completed at the Pad 400 Target Area bringing that total to 1626 m. Drilling at the Western Target Area included 5 holes over 1884 meters and drilling at the Eastern Target Area included ten holes over 1986 meters. Drilling is currently ongoing at the Pad 400 Target Area. Four drill holes at the Langara Zone have been completed over 1594 m.

Rotary Air Blast (RAB) drill results from the Langara and Day Trip zones are pending. Deep penetrating induced polarization (IP) geophysical surveys were completed at the Eastern Target Area at the Cloud Drifter Zone as well as at the Day Trip Zone. These surveys expand both the lateral and depth extents from previous survey coverage. Geophysical and RAB drill results will be released once final data is received.

Quality Assurance/Quality Control (QAQC)

All drillholes in this release are NQ sized (47.6 mm diameter). A continuous series of one-metre-long half-split core samples was taken down the entire length of each drill hole. Sample lengths were reduced to a minimum of half a meter to avoid crossing lithologic contacts or other features deemed important by Kingfisher geologists.

Unlabelled certified reference materials (CRM) were inserted systematically throughout the sample sequence along with blanks and duplicate samples. In addition to the systematic insertion of duplicates, duplicates were also collected from conspicuously mineralized samples. Half-split core samples for duplicates were further split into quarter core samples before submission for analysis. Upon receipt of duplicate analyses, the results from each of the quarter cores were averaged before integration into the assay database. The total number of blanks, duplicates and CRM samples equals approximately 5% of the total samples taken.

Core samples were shipped to MSALABS, located in Langley, British Columbia for preparation and analysis. MSALABS is an ISO17025 and ISO9001 accredited laboratory and is independent of Kingfisher Metals and its Qualified Person. Samples were prepped using the SPL430, CRU-220 and analyzed for 48 major and trace elements with ICP-MS after a four-acid digestion (method code IMS-230). Following sample preparation, a 500 g split from each sample was sent to MSALABS Val-D’Or location for Au analysis using Chrysos PhotonAssayTM (method code CPA-Au1). Selected samples were also subjected to Au fire assay and gravimetric check assays. A 30 g split from each check assay sample was analyzed for Au using a lead collection fire assay fusion that was digested and analyzed using AA (method code FAS-111). A 30g split from the check assay samples that assayed >10 ppm Au was analyzed using a lead collection fire assay fusion with a gravimetric finish (method code FAS-415).

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 103,057,272 shares outstanding.

For further information, please contact:

Dustin Perry, P.Geo.
CEO and Director
Phone: +1 778 606 2507
E-Mail: info@kingfishermetals.com   

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.

Cautionary Note Regarding Forward-Looking Statements

Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company’s property. 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: risks related to the COVID-19 pandemic; 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.

Kingfisher Drills Broad Intervals of Near Surface Intrusive Hosted Mineralization at Cloud Drifter

VANCOUVER, British Columbia, August 17, 2022 – Kingfisher Metals Corp. (TSX-V: KFR) (FSE: 970) (OTCQB: KGFMF) (“Kingfisher” or the “Company”) is pleased to announce updates on diamond drilling at the 100% owned 511 km2 Goldrange Project. Goldrange is located approximately 25 km south of the town of Tatla Lake in the Chilcotin region of Southwest British Columbia.

Highlights

  • 11 diamond drill holes (2427 m) have been completed at the Cloud Drifter Zone so far this season.
  • Intervals of vein, breccia, and disseminated sulfide mineralization intercepted in all drill holes over ~850 m east-west extent.
  • Drilling at the Eastern Target Area intersected up to ~35 m of strongly altered and mineralized quartz diorite below an outcrop that grades up to 9.7 g/t Au.
  • Drilling at the Pad 400 Target Area intersected multiple areas of strongly altered quartz diorite with breccia and vein hosted mineralization.
  • At the Western Target Area, drilling intercepted structurally controlled quartz-sulfide veins, breccias, and disseminated sulfide mineralization beneath the highest multi-element soil geochemical anomaly in the Cloud Drifter Zone.

Dustin Perry, CEO states “Drilling at the Cloud Drifter Zone is off to a great start with zones of mineralization in all drill holes to date which significantly expands the footprint of the mineralized system.  We continue to see a wide variety of mineralization styles across a broad area proving the robust nature of this gold system. The drill will be moving back to the Eastern Target Area shortly where we will begin drilling step out holes from the promising mineralization in GR22-022.  We anticipate that our upcoming diamond drill assays will guide follow-up drilling of these target areas.”

The Goldrange Project covers a significant deformation zone with numerous precious metal veins across the project.  Mineralization at Goldrange occurs within the orogenic Yalakom Gold Belt, which is host to the Bridge River District that includes the past producing Bralorne Mine. Several areas of historical hand mining are located within the project and date back to the 1930s.

Diamond Drilling Update

Diamond drilling at the Cloud Drifter Zone has been completed over 11 holes totalling 2427 m (Table 1).  Figure 1 outlines the drilling progress to date. Drilling has been completed over three areas referred to as the Eastern, Western, and Pad 400 Target Areas.  GR22-015 to GR22-20 were completed at the Pad 400 Target, GR22-21 and GR22-22 were completed at the Eastern Target, and GR22-23 to GR22-25 have been completed at the Western Target.  Drilling is ongoing at the Western Target and once completed it will move to the Eastern Target for additional follow-up drilling.  Summaries of visual drill results at each target area are described below.

HoleEasting (m)Northing (m)Elevation (m)Depth (m)AzimuthDip
GR22-0153885825705826150320131080
GR22-0163885825705826150314832776
GR22-0173886165705883146922724746
GR22-0183886165705883146922623545
GR22-0193884695705848147620313970
GR22-0203884695705848147620315164
GR22-0213889535705970145020013155
GR22-0223889455705922147814532256
GR22-0233881855705655157225235355
GR22-0243882575705646158328533353
GR22-0253882575705646158334833375
Table 1: Diamond Drill Collars (NAD 83 – Zone 10)
Figure 1: Diamond Drill Hole Locations within the Cloud Drifter Zone

­Eastern Target Area

The first two drill holes (GR22-021 and GR22-022) in the Eastern Target Area confirmed the presence and continuity of a disseminated sulfide and stockwork style of veins not yet identified in drilling. Mineralization styles in drilling includes disseminated, breccia, and vein-hosted chalcopyrite, pyrite, and arsenopyrite. Stockwork and disseminated mineralization styles in surface rocks in this area grade up to 9.7 g/t Au and coincide with strong multi-element (Au, Ag, As, Cu, Bi, Te, Sb, Zn, Mo, W) anomalism in soil geochemistry.

