VANCOUVER, British Columbia, May 4, 2023 – Kingfisher Metals Corp. (TSX-V: KFR) (FSE: 970) (OTCQB: KGFMF) (“Kingfisher” or the “Company”) is pleased to provide a technical update on the HWY 37 Project that includes drill targets for the 2023 field program.
Highlights:
Targeting work includes 3D inversions of historical IP geophysical data which has outlined untested anomalies flanking the Mary porphyry deposit.
Proposed drilling (~2500 m) in 2023 will focus on the Mary to Cliff porphyry trend.
Detailed analysis of the porphyry Cu-Au potential on the project is provided in video format.
Summary
The HWY 37 Project is a district-scale (362 km2) porphyry Cu-Au and epithermal Au-Ag project located within the Golden Triangle, northwestern British Columbia.
Planning for the 2023 field season at the HWY 37 Project is currently underway and it is expected to begin in July and includes ~2500 m of diamond drilling between the Mary Cu-Au porphyry deposit and the Cliff gossan (Figure 1). This broad area sits within a ~6 by 6 km area of alteration and geochemical anomalism favourably located ~9 km from Highway 37. Texas Creek intrusions at the HWY 37 Project are also responsible for porphyry Cu-Au mineralization at Treaty Creek and KSM projects. The Company notes that mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the HWY 37 Project.
Historical work programs at Mary include 13,506 m of diamond drilling which has defined a zone of porphyry Cu-Au mineralization over 1300 m by 600 m. Drilling focused on outcrop mineralization at the Mary deposit (‘Main Zone’, or ‘Ball Creek’) with the majority of work focused on the shallow gold-rich portions of the porphyry system (Figure 2). Low angle copper and gold metal patterns are identified in the Mary deposit, which project untested under a unit interpreted as post-mineral volcanic cover. Comparable metal patterns are common to other system in the region including Treaty Creek and KSM projects.
Drilling in 2023 will focus on the lateral extents of the Mary porphyry system where the Company believes there is potential for discovering a lower level, copper-rich body. The Company recently completed a 3D inversion of historical IP geophysical data which shows a strong correlation between resistivity and historically defined mineralization (Figure 3). The target area (Figure 4) lies south of the area of historical mineralization and hosts a large (600 m by 600 m) resistive body which is open at depth. On trend and south of Mary and the resistivity target lies the Cliff gossan where mapping outlined a body of potassic-altered porphyry stockwork mineralization in outcrop.
A discussion of the drill targets at the Mary deposit as well as other targets on the HWY 37 Project is summarized in a video presentation.
Figure 3: Mary Zone: IP GeophysicsFigure 4: Mary Zone: Target Area
AuEQ values were calculated the following metal prices: Au = $1900.00/oz, Cu = $4.00/lb, and Ag = $25.00/oz. No current or historical metallurgical work has been completed on the mineral deposits within the Project and as such recoveries are assumed to be 100%. The formula used to calculate the equivalent values for the porphyry targets is AuEQ g/t = Au g/t + (Cu % * 1.4436) + (Ag g/t * 0.0132). The formula used to calculate the equivalent values for the epithermal targets is AuEQ g/t = Au g/t + (Ag g/t * 0.0132).
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, including the Golden Triangle region. Kingfisher has three 100% owned district-scale projects and an option to earn 100% of the HWY 37 Project, that offer potential exposure to gold, copper, silver, and zinc. The Company currently has 106,628,701 shares outstanding.
For further information, please contact:
Dustin Perry, P.Geo. CEO and Director Phone:+1 778 606 2507 E-Mail: [email protected]
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
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.
VANCOUVER, British Columbia, March 7, 2023 – Kingfisher Metals Corp. (TSX-V: KFR) (FSE: 970) (OTCQB: KGFMF) (“Kingfisher” or the “Company”) is pleased to announce that it has entered into two option agreements on March 6, 2023 (the “Effective Date”) to consolidate a 362 km2copper-gold project in the Golden Triangle region of NW British Columbia, subject to the approval of the TSX Venture Exchange (the “TSXV”).
Highlights
Two 4-year options to earn 100% of the Ball Creek East Project and the Hank Project, now referred to as the HWY 37 Project.