At the Eastern Target Area, mapping and rock sampling of limited rock exposures in forest cover indicate the presence of both a high sulfide and a high vein density domain with a homogeneous mineralization style. Based on the homogeneous textures and consistent vein densities, there is potential for continuity of grade laterally between outcrops and vertically at depth. 

GR22-021 collared downslope of an outcrop that grades up to 6.8 g/t Au and drilled to the southeast.   Drilling encountered mineralized quartz diorite from surface to 21 m and another interval of stronger quartz diorite hosted mineralization from 51 m to 65 m (Figure 2).  The Company believes that the drill hole did not intersect the full thickness of this body and future drilling will test the full thickness body by drilling north from upslope. Further drilling will aim to outline the orientation of the intrusion that is host to mineralization.

Figure 2: GR22-021 Quartz-Diorite Hosted Mineralized Interval

High resolution image available here: Figure 2

GR22-022 collared upslope of an outcrop that grades up to 9.7 g/t Au and is located ~60 m west of the outcrop that GR22-021 targeted.  Intervals of dense veins in quartz diorite were intercepted from 26.0 m to 65.8 m (Figure 3), 88 m to 95 m, and 112 m to 120 m. 

Figure 3: GR22-022 Quartz-Diorite Hosted Mineralized Interval (PY = Pyrite, AP = Arsenopyrite, CP = Chalcopyrite)

High resolution image available here: Figure 3

Pad 400 Target Area

Diamond drilling at the Pad 400 Target Area follows up on vein and breccia hosted mineralization from the 2021 drill program.  Highlights from this area in 2021 include 73.4 g/t Au over 1 m from pyrite-ankerite veins and 6.88 g/t Au over 9 m from sulfide cement breccia.  This year’s drilling is testing the lateral and down-dip continuity of high-grade gold along an easterly structural trend that dips moderately south.  Drill holes into this trend confirmed the location and presence of high-density quartz-sulfide veins parallel to the modelled structures. This important easterly structural trend in the lower Cloud Drifter Zone correlates with multiple high-grade Au intercepts in 2021 drill holes. The structural expression is more than 25 m true thickness, which also coincides with a coincident chargeability-conductivity geophysical anomaly.

Drilling in this area returned broad intercepts of altered and dense veins in quartz diorite in all drill holes (GR22-015 to GR22-020) including GR22-018 which intercepted altered and mineralized quartz diorite from 61.80 m to 174.20 m (Figure 4).  An additional drill pad is built in the Pad 400 Target Area and drill holes will be oriented in a westerly direction from that pad. 

Figure 4: GR22-018 Quartz-Diorite Hosted Mineralized Interval (PY = Pyrite, AP = Arsenopyrite, CP = Chalcopyrite)

High resolution image available here: Figure 4

Western Target Area

Initial holes at the Western Target Area intercepted structurally controlled quartz-sulfide veins, breccias, and disseminated sulfide mineralization beneath the highest multi-element soil geochemical anomaly (Au, Ag, Cu, Zn, Pb, Sb, Bi, Te, W) in the Cloud Drifter Zone. The source of a coincident conductivity and chargeability anomaly was determined to be due to the presence of hydrothermal sulfide mineralization. Structural and geochemical exploration trends were intercepted at anticipated depths with drilling and are coincident with elevated sulfide mineralization.

Altered quartz diorite was identified in GR22-023 to GR22-025 and is similar in appearance to the Pad 400 Target Area as well as at the Eastern Target Area.  This gives the intrusive hosted target over 800 m of strike length, open in multiple directions.  Additional styles of mineralization are illustrated in Figure 5.  A feldspar porphyry containing disseminated molybdenite and chalcopyrite was intercepted in GR22-023 and points towards a potential higher temperature heat source for the mineralizing system. 

Figure 5: Western Target Area Mineralization Styles (MO = Molybdenite, PY = Pyrite, AP = Arsenopyrite, PO = Pyrrhotite)

High resolution image available here: Figure 5

Future Steps

Diamond drilling is underway at the Western Target Area gossan pad where it is drilling northeast underneath the large gossan and geochemical anomaly after which it will test to the northwest under the Argo showing. 

Once completed, the drill will move to the Eastern Target Area where it will continue to test the promising intrusive hosted mineralization intersected in GR22-021 and GR22-022.  Future drilling will be completed from the same pad as GR22-022 and then step out drilling will occur to the east and west.

Additional IP surveying is underway at the Eastern Target Area and Day Trip Zones to test for deeper feeder structures that will inform targeting at both areas for diamond drill testing later this season.    

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 103,007,272 shares outstanding.

For further information, please contact:

Dustin Perry, P.Geo.

CEO and Director

Phone: +1 778 606 2507

E-Mail: info@kingfishermetals.com   

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.

Cautionary Note Regarding Forward-Looking Statements

Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company’s property. 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: risks related to the COVID-19 pandemic; 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.

Kingfisher’s RAB Drilling Program at Langara Zone Returns Highly Anomalous pXRF Results

VANCOUVER, British Columbia, August 8, 2022 – Kingfisher Metals Corp. (TSX-V: KFR) (FSE: 970) (OTCQB: KGFMF) (“Kingfisher” or the “Company”) is pleased to announce updates on rotary air blast (“RAB”) drilling at the 100% owned 511 km2 Goldrange Project. Goldrange is located approximately 25 km south of the town of Tatla Lake in the Chilcotin region of Southwest British Columbia.