Highway 37 and the Northern Transmission Line passes through the HWY 37 Project and lies within 9–15 km of main historical zones of drilling.
Multiple open ended mineral deposits including the Mary Cu-Au Porphyry, the Williams Cu-Au Porphyry, and the Hank Au-Ag Epithermal deposits.
Same mineralization age and scale of alteration as the tier one Treaty Creek-KSM-Brucejack Trend.
Limited historical drilling on project outside of known deposits despite widespread soil anomalies and gossans over 17 x 9 km porphyry-epithermal footprint.
Located within the traditional territory of the Tahltan First Nation, with a communications agreement in place.
Dustin Perry, CEO of Kingfisher, states “The consolidation of this porphyry-epithermal district represents a significant opportunity for discovery of tier one deposits of critical and precious metals. The HWY 37 Project has a distinct advantage over much of the Golden Triangle given the proximity to infrastructure crucial to any future development. Our VP-Exploration, Gayle Febbo, and our technical advisor, Charlie Greig, have both worked in the past at the comparable KSM project and Brucejack mine, as well as the HWY 37 Project location, and have extensive knowledge of the area. We look forward to commencing exploration at the HWY 37 Project in due course.”
Gayle Febbo, VP-Exploration of Kingfisher, states “The Iskut region is host to an array of Au-rich deposit types formed at various times throughout the Mesozoic, but the most productive of these was during the emplacement of Early Jurassic Texas Creek intrusions. This suite of intrusions is known to have formed the largest gold resource globally at KSM and one of the highest-grade operating gold mines at Brucejack. The HWY 37 Project represents a rare and ideal land position with both a district-scale Cu-Au porphyry belt and superimposed Au-Ag epithermal belt caused by the same suite of intrusions as KSM and Brucejack.”
About the HWY 37 Project
The 362 km2 HWY 37 Project is in Northwest British Columbia’s Golden Triangle (Figure 1). The Stewart-Cassiar Highway (37) and the 287 kV Northwest Transmission Line pass through the eastern portion of the project. The project encompasses a broad area of porphyry Cu-Au and epithermal Au-Ag mineralization and alteration.
Figure 1: HWY 37 Location
The HWY 37 Project is located (Figure 2) within the Stikine terrane of NW British Columbia and is underlain by the Stuhini and Hazelton groups. Mineralization spans porphyry to epithermal deposit types and is related to Early Jurassic Texas Creek Intrusions which are also responsible for mineralization at the Treaty Creek-KSM-Brucejack District. The northeastern part of the project is underlain by Iskut River Formation, which also host the Eskay Creek past producing mine and are favourable for VMS mineralization.
Figure 2: HWY 37 Overview
Historical work on the project has delineated three advanced deposits with several other targets and anomalies at earlier stages of exploration. Historical drilling on the project has outlined the Mary porphyry, with 13,506 m of drilling, and Williams porphyry, with 6095 m of drilling. Mary and Williams porphyries are both open in multiple directions and show distinct similarities with porphyry systems along the KSM-Treaty porphyry belt. The Hank Au-Ag epithermal deposit has seen 21,623 m of exploration drilling, albeit mostly focused within a small area within the larger 6 x 3 km gold-silver anomaly. Drilling at Hank has mostly been confined to shallow depths (<200m).
The footprint of alteration on the project is at a similar scale to the Treaty-KSM-Brucejack district (Figure 3), although exploration maturity is much younger at HWY 37.
Figure 3: HWY 37 vs Treaty-KSM-Brucejack District
Mary Porphyry
The Mary Porphyry (Figure 4) was first worked in 1963 and was most recently drilled in 2019. The porphyry deposit crops out on the north and northeast slopes of a relatively flat-topped mountain. Cu-Au patterns at Mary define marked low angle trends open along trend (Fig. 4). Although unusual globally, this unique low angle Cu-Au trend is common to porphyry systems in the region, such as the Goldstorm (Treaty) and Sulphurets (KSM) deposits. Historical drilling was confined to a small percentage of the Mary porphyry footprint and has not focused on low angle ore geometries. Along the Cu-Au trends at Mary is a ~1500 m gap in drilling extending to the Cliff showing with an untested chargeability anomaly at depth (Fig 4). The Mary Porphyry footprint spans 6 x 6 km and is cored by an untested chargeability anomaly. The dimensions of this footprint are characteristic of multiple, coalesced porphyry centres and are likely too laterally extensive to be caused by the Mary deposit alone. The area is fully permitted, and the Company is planning to complete a program of detailed mapping, geophysics, and step out drilling to test a much larger area than was historically drilled.