Highlights

  • Six RAB drill holes (399.28 m) have been completed at the Langara Zone, located in the eastern Cloud Drifter Trend.
  • Portable X-Ray Fluorescence (“pXRF”) analysis has delineated multi-element anomalism in all holes drilled from one pad to target a historical adit.
  • Visual chip logs identified sulfide minerals and quartz veins typical of gold mineralization style observed on surface in all drill holes to date.
  • GRR22-033 intercepted the historical Langara adit (1930s) at 9.14 m and visual chip logs identified geology typical of rocks from adit dump pile.  
  • Samples have been submitted for gold analysis at MSALABS’ Chrysos PhotonAssayTM for analysis and check fire assays with initial results expected in the coming weeks.

Dustin Perry, CEO, states “This first shallow drill test of the Langara Zone was successful at locating the historical adit that was obscured by talus cover. Additionally, drilling encountered highly anomalous pathfinder mineralization in areas of limited outcrop due to talus cover. Logging of RAB cuttings shows widespread quartz veins with associated sulfide minerals that is comparable to the high-grade Au-Ag veins at surface. Now that we have a better 3D understanding of this target, we can diamond drill this season. The diamond rig will test a much broader area of mineralization as well as potential feeder mineralization to these areas of surficial anomalism.”

Overview

Kingfisher commenced the first-ever drill program at the Langara Zone (Figures 1 and 2) with a RAB drill rig in July 2022. The initial six holes (Table 1) were drilled from a single pad located adjacent to a historical adit from the 1930s. Drilling was completed to test the geometry of near surface mineralization including the talus obscured adit. The historical working is centered on an interference zone between northwest and east trending veins. 

Figure 1. Langara Zone and RAB Drill Collars

Figure 2: Langara Zone Aerial View to East

HoleEasting (m)Northing (m)Elevation (m)Depth (m)AzimuthDip
GRR22-033390144570544517679.1424055
GRR22-0343901445705445176789.9224065
GRR22-0353901445705445176788.3919757
GRR22-0363901465705447176777.725560
GRR22-0373901465705447176771.633060
GRR22-0383901455705447176762.4833060
Table 1. RAB Drill Hole Locations (NAD83, Zone 10)

RAB Drill Results

Drill cuttings were analyzed using an Olympus Vanta Handheld XRF (C Series) (pXRF) instrument for multiple elements. All RAB holes intercepted anomalous intervals of pathfinder elements (Figure 3, Table 2) consistent with Au-related pathfinder enrichments observed in surface geochemical samples previously collected at the Langara Zone.

Figure 3. Plan View of Langara Zone pXRF Results of RAB drilling

HoleFrom (m)To (m)Interval (m)As ppmCu ppmPb ppmZn ppm
GRR22-0330.009.149.14150751453222165
GRR22-0340.0053.3453.3446917520151
incl0.0025.9125.91114836146309
and71.6389.9218.2916957375
GRR22-0350.0045.7245.7272116429189
incl0.0012.1912.193529504109661
GRR22-0360.0056.3956.3953728220479
incl15.2433.5318.291998101324145
GRR22-0371.5212.1910.67269100315662
and18.2956.3938.1022316314105
GRR22-0380.0013.7213.72421221551083
and35.0544.209.141379310115
and44.2062.4818.2913476421914
incl48.7759.4410.672371248051724
Table 2. Highlight Table of XRF Results

*True widths are not known at this time, all widths reported are drilled widths. Highlight intervals are selected based on >100 ppm As. Anomalous intervals with less than 5 m lengths are omitted from table, bold rows contain pathfinders > 1000 ppm.

Langara Adit Target Area

The Langara Adit and surrounding quartz-hosted mineralization is defined by surface grades up to 60.4 g/t Au and 1500 g/t Ag from grab samples. Dump samples from the Langara Adit grade up to 14.4 g/t Au and are associated with arsenopyrite (As), chalcopyrite (Cu), sphalerite (Zn), boulangerite (Pb, Sb), and Bi- and Te-bearing minerals. 

The sulfide minerals identified in RAB holes (Figure 4) are comparable to gold-bearing rocks observed at surface. Hole GRR22-033 intercepted quartz and sulfide vein material from surface to 9.14 m, where the historical adit was intersected. 

The precise location of historical mining obtained from hole GRR22-033 provides the key data required to plan for diamond drilling. A diamond drill pad will be built near the top of the slope at the Langara Zone (Figure 2) within the coming weeks. Drilling from this pad will test the depth potential of the Langara adit ore shoot.

Figure 4. Photos of RAB Chips of Adit Target Area

pXRF Sampling and Analytical Protocol

RAB drill holes at the Goldrange Project are NWJ sized (2 5/8”). Samples are collected continuously from surface from each 5 ft (1.52 m) rod length. Collected sample material is put through a 1:8 riffle splitter, with the smaller portion of the sample bagged to be sent to the lab for Au Chrysos PhotonAssayTMand Au Fire Assay checks. From the riffle splitter reject ~500 grams of material are collected for pXRF analysis. The pXRF samples are returned to camp where they are dried prior to analysis. Once dry 15 ml of it is packed in a plastic XRF sample cup lined with prolene thin film. Care is taken to ensure that no material larger than 2 mm in diameter is packed into the sample cup. Once the sample cups have been packed, they are analyzed with an Olympus Vanta Handheld pXRF (C Series). Each sample is analyzed twice, adjusting the position of the sample on the pXRF detector between analyses. The two analyses are averaged to give a final result. Between each sample, the pXRF workstation is cleaned with pressurized air and paper towel. Certified reference materials and blanks are inserted into the sample sequence every 20th sample.

About RAB Drilling

Kingfisher is using RAB drills as a cost effective and efficient first pass exploration tool. The RAB is a heli-portable, track mounted drill that can drill a wide range of dips (50-90°) to depths of up to 100 m. Rock cuttings from the drill hammer are returned to surface between the outside of the rods and the open hole. Under certain conditions, cross contamination between samples is a concern. The assay results from the RAB drill provide a strong indication of the grade and thickness of gold intercepted in a given hole. Kingfisher intends to follow up encouraging RAB assay results with a diamond drill to fully quantify the grade and thickness of these mineralized intercepts.

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.