Figure 4: Mary Porphyry Cu-Au
Williams Porphyry
The Williams Porphyry (Figure 5) was discovered by Golden Ridge Resources Ltd. (TSX.V: GLDN) (“Golden Ridge”) in 2017 and drilled from 2018-2019. Potassic alteration crops out at surface and mineralization has been traced to a depth of ~550 m. A large continuous chargeability anomaly extends from the area of drilling to the east and southeast for over 1.5 km and is yet to be drill tested. The Williams Porphyry is considered to be the high-level porphyry feeder to the Hank Au-Ag epithermal system although based on the 6 km lateral extent to the epithermal system, it is likely that more porphyry centers exist in this area. Future drilling at Williams will focus on defining the limits of the system and vectoring towards a copper-rich core zone. Low angle metal patterns at Williams and the presence of a chargeability anomaly lateral to the Williams porphyry reflect a similar pattern as the Mary deposit and those at KSM and Treaty. These patterns suggest that future drilling will favour lateral, same elevation targeting rather than vertically deeper targets. Permitting is underway with drilling anticipated in 2024.
Figure 5: Williams Porphyry Cu-Au
Hank
The Hank epithermal Au-Ag system was first discovered in 1980 and spans over 6 x 3 km. The epithermal system has seen considerable drilling (21,663m) which has been mostly confined to shallow depths (<200m). The majority of drilling has focused on bed-parallel shallow targets with limited testing for structural feeders and steeper gold zones. The most recent drilling at Hank (2017-2019) tested deeper holes and intercepted higher grades than seen before including visible coarse gold. Of the 120 historical diamond drill holes at Hank, all were drilled in a narrow northwest-southeast geometry, and none have targeted the potential for feeders along cross-structures. Future work at Hank will focus on infill drilling across the historical areas of drilling with the goal of producing a complaint resource as well as testing additional targets and exploration concepts throughout the 6 x 3 km trend. Permitting is underway for 2024 drilling.
Figure 6: Hank Epithermal Au-Ag System
Summary of Option Agreements
Ball Creek East Project
The Company has entered into a property option agreement (the “Ball Creek East Option Agreement”) with Evrim Exploration Canada Corp., a subsidiary of Orogen Royalties Inc. (TSX.V: OGN) (“Orogen”), whereby Orogen has granted Kingfisher the right to acquire a 100% interest in a series of mineral claims located in the province of British Columbia commonly referred to as the “Ball Creek East Project” (Figure 2), subject to a 2% net smelter return to be retained by Sandstorm Gold Ltd. (the “Ball Creek East NSR Royalty”) and the right to up to $4,100,000 in milestone payments.
Pursuant to the terms of the Ball Creek East Option Agreement, Kingfisher has the right to earn a 100% ownership interest in the Ball Creek East Project as follows:
issuing common shares with a value of $300,000 on the date that the TSXV approve the Ball Creek East Option Agreement;
issuing additional common shares with a value of $400,000 on or before the date which is the 1st anniversary of the Effective Date;
issuing additional common shares with a value of $500,000 on or before the date which is the 2nd anniversary of the Effective Date;
issuing additional common shares with a value of $1,000,000 on or before the date which is the 3rd anniversary of the Effective Date;
issuing additional common shares with a value of $1,300,000 on or before the date which is the 4th anniversary of the Effective Date;
granting a 1% net smelter returns royalty to Orogen in respect of the Company’s Ecstall Property on the Effective Date; and
in order to maintain the Ball Creek East Option Agreement in good standing until exercised to earn a 100% ownership interest in the Ball Creek East Project, Kingfisher must carry out mining work on the Ball Creek East Project incurring aggregate expenditures of $7,500,000 on or before the 4th anniversary of the Effective Date.