Investor Relations

Kingfisher also announces that it has entered into an agreement with Adelaide Capital Markets Inc. (“Adelaide”) dated August 1, 2022, for various investor relations services at an aggregate cost of C$8,000 per month, payable monthly. The services will commence on August 15, 2022 and will continue for a period of six (6) months. Adelaide is an arm’s length consultant and was previously granted 50,000 stock options of the Company that are subject to deferred vesting over one year. To the knowledge of the Company, both Adelaide and Deborah Honig, President of Adelaide, own shares of Kingfisher. Neither the Company nor any of its directors, officers or employees have any interest, directly or indirectly, in Adelaide, or their securities, or any right or intent to acquire such an interest. Adelaide manages a marketing team headquartered in Toronto, Ontario, and has been successfully providing services for a broad range of companies listed on the TSX Venture Exchange. 

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 103,007,272 shares outstanding.

For further information, please contact:

Dustin Perry, P.Geo.
CEO and Director
Phone: +1 778 606 2507
E-Mail: info@kingfishermetals.com   

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.

Cautionary Note Regarding Forward-Looking Statements

Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company’s property. 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: risks related to the COVID-19 pandemic; 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.

Kingfisher Reports Highly Anomalous pXRF Results from RAB Drilling at Day Trip Zone, Goldrange Project

VANCOUVER, British Columbia, July 12, 2022 – Kingfisher Metals Corp. (TSX-V: KFR) (FSE: 970) (OTCQB: KGFMF) (“Kingfisher” or the “Company”) is pleased to announce updates on rotary air blast (RAB) drilling at the 100% owned 511 km2 Goldrange Project. Goldrange is located approximately 25 km south of the town of Tatla Lake in the Chilcotin region of Southwest British Columbia.

Highlights

  • 27 RAB drill holes (1417.32 m) have been completed at the Day Trip Zone, located 5 km SE of the Cloud Drifter Trend.
  • Portable X-Ray Fluorescence (pXRF) analysis has delineated multi-element anomalism related to a significant hydrothermal system.
  • Visual chip logs identified sulfide minerals and quartz veins typical of the gold mineralization style observed on surface in all drill holes to date.
  • Geochemical and geological observations from drill cuttings outline a ~275 m x 120 m prospective footprint open laterally and at depth.
  • Samples have been submitted for gold analysis at MSALABS’ Chrysos PhotonAssayTM for analysis and check fire assays with initial results expected in the coming weeks.

Dustin Perry, CEO states “RAB drilling coupled with pXRF analysis at Day Trip has efficiently outlined an open-ended hydrothermal footprint typical of gold mineralization on surface.  Results to date indicate that the system may be considerably larger than what we had initially interpreted.  The Company will update the market on developments from the gold assay results in due course.” 

Overview

Kingfisher commenced the first-ever drill program at the Day Trip Zone with a rotary air blast (RAB) drill rig in May 2022. The initial 27 holes (Table 1) focused on a ~275 m by 120 m area at shallow depths of less than 82 m.

The Day Trip Zone covers a rounded mountain top approximately 5 km southeast of the Cloud Drifter Trend (Figures 1 and 2).  The target is situated between two interpreted fault splays off the regional Ottarasko Fault.  High-density intrusive-hosted veins, up to 2 m in width, occur over an area ~100 m by 400 m.  Quartz veins from this area returned grades from below detection limit to 6.7 g/t Au over 2 m.  Adjacent to the intrusion is a ~70 m x 90 m area of arsenopyrite-cement breccia in subcrop (Figure 1).  Approximately 20% of the subcrop material in this area consists of arsenopyrite-cement breccia and rocks grade from 3.4 to 20.1 g/t Au.  Talus fines sampling in 2020 and 2021 outlined a broad area of gold anomalism coincident with areas of gold in outcrop and subcrop that grades up to 8.4 g/t Au.  Rock and talus fines geochemistry both yield a strong multi-element signature of As, Ag, Cu, Bi, Te, Sb, Zn and Pb associated with Au.

Figure 1. Day Trip Zone and RAB Drill Collars

Figure 2: Day Trip Zone Aerial View to East

HoleEasting (m)Northing (m)Elevation (m)Depth (m)AzimuthDip
GRR22-0013923135702390227470.1016270
GRR22-0023923115702391227482.3024755
GRR22-0033923115702393227556.3930055
GRR22-0043923135702394227565.5334555
GRR22-0053923145702394227571.6302055
GRR22-0063922965702432228036.5816255
GRR22-0073922955702432228013.7221055
GRR22-0083922645702379227382.3001570
GRR22-0093922625702376227241.1524755
GRR22-0103922645702375227219.8116055
GRR22-0113922665702377227344.2009055
GRR22-0123922645702377227219.8100090
GRR22-0133922785702407227967.0600090
GRR22-0143922785702406227845.7209065
GRR22-0153922785702407227816.7624760
GRR22-0163922785702407227954.8602060
GRR22-0173922545702346227141.1503080
GRR22-0183922185702361227154.8624780
GRR22-0193922185702361227157.9106970
GRR22-0203921905702458227660.9624855
GRR22-0213921905702458227651.8224870
GRR22-0223921405702442226636.5824865
GRR22-0233921405702442226639.6224890
GRR22-0243920805702424224674.6806870
GRR22-0253920805702424224464.0124865
GRR22-0263920645702395223677.7224760
GRR22-0273920645702395223670.1019060
Table 1. RAB Drill Hole Locations (NAD83, Zone 10)

RAB Drill Results

Drill cuttings were analyzed using an Olympus Vanta Handheld XRF (C Series) (pXRF) instrument for multiple elements. All RAB holes intercepted anomalous intervals of pathfinder elements (Figure 3, Table 2) consistent with Au-related pathfinder enrichments observed in surface geochemical samples previously collected at the Day Trip Zone.

Figure 3. Day Trip Zone pXRF Results of RAB drilling

HoleFrom (m)To (m)Interval (m)As ppmCu ppmZn ppm
GRR22-0010.009.149.14234122152
and30.4836.586.10272145443
GRR22-0020.0015.2415.24938222230
and32.0039.627.6212074101
GRR22-0030.007.627.62565111272
and25.9135.059.1436113497
GRR22-0040.006.106.10108108218
GRR22-0050.006.106.101498187
GRR22-0060.0018.2918.291395137396
GRR22-0070.0012.1912.192153118461
GRR22-0080.0024.3824.383407206183
GRR22-0090.0041.1541.15579143104
GRR22-0100.0016.7616.763762350231
GRR22-0110.0044.2044.20854236226
GRR22-0120.0019.8119.812606293160
GRR22-0130.0012.1912.1911693375202
GRR22-0140.0016.7616.768579373404
GRR22-0150.0013.7213.724804271253
GRR22-0160.0018.2918.293418165188
GRR22-0176.1032.0025.9119911978
GRR22-0186.1048.7742.671086135165
GRR22-0193.0530.4827.432580184172
GRR22-0200.0016.7616.76152112118
GRR22-0220.0022.8622.861196211215
GRR22-0230.0015.2415.24562234185
GRR22-02536.5862.4825.9024719675
GRR22-0260.009.149.1424819575
GRR22-0270.006.106.1034620191
Table 2. Highlight Table of XRF Results

*True widths are not known at this time, all widths reported are drilled widths. Highlight intervals are selected based on >100 ppm As. Anomalous intervals with less than 5 m lengths are omitted from table, bold rows contain As > 1000 ppm

Breccia Target Area

The breccia target area consists of mafic to intermediate volcaniclastic siltstone and sandstone that is host to a quartz-sulfide breccia. The breccia is associated with arsenopyrite and subordinated pyrite, pyrrhotite, and chalcopyrite. Drilling intercepted hydrothermal quartz and sulfide in all holes in the target area (Figure 4) that are enriched in As, Cu, Zn, Pb, Sb and Bi as defined by pXRF.

Figure 4. Photos of RAB Chips of Breccia Target Area

Intrusive Target Area

The intrusive target area is host to a quartz diorite intrusion that cuts sandstone. In contrast to the breccia target area, hydrothermal material at the intrusive target area is quartz dominated, and relatively sulfide poor (Figures 5 and 6). Intervals with hydrothermal material are associated with similar enrichments in Cu and Pb as the breccia target, whereas As, Bi, Sb, and Zn enrichments are more muted.

Figure 5. Photos of RAB Chips of Intrusive Target Area

Figure 6: Low-Sulfide Quartz Vein Breccia with Pathfinders

­­

pXRF Sampling and Analytical Protocol

RAB drill holes at the Goldrange Project are NWJ sized (2 5/8”). Samples are collected continuously from surface from each 5 ft (1.52 m) rod length. Collected sample material is put through a 1:8 riffle splitter, with the smaller portion of the sample bagged to be sent to the lab for Au Chrysos PhotonAssayTMand Au Fire Assay checks. From the riffle splitter reject ~500 grams of material are collected for pXRF analysis. The pXRF samples are returned to camp where they are dried prior to analysis. Once dry 15 ml of it is packed in a plastic XRF sample cup lined with prolene thin film. Care is taken to ensure that no material larger than 2 mm in diameter is packed into the sample cup. Once the sample cups have been packed, they are analyzed with an Olympus Vanta Handheld pXRF (C Series). Each sample is analyzed twice, adjusting the position of the sample on the pXRF detector between analyses. The two analyses are averaged to give a final result. Between each sample, the pXRF workstation is cleaned with pressurized air and paper towel. Certified reference materials and blanks are inserted into the sample sequence every 20th sample.

About RAB Drilling

Kingfisher is using rotary air blast (RAB) drills as a cost effective and efficient first pass exploration tool. The RAB is a heli-portable, track mounted drill that can drill a wide range of dips (50-90°) to depths of up to 100 meters. Rock cuttings from the drill hammer are returned to surface between the outside of the rods and the open hole. Under certain conditions, cross contamination between samples is a concern. The assay results from the RAB drill provide a strong indication of the grade and thickness of gold intercepted in a given hole. Kingfisher intends to follow up encouraging RAB assay results with a diamond drill to fully quantify the grade and thickness of these mineralized intercepts.

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 103,007,272  shares outstanding.

For further information, please contact:

Dustin Perry, P.Geo.
CEO and Director
Phone: +1 778 606 2507
E-Mail: info@kingfishermetals.com   

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.

Cautionary Note Regarding Forward-Looking Statements

Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company’s property. 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: risks related to the COVID-19 pandemic; 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.

Kingfisher Commences Diamond Drilling Program at Goldrange Project

VANCOUVER, British Columbia, June 14, 2022 – Kingfisher Metals Corp. (TSX-V: KFR) (FSE: 970) (OTCQB: KGFMF) (“Kingfisher” or the “Company”) is pleased to announce the commencement of diamond drilling at the 100% owned 511 km2 Goldrange Project. Goldrange is located approximately 25 km south of the town of Tatla Lake in the Chilcotin region of Southwest British Columbia.

Highlights

  • An expanded and fully funded program of up to 10,000 m of diamond drilling.
  • Step out drilling of near-surface breccia targets in the Cloud Drifter Zone that graded up to 73.4 g/t Au over 1 m and 6.9 g/t Au over 9 m in the Pad 400 target area.
  • First-ever drilling of robust multi-element geochemical anomalies at the Cloud Drifter Zone on exploration trend with high-grade Au intercepts from 2021.
  • Day Trip, Langara, and Standard zones will see first-ever diamond drill holes contingent upon positive RAB drill results.

Dustin Perry, CEO states “Our second drill program will begin at the Cloud Drifter Zone and see shallow target follow-up drilling as well as the very first drill tests of two exciting gold targets within the zone. Drill results from last year identified high-grade gold along these easterly and north-easterly exploration trends in the lower (northern) mountain. This year, our drill targeting will focus on delineating feeder structures in the lower mountain responsible for widespread gold anomalism intercepted in the upper (southern) Cloud Drifter drill holes.  Additionally, we are allocating about a third of our program to follow up on results at Day Trip, Langara, and Standard zones from our ongoing RAB drill program.”

Figure 1. Diamond Drilling Target Areas

Overview

Last year Kingfisher drill tested approximately 10% of the Cloud Drifter Trend in the first-ever drill program on the 511 km2 project. The 2021 drill results indicated the presence of a large hydrothermal system with broad gold anomalism throughout and multiple high-grade intervals discovered by drilling in areas of forest cover.