The Company has entered into a property option agreement (the “Hank Option Agreement”) Golden Ridge whereby Golden Ridge has granted Kingfisher the right to acquire a 100% interest in a series of mineral claims located in the province of British Columbia commonly referred to as the “Hank Project” (Figure 2), subject to a 3% net smelter return to be retained by Orogen (the “Hank NSR Royalty”) and the right to US$2,500,000 in milestone payments by Golden Ridge.
Pursuant to the terms of the Hank Option Agreement, Kingfisher has the right to earn a 100% ownership interest in the Hank Project as follows:
cash payment of $25,000 and issuing common shares with a value of $75,000 on the date that the TSXV approve the Hank Option Agreement;
issuing additional common shares with a value of $150,000 on or before the date which is the 1st anniversary of the Effective Date;
issuing additional common shares with a value of $300,000 on or before the date which is the 2nd anniversary of the Effective Date;
cash payment of $100,000 and issuing additional common shares with a value of $1,000,000 on or before the date which is the 3rd anniversary of the Effective Date;
cash payment of $125,000 and issuing additional common shares with a value of $1,475,000 on or before the date which is the 4th anniversary of the Effective Date; and
in order to maintain the Hank Option Agreement in good standing until exercised to earn a 100% ownership interest in the Hank Project, Kingfisher must carry out mining work on the Hank Project incurring aggregate expenditures of $3,000,000 on or before the 4th anniversary of the Effective Date.
Pursuant to the Hank NSR Royalty, 1% may be purchased by Golden Ridge at any time with a cash payment of US$3,000,000. Also, if the Company acquires earn a 100% ownership interest in the Hank Project, then Sandstorm will be entitled to a 2% net smelter return on the Hank Project, which may be bought down by the Company by one half with a cash payment of $1,000,000.
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, including the Golden Triangle region. Kingfisher has three 100% owned district-scale projects and an option to earn 100% of the HWY 37 Project, that offer potential exposure to high-grade gold, copper, silver, and zinc. The Company currently has 103,057,272 shares outstanding.
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
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.
VANCOUVER, British Columbia, February 22, 2023 – Kingfisher Metals Corp. (TSX-V: KFR) (FSE: 970) (OTCQB: KGFMF) (“Kingfisher” or the “Company”) announces 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
Diamond drilling at eastern Cloud Drifter Zone intercepted anomalous near surface gold mineralization over 400 m of strike including 1.93 g/t over 25 m from 32 m.
The Cloud Drifter Zone’s Pad 400 Area continues to return high grade intercepts that infill previous gaps between diamond drill holes such as 15.17 g/t Au over 1 m and 10.49 g/t Au over 1 m.
Several mineralized shear zones were identified at Langara Zone through diamond drilling including 9.45 g/t Au over 1 m and 7.26 g/t Au over 1 m.
A new style of polymetallic sulfide breccia was intercepted at Langara returning 7.41 g/t Au, 81.90 g/t Ag, 0.23 % Cu, 2.22 % Pb, and 7.63 % Zn over 0.5 m.
The RAB drill at Langara Zone located the historical Langara adit in hole GRR22-033 where the hole graded 1.3 g/t Au over 7.6 m and bottomed in a void.
Deep penetrating IP survey in Cloud Drifter Zone identified two large intense chargeability anomalies at depth.
Dustin Perry, CEO of Kingfisher, states “Drilling in 2022 at the Cloud Drifter Trend identified a large hydrothermal gold system stretching close to 3 km in length. Drilling identified corridors where gold grades are markedly increased and likely represent the tops of feeder zones to the hydrothermal system. The IP survey in the eastern Cloud Drifter Zone shows two large intense chargeability anomalies at depth – one below the area of drilling and another below the historical Standard adit. These anomalies represent high priority drill targets.”
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. The 23 diamond drill holes (Tables 1-4) and six RAB drill holes (Tables 5 and 6) of the 2022 program included within this release are located at the Langara Zone of the Cloud Drifter Trend soil anomaly.
Figure 1: Diamond and RAB Drill Hole and Section Locations in the Cloud Drifter Trend
Cloud Drifter Zone Drill Results
Pad 400 Target
Ten drill holes (Figure 2) were completed at the Pad 400 target, with the results from six of those drill holes previously released, and with four included in this release. The four holes included in this release (Table 1 and 2) were completed from a single drill pad and included highlight intercepts from of 15.17 g/t Au over 1 m (Figure 4) and 10.49 g/t Au over 1 m.
Eastern Target
Ten drill holes (Figure 3) were completed at the Eastern Target totalling 1986 m. Drilling was completed from four drill pads covering 400 m in strike length. Drilling consistently intercepted shallow broad zones of low-grade gold mineralization with a highlight intercept returning 1.9 g/t Au over 25 m (Figure 5) from 32 m depth. Drill collar information and intercepts are found within Table 1 and 2.
Table 1: Diamond Drill Collars (NAD 83 – Zone 10), Cloud Drifter Zone
Hole
Easting (m)
Northing (m)
Elevation (m)
Depth (m)
Azimuth
Dip
GR22-021
388953
5705970
1450
200.3
130
55
GR22-022
388944
5705922
1478
145.1
322
56
GR22-028
388944
5705922
1478
202.4
323
71
GR22-029
388944
5705922
1478
297.2
22
56
GR22-031
388858
5705887
1492
246.9
50
55
GR22-032
388858
5705887
1492
237.1
320
65
GR22-034
388858
5705887
1492
223.0
320
85
GR22-036
388709
5705912
1464
146.1
311
56
GR22-038
388709
5705912
1464
150
301
76
GR22-039
388709
5705912
1464
137.5
30
55
GR22-040
388529
5705815
1508
223
234
77
GR22-041
388529
5705815
1508
198
333
86
GR22-042
388529
5705815
1508
202.6
238
85
GR22-043
388529
5705815
1508
250.7
232
70
Table 2: Diamond Drill Highlights, Cloud Drifter Zone
Hole
From (m)
To (m)
Interval (m)
Au g/t
Ag g/t
Cu %
GR22-021
no significant intercepts
GR22-022
28.0
67.0
39.0
0.36
–
–
incl.
28.0
51.0
23.0
0.45
–
–
GR22-028
34.4
39.4
5.0
0.45
–
–
GR22-028
44.4
49.4
5.0
0.31
–
–
GR22-028
119.4
121.4
2.0
0.41
–
–
GR22-029
24.2
34.2
10.0
0.28
–
–
GR22-031
27.0
41.0
14.0
0.26
–
–
GR22-031
94.0
109.0
15.0
0.21
–
–
GR22-031
129.0
130.0
1.0
2.67
–
–
GR22-032
32.0
57.0
25.0
1.93
–
–
incl.
34.0
43.0
9.0
4.18
–
0.13
incl.
40.0
41.0
1.0
24.57
23.27
0.65
and
54.0
56.0
2.0
3.77
–
–
GR22-032
90.0
111.0
21.0
0.31
–
–
incl.
99.0
100.0
1.0
3.52
–
–
GR22-034
27.0
45.0
18.0
0.33
–
–
incl.
37.0
42.0
5.0
0.85
–
–
GR22-034
50.0
51.0
1.0
0.58
–
–
GR22-034
92.0
94.0
2.0
1.94
–
–
GR22-034
98.0
113.0
15.0
0.61
–
–
GR22-034
104.0
105.0
1.0
6.99
14.20
0.13
GR22-034
132.0
142.0
10.0
0.24
–
–
GR22-034
156.0
157.0
1.0
0.81
–
–
GR22-036
41.0
84.0
43.0
0.32
–
–
incl.
53.0
60.0
7.0
0.89
–
–
GR22-038
46.0
65.0
19.0
0.54
–
–
incl.
56.6
65.0
8.4
0.97
–
–
GR22-039
41.0
56.0
15.0
0.17
–
–
GR22-040
169.0
171.0
2.0
3.63
–
–
Incl.
169.0
170.0
1.0
6.42
–
–
GR22-041
152.0
157.0
5.0
3.75
–
0.11
incl.