Geological interpretations identify four target types at Cloud Drifter: 1) high-grade gold in steep shears, such as 73.40 g/t Au over 1 m in hole GR22-014; 2) complex structural zones and associated high-grade feeder breccia bodies, such as 6.88 g/t over 9 m in hole GR22-007; 3) quartz diorite hosted homogenous (disseminated and stockwork) mineralization styles that are yet to be tested with drilling; and 4) broad gold anomalism along subhorizontal lithological boundaries, such as 16 m of 0.60 g/t Au in GR22-004.

The 2022 drill strategy at Cloud Drifter is two-part: with both step out holes and new exploration holes planned. Step out drill holes will follow-up on high-grade intervals (e.g., 6.88 g/t Au in hole GR22-007 and 73.40 g/t Au in hole GR22-014; Figure 2). Structural interpretations indicate a common structural trend along these two intercepts that also coincides with a surface sample of 128.9 g/t Au.

Pad 400 Target Area

An important structural trend in the lower Cloud Drifter Zone correlates with multiple high-grade Au intercepts in 2021 drill holes. The structure strikes easterly and dips moderately south (Figure 2). The structural expression is more than 25 m true thickness, which also coincides with a coincident chargeability-conductivity geophysical anomaly. The high-grade Au intercepted along the structure (see Figure 2) is separated by 100 m and 60 m of true distance along the structure, and the there are no holes which test the deeper extents. Drilling in this area will test the potential for lateral and down-dip continuity of high-grade gold along the structure.

Figure 2. Pad 400 Target Area

Figure 3. Mineralization Style Pad 400 Target Area

Eastern Target Area

Initial exploration holes outboard of the Pad 400 Target Area will target previously untested geochemical, and geophysical anomalies located up to 450 m east (Figure 4) and 650 m west (Figure 6) from 2021 drill collars. At the Eastern Target Area (Figure 4), mapping and rock sampling of limited rock exposures in forest cover indicate the presence of both a high sulfide and a high vein density domain with homogeneous mineralization textures (Figure 5). Stockwork and disseminated mineralization styles in rocks in this area grade up to 9.7 g/t Au and coincide with strong multi-element (Au, Ag, As, Cu, Bi, Te, Sb, Zn, Mo, W) anomalism in soil geochemistry. Based on the homogeneous textures and consistent vein densities, there is potential for continuity of grade laterally between outcrops and vertically at depth.  

Figure 4. Eastern Target Area

Figure 5. Homogeneous Mineralization Style in Eastern Target Area

Western Target Area

Planned holes at the Western Target Area (Figure 6) will target the highest multi-element soil geochemical anomaly (Au, Ag, Cu, Zn, Pb, Sb, Bi, Te, W) in the Cloud Drifter Zone coupled with a coincident conductivity and chargeability anomaly. Geological mapping in 2020 identified an Fe-oxide alteration body uphill of this soil anomaly (Figure 6). This alteration domain hosts abundant Fe-oxide veins (Figure 7) interpreted to reflect the reaction of sulfide minerals with meteoric water and air. One of the samples with the least Fe-oxide and most primary sulfide graded 21.4 g/t Au. The Western Target Area has seen little exploration to date due to the steep nature of the terrain, yet it is large in scale and exploration potential.  It will be initially tested with relative long drill holes to transect the broad Fe-oxide alteration on the slope.

Figure 6. Western Target Area

Figure 7. Western Target Area Fe-oxide Alteration

Options Grant

The Company also announces the grant of 2,000,000 stock options exercisable for a period of five years at a price of C$0.30 per share to various directors, officers, and employees.  The options will be subject to deferred vesting over one year and is part of Kingfisher’s ongoing strategy of granting stock options to attract and retain talent.

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 103,007,272 shares outstanding.

For further information, please contact:

Dustin Perry, P.Geo.
CEO and Director
Phone: +1-778-606-2507
E-Mail: info@kingfishermetals.com   

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.

Cautionary Note Regarding Forward-Looking Statements

Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company’s property. 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: risks related to the COVID-19 pandemic; 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.

Kingfisher Announces Closing of Upsized Private Placement Financing

VANCOUVER, British Columbia – June 7, 2022 – Kingfisher Metals Corp. (TSX-V: KFR) (FSE: 970) (OTCQB: KGFMF) (“Kingfisher” or the “Company”) is pleased to announce that, further to the Company’s news releases dated April 27, 2022 and May 26, 2022, it has closed its upsized private placement financing (the “Offering”) for gross proceeds of approximately C$4.85 million through the issuance of 15,250,000 charity flow-through units at a price of C$0.28 per charity flow-through unit and 2,433,972 flow-through units at a price of C$0.24 per flow-through unit of the Company (collectively, the “Offered Units”).

Each Offered Unit is comprised of one common share of the Company (each, a “Common Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”), with each Warrant being exercisable for one Common Share at an exercise price of C$0.35 per Common Share at any time up to 24 months following the closing date of the Offering.

The aggregate gross proceeds raised from the Offering will be used before 2024 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.

Dustin Perry, CEO of Kingfisher, commented: “We are very pleased with the result of this oversubscribed non-brokered financing. Kingfisher is well positioned financially and operationally as we embark on our 2022 discovery-focused drilling program at our 100% owned Goldrange Project in Southwest British Columbia.

In connection with the Offering, commissions on the sale of the Offered Units were paid to eligible finders (the “Finders”) in accordance with the policies of the TSX Venture Exchange and applicable securities law.  The Company paid an aggregate of C$69,500 in cash commissions and issued 327,083 finder warrants (the “Finder Warrants”) to the Finders.  Each Finder Warrant entitles the holder thereof to acquire one Common Share at a price of C$0.35 at any time prior up to 24 months following the closing date of the Offering.

All securities issued pursuant to the Offering, including Common Shares issuable upon the exercise of Warrants or Finder Warrants, are and will be subject to a hold period of four months and one day after the date of closing of the Offering.