155.0
156.0
1.0
15.17
15.17
0.37
GR22-042
172.0
176.0
4.0
2.68
–
–
incl.
172.0
173.0
1.0
10.49
–
–
GR22-042
182.0
192.0
10.0
0.71
–
0.12
incl.
187.0
188.0
1.0
4.43
14.61
0.78
GR22-043
129.0
135.0
6.0
0.35
–
–
GR22-043
230.0
232.0
2.0
0.85
–
–
*True widths are not known at this time. All widths reported are drilled widths. Values <10 g/t Ag, <0.1% Cu, Pb and Zn not displayed
Figure 2: Cross section view of Pad 400 Target Area, View NorthFigure 3: Cross section view of Eastern Target Area, View NorthFigure 4: Photograph of Drillhole GR22-041, Pad 400 Target Area (15.2 g/t Au over 1 m from 155.0 m)Figure 5: Photograph of Drillhole GR22-032, Eastern Target Area (24.6 g/t Au over 1 m from 40.0 m)
Langara Zone Diamond Drill Results
Diamond drilling at the Langara Zone was completed from one pad location near the top of the ridgeline. Four holes were completed over 1594 m. Drill hole GR22-030 was aimed towards the location of the historical adit and failed to hit similar mineralization with a highlight of 3.96 g/t Au, 60.22 g/t Ag and 0.63% Cu over 1 m.
GR22-033, -035, and -037 were completed to test for down dip extensions of a vein outcrop at surface on the eastern slopes of the Langara Zone. Sulfide breccia (Figure 8), narrow veins, as well as a 12 m wide deformation zone (Figure 9) were intersected. Collar information and highlight intercepts are found within Table 3 and 4 below. Highlight intercepts are displayed on Figure 6 and 7.
Table 3: Diamond Drill Collars (NAD 83 – Zone 10), Langara Zone
Hole
Easting (m)
Northing (m)
Elevation (m)
Depth (m)
Azimuth
Dip
GR22-030
390266
5705334
1891
505.0
307
58
GR22-033
390266
5705334
1891
362.0
25
45
GR22-035
390266
5705334
1891
353.0
25
53
GR22-037
390266
5705334
1891
374.0
25
62
Table 4: Diamond Drill Highlights, Langara Zone
Hole
From (m)
To (m)
Interval (m)
Au g/t
Ag g/t
Cu %
Pb %
Zn %
GR22-030
207.0
208.0
1.0
3.96
60.22
0.63
–
–
GR22-033
157.0
158.0
1.0
3.74
17.99
0.10
0.18
–
GR22-033
202.0
205.0
3.0
3.28
–
–
–
–
incl.
204.0
205.0
1.0
9.45
25.17
0.10
–
–
GR22-033
321.3
321.8
0.5
7.41
81.90
0.23
2.22
7.63
GR22-035
154.0
156.1
2.1
1.22
–
–
–
–
GR22-035
195.0
197.0
2.0
3.71
–
–
–
–
Incl.
196.0
197.0
1.0
7.26
–
–
–
–
GR22-035
322.0
330.0
8.0
0.93
–
–
–
0.12
Incl.
322.0
326.0
4.0
1.80
11.94
–
0.11
0.24
GR22-037
360.9
363.0
2.0
0.59
–
–
–
0.26
*True widths are not known at this time. All widths reported are drilled widths. Values <10 g/t Ag, <0.1% Cu, Pb and Zn not displayed
Figure 6: Section from Langara ZoneFigure 7: Section from Langara Zone with both RAB and diamond drill holesFigure 8: Drill Core Photo Langara Zone, Hole GR23-033 (7.4 g/t Au over 0.5 m from 321.5 mFigure 9: Drill Core Photo Langara Zone, Hole GR23-035 (1.2 g/t Au over 2.1 m from 154.0 m)
Langara Zone RAB Drill Results
Six RAB drill holes were completed from one drill pad with the goal of intercepting the historical Langara adit as well as testing sheeted sulfide veins in the area of the pad. GR22-033 intersected the adit at 9.14 m and was unable to advance any further.