Dustin Perry, CEO of Kingfisher, participated in the Offering and purchased 20,800 Offered Units, for an aggregate subscription of C$4,992.00. Alejandro Emiliano Gubbins Cox also participated in the Offering and purchased 4,000,000 Offered Units, for an aggregate subscription of C$1,120,000.00. Participation by Messrs. Perry and Gubbins Cox in the Offering constituted a “related party transaction” for the Company within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). MI 61-101 provides exemptions from the requirements to obtain a formal valuation and minority shareholder approval in connection with the participation by Messrs. Perry and Gubbins Cox in the Offering, and the Company has relied on the exemptions available in sections 5.5(a) and 5.7(1)(a) of MI 61-101.

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 103,007,272 shares outstanding.

For further information, please contact:

Dustin Perry, P.Geo.
CEO and Director
Phone: +1-778-606-2507
E-Mail: info@kingfishermetals.com    

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.

Cautionary Note Regarding Forward-Looking Statements

This news release contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.

Forward-looking statements in this news release include, among others, statements that are not historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: the Company may require additional financing from time to time in order to continue its operations which may not be available when needed or on acceptable terms and conditions acceptable; compliance with extensive government regulation; domestic and foreign laws and regulations could adversely affect the Company’s business and results of operations; the stock markets have experienced volatility that often has been unrelated to the performance of companies and these fluctuations may adversely affect the price of the Company’s securities, regardless of its operating performance; and the impact of COVID-19.

The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

Kingfisher Commences RAB Drilling Program at Goldrange Project

VANCOUVER, British Columbia, May 30, 2022 – Kingfisher Metals Corp. (TSX-V: KFR) (FSE: 970) (OTCQB: KGFMF) (“Kingfisher” or the “Company”) is pleased to announce the commencement of rotary air blast (RAB) drilling at the 100% owned 511 km2 Goldrange Project. Goldrange is located approximately 25 km south of the town of Tatla Lake in the Chilcotin region of Southwest British Columbia.

Highlights

  • The Company plans for a 35-day rotary air blast (RAB) drill program to test the Day Trip, Langara, and Standard zones. Production with the RAB drill averages one hole per day with a depth capability of up to 100 m.
  • Proposed RAB holes at the Day Trip Zone will test several targets where highly anomalous geochemistry (up to 20.1 g/t Au in subcrop and up to 8.3 g/t Au in talus fines) coincides with very high IP chargeability (up to 97 mV/V) and conductivity.
  • At the Langara Zone, planned holes will target below a historical adit and sheeted quartz-sulfide veins mapped on surface. Rock samples at Langara grade up to 60.4 g/t Au, 1500.1 g/t Ag, and 6.8 % Cu.
  • Results from backpack drilling in 2020 at the Standard Zone of 10.84 g/t Au over 6.9 m will be followed-up with RAB, which will also target the Standard adit downslope.

Dustin Perry, CEO states “We are excited to be back at Goldrange for an expanded 2022 discovery-focused drill program.  Initial RAB drilling will test high quality, shallow targets at the Day Trip, Langara, and Standard Zones, which have been substantially de-risked through structural mapping, IP geophysics and backpack drilling. The RAB drill provides us with a low-cost drill option for near-surface targets as an initial pass prior to diamond drilling.”

Figure 1. Proposed RAB and Diamond Drilling

About Goldrange

The 511 km2 Goldrange Project spans over 43 km along a complex structural zone within the Yalakom Gold Belt in southwest British Columbia. Goldrange was acquired to cover a broad area of widespread anomalous gold mineralization in streams, soils, and rocks. In 2021, Kingfisher completed the first-ever diamond drill program on the property which focused on approximately 10% of the Cloud Drifter Trend – the most advanced target on the property that includes the Cloud Drifter, Langara, Standard, Essential, and Waterfall Zones.  Initial results returned highlights of 73.4 g/t Au over 1 m, 6.9 g/t Au over 9 m and 18.7 g/t Au over 2 m.  Widespread anomalous gold mineralization was intercepted throughout the area of drilling which spanned ~600 m by ~350 m and tested over 550 m of vertical extent. 

The RAB drilling program in 2022 is focusing on shallow targets at the Day Trip, Langara, and Standard zones shown on Figure 1 and each zone is explained in more detail below.  The diamond drilling program in 2022 will focus on the lower elevation areas of the Cloud Drifter Zone and is scheduled to begin in mid-June. Details on diamond drill targets will be announced in future releases.

Figure 2. Day Trip Zone and Proposed RAB Drilling

Day Trip Zone

The Day Trip Zone covers a rounded to flat mountain top approximately 5 km southeast of the Cloud Drifter Trend (Figure 2).  The target covers a minimum 900 x 500 m area of geophysical and geochemical anomalism that projects under talus cover on all sides The target is situated between two fault splays rooted in the regional Ottarasko Fault.  Intrusive-hosted veins up to 2 m in width occur over an area ~100 m by 400 m.  Quartz veins from this area returned grades from below detection limit to 6.7 g/t Au over 2 m.  Adjacent to the intrusion is a ~70 m x 90 m area of arsenopyrite-cement breccia in subcrop.  Approximately 20% of the subcrop material in this area consists of arsenopyrite-cement breccia and grades from 3.4 to 20.1 g/t Au (see release dated May 13, 2021).  Talus fine sampling in 2020 and 2021 outlined a broad area of gold anomalism (>100 ppb Au) over ~100 m x 450 m and grades up to 8.4 g/t Au over the subcrop breccia area.  Talus fine anomalies are coincident with areas of gold in outcrop and subcrop that graded up to 20.1 g/t Au.  Rock and talus fine geochemistry both yield a strong multi-element signature of elevated As, Ag, Cu, Bi, Te, and Pb associated with Au.

IP surveying was completed in 2021 and consisted of 5 lines spanning 4.2 km (see release dated January 12, 2022).  The survey delineated three domains with significant high chargeability values (>32 mV/V), the largest of which is broadly coincident with areas of known mineralization and talus fine anomalies. The strongest chargeability values (>60 mV/V) within the survey area are coincident with high conductivity responses on survey lines 3500, 3600, and 3700. Anomaly 3600E (Figure 5) coincides with a 90 x 70 m subcrop of sulfide-cement breccia. The geophysical anomalies are open to the south, north, and southwest as well as at depth. No rock or soil samples have been collected in the western chargeable zones to date.