Table 5: RAB Drill Collars (NAD 83 – Zone 10), Langara Zone
Hole
Easting (m)
Northing (m)
Elevation (m)
Depth (m)
Azimuth
Dip
GRR22-033
390144
5705445
1767
9.1
240
55
GRR22-034
390144
5705445
1767
89.9
240
65
GRR22-035
390144
5705445
1767
88.4
197
57
GRR22-036
390144
5705445
1767
77.7
55
60
GRR22-037
390144
5705445
1767
71.6
30
60
GRR22-038
390144
5705445
1767
62.5
330
60
Table 6: RAB Drill Highlights, Langara Zone
Hole
From (m)
To (m)
Interval (m)
Au g/t
Ag g/t
Cu %
Pb %
Zn %
GRR22-033
0
7.6
7.6
1.30
29.39
0.26
–
–
GRR22-034
No significant intercepts
GRR22-035
0
4.6
4.6
0.28
–
–
–
–
GRR22-036
No significant intercepts
GRR22-037
No significant intercepts
GRR22-038
No significant intercepts
*True widths are not known at this time. All widths reported are drilled widths. Values <10 g/t Ag, <0.1% Cu, Pb and Zn not displayed
Cloud Drifter Geophysical Survey Results
Seven line-km of IP-resistivity surveying was completed on the eastern portion of the Cloud Drifter Zone over five separate lines. Two of the five lines were surveyed at wider spacings to allow for deeper penetration. Line 1450, presented in Figure 10, is one of the deeper penetrating lines, and delineates two significant IP anomalies. One of the IP anomalies is centered at depth below the GR22-036, -038, and -039. The other IP anomaly lies under the Standard Zone, which was hand mined historically, and is where Kingfisher backpack drilled 6.9 m of 10.84 g/t Au during their 2020 exploration program.
Figure 10: Chargeability along section 1450, view to east
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.
Quality Assurance/Quality Control (QAQC)
All diamond 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.
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.
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. Drill core and RAB 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.
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.
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.
VANCOUVER, British Columbia, January 10, 2023 – Kingfisher Metals Corp. (TSX-V: KFR) (FSE: 970) (OTCQB: KGFMF) (“Kingfisher” or the “Company”) announces 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
The Western Target Area has limited surface exploration due to steep terrain and returned up to 2 m of 4.4 g/t Au
The highest concentration and grade of intercepts in the Western Target Area appear to vector to the Pad 400 Target Area, with a more than 200 m gap in drilling
Similar to other drilled regions of the Cloud Drifter Trend, broad anomalous gold was intercepted often centered on focused high-grade structures
Dustin Perry, CEO states “Drilling of the Western Target Area returned anomalous gold mineralisation that increases in strength towards the center of the soil anomaly where our best results have come to date. We await results from the Eastern Target Area, the Langara Zone, and the four final holes of the program drilled near the highlight intercept of 2.9 g/t Au over 40 m in GR22-018.”
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. The five drill holes of the 2022 program (Tables 1 and 2) included within this release are located at the western boundary of the Cloud Drifter Trend soil anomaly. Remaining drill hole results from the Cloud Drifter and Langara zones are pending.
Western Target Area
Drill holes at the Western Target Area, located 200-400 m west of the Pad 400 Target Area, focused on domains of high multi-element soil geochemical anomaly coupled with a coincident conductivity and chargeability anomaly. Geological mapping in 2020 identified an Fe-oxide alteration body uphill of this soil anomaly that contains Fe-oxide veins interpreted to reflect the reaction of sulfide minerals with meteoric water and air. The Western Target Area has seen little exploration to date due to the steep nature of the terrain.
Highlight intercepts from the Western Target Area are listed in Table 1 and plotted on Figure 2.
Figure 1: Diamond Drill Hole and Section Locations in the Cloud Drifter Zone
Hole
From (m)
To (m)
Interval (m)
Au g/t
GR22-023
84.5
86.5
2
1.36
GR22-023
131.3
131.8
0.5
1.57
GR22-024
64.5
75.5
11
0.34
GR22-024
89.5
94.5
5
0.52
GR22-025
47
67
20
0.30
GR22-025
213
218
5
0.41
GR22-026
78
79
1
2.49
GR22-026
112
114
2
1.34
GR22-026
246
247
1
2.15
GR22-026
315
318
3
0.91
GR22-026
350
357
7.1
1.55
incl.