Proposed RAB drill holes at Day Trip will target multiple at-surface and near-surface coincident geophysical and geochemical anomalies.  The proposed holes will drill below mapped mineralization hosted in sheeted veins on surface (see Figure 4) as well as below a sulfide-cement body mapped in subcrop (see Figure 5).  The chargeability targets each demonstrate an excellent correlation with known structural features projected to depth, such as faults, intrusive contacts or projection of breccia body.  One chargeability anomaly (3600E, Figure 5) does not continue to surface despite a spatial association with surface mineralization. This low chargeability area is interpreted to reflect a loss of sulphide near surface due to oxidation, which is also identified in rocks on the surface (e.g., Figure 3).

Figure 3: Oxidized Sulfide-Cement Breccia Grading 20.1 g/t Au

Figure 4: Day Trip Section 3700

Figure 5: Day Trip Section 3600

Langara Zone

The Langara Zone (Figure 6) is located at the eastern extent of Cloud Drifter Trend, a ~3 x 2 km gold anomaly. The Langara target is centered on a diorite intrusion that is part of the Bendor suite, emplaced into fossil-rich sandstone of the Cloud Drifter Formation. Quartz-sulfide veins are focused along northerly lithological contacts and easterly dextral-reverse faults. Hydrothermal breccia bodies lie in structural intersection domains and were the focus of hand mining activities in the 1930s. Previous assay results from 2020 work at Langara can be found in the release dated April 14, 2021.

Figure 6.  Langara Zone Proposed RAB Drilling

RAB drill targets at Langara were selected from detailed surface structural mapping coupled with surface geochemical results. An IP geophysical survey was not employed at Langara due to the presence of chargeable geology in the background rocks. The principal target at Langara is below the historical adit, which is located in a major structural interference zone (Figure 6) between a northerly vein swarm and an easterly brittle fault and shear vein corridor. The planned RAB holes will target both the northerly sheeted veins (Figure 7) and easterly shear veins and the Langara adit breccia-style mineralization, projected to plunge steeply to the south (Figure 8).

Figure 7: Langara Section 1

Figure 8: Langara Section 2

Standard Zone

The Standard Zone is the site of a historical adit (1930s) and is located on a steep cliff band to the south of the Cloud Drifter Zone (Figure 9).  Mineralization occurs along a north-trending fold corridor that projects under cover to the north.  Mineralization is focused within gentle to moderately dipping veins as well as sulfide-cement breccia within the fold hinge. The planned RAB hole will target the projection of the ore shoot mined in the 1930s and a backpack hole drilled in 2020, which included 10.84 g/t Au over 6.9 m in breccia (see core photo Figure 10 and release dated April 21, 2021). Drill and surface sampling results have confirmed that arsenopyrite-rich, breccia-style mineralization at Goldrange is associated with the highest-grade gold intercepts.

Figure 9: Standard Zone

Figure 10: BP-ST-20-01

Future Plans

Diamond drill pad construction is currently underway, and the Company anticipates the arrival of a diamond drill on or about June 10, 2022.  Diamond drill targets at the Cloud Drifter Zone will be outlined in future releases.

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 85,173,300 shares outstanding.

For further information, please contact:

Dustin Perry, P.Geo.
CEO and Director
Phone: +1-778-606-2507
E-Mail: info@kingfishermetals.com   

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.

Cautionary Note Regarding Forward-Looking Statements

Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company’s property. 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: risks related to the COVID-19 pandemic; 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.

Kingfisher Announces Upsize to Private Placement Financing

VANCOUVER, British Columbia – May 26, 2022 – Kingfisher Metals Corp. (TSX-V: KFR) (FSE: 970) (OTCQB: KGFMF) (“Kingfisher” or the “Company”) is pleased to announce that, further to its news release dated April 27, 2022, and due to investor demand, it has upsized its non-brokered private placement (the “Offering”) from gross proceeds of up to C$3.0 million to up to C$4.9 million through the issuance of charity flow-through units at a price of C$0.28 per charity unit and flow-through units at a price of C$0.24 per flow-through unit of the Company (collectively, the “Offered Units”).

The aggregate gross proceeds raised from the Offering will be used before 2024 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.

All terms of the Offering remain the same, provided that the Company intends to issue up to a total of 17,891,671 Offered Units. Each Offered Unit will be comprised of one common share of the Company (each, a “Common Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”), with each Warrant being exercisable for one Common Share at an exercise price of C$0.35 per Common Share at any time up to 24 months following the closing date of the Offering.

In connection with the Offering, the Company may pay finder’s fees to certain finders, which fees would be a cash payment equal to up to 7% of the gross proceeds raised by purchasers introduced by such finders, and the issuance of non-transferable compensation warrants equal to up to 7% of the number of Offered Units purchased by purchasers introduced by such finders (each, a “Compensation Warrant”). Each such Compensation Warrant will be exercisable for one Common Share at an exercise price of C$0.35 per Common Share at any time prior up to 24 months following the closing date of the Offering.

The Offering is expected to close on or about June 7, 2022, and is subject to approval of the TSX Venture Exchange. All securities issued pursuant to the Offering and as payment of any finder’s fees, including Common Shares issuable upon the exercise of Warrants or Compensation Warrants, if any, will be subject to a hold period of four months and one day after the date of closing of the Offering.

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 85,173,300 shares outstanding.

For further information, please contact:

Dustin Perry, P.Geo.
CEO and Director
Phone: +1 236 358 0054

E-Mail: info@kingfishermetals.com    

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.

Cautionary Note Regarding Forward-Looking Statements

This news release contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.

Forward-looking statements in this news release include, among others, statements relating to expectations regarding the expected closing date of the Offering, and other statements that are not historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: the Company may require additional financing from time to time in order to continue its operations which may not be available when needed or on acceptable terms and conditions acceptable; compliance with extensive government regulation; domestic and foreign laws and regulations could adversely affect the Company’s business and results of operations; the stock markets have experienced volatility that often has been unrelated to the performance of companies and these fluctuations may adversely affect the price of the Company’s securities, regardless of its operating performance; and the impact of COVID-19.

The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.