350
352
2
4.37
GR22-027
no significant intervals
*True widths are not known at this time. All widths reported are drilled widths.
Table 1: Highlight Drill Intercepts, Western Target Area
Hole
Easting (m)
Northing (m)
Elevation (m)
Depth (m)
Azimuth
Dip
GR22-023
388185
5705655
1572
252
354
57
GR22-024
388257
5705646
1583
285
333
54
GR22-025
388257
5705646
1583
348
333
74
GR22-026
388122
5705481
1700
502
30
56
GR22-027
388122
5705481
1700
498
300
55
Table 2: Diamond Drill Collars (NAD 83 – Zone 10)
Figure 2: Sections from Western Target Area
Exploration Update
A total of 29 diamond drill holes, over 7,545 m, have been completed in the Cloud Drifter Trend. Drilling at the Western Target Area included 5 holes over 1,884 meters and drilling at the Eastern Target Area included ten holes over 1,986 meters. Drilling at the Pad 400 Target Area included 2,082 m over 10 holes. Four drill holes at the Langara Zone have been completed over 1,594 meters. Results are pending for the Eastern Target Area, the Langara Zone, and four remaining holes at the Pad 400 Target Area.
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’s 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 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.
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.
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.
All five (5) of the nominees listed in Kingfisher’s management information circular dated November 17, 2022, that were proposed by management for election to the board of directors at the Meeting were duly elected. The directors will remain in office until the next annual meeting of the Company’s shareholders or until their successors are elected or appointed.
The results of the vote on the election of the directors at the Meeting are as follows:
Nominee
For
% For
Withheld
% Withheld
Dustin Perry
32,315,096
99.92
25,423
0.08
David Loretto
32,198,525
99.56
141,994
0.44
Giuseppe (Pino) Perone
32,313,525
99.92
26,994
0.08
Chris Beltgens
32,329,686
99.97
10,833
0.03
Richard Trotman
32,181,686
99.51
158,833
0.49
Appointment of Auditors
Shareholders reappointed De Visser Gray LLP as auditor of the Company for the upcoming year and authorized the directors of the Company to fix the remuneration of the auditor.
Approval of Stock Option Plan
The Company’s incentive stock option plan, and amendments thereto, were approved by shareholders with 99.95% of shares represented at the Meeting voting in favour.
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.
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.
Statements contained in this release that are not historical facts are forward-looking statements that involve various risks and uncertainty affecting the business of Kingfisher. In making the forward-looking statements, Kingfisher has applied certain assumptions that are based on information available, including Kingfisher’s strategic plan for the near and mid-term. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Kingfisher does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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 LocationsFigure 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-22-011
4.57
9.14
4.57
0.52
GRR-22-012
7.62
16.76
9.14
0.43
GRR-22-013
0.00
9.14
9.14
0.79
GRR-22-014
0.00
9.14
9.14
0.56
GRR-22-016
0.00
9.14
9.14
0.54
GRR-22-019
4.57
27.43
22.86
0.22
GRR-22-023
10.67
15.24
4.57
2.70
Incl.
10.67
12.19
1.52
6.81
GRR-22-025
25.91
41.15
15.24
0.50
GRR-22-026
4.57
9.14
4.57
2.06
GRR-22-027
13.72
25.91
12.19
0.48
GRR-22-029
0.00
22.86
22.86
0.27
*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
Hole
Easting (m)
Northing (m)
Elevation (m)
Depth (m)
Azimuth
Dip
GRR-22-001
392313
5702390
2274
70.10
162
70
GRR-22-002
392311
5702391
2274
82.30
247
55
GRR-22-003
392311
5702393
2275
56.39
300
55
GRR-22-004
392313
5702394
2275
65.53
345
55
GRR-22-005
392314
5702394
2275
71.63
20
55
GRR-22-006
392296
5702432
2280
36.58
162
55
GRR-22-007
392295
5702432
2280
13.72
210
55
GRR-22-008
392264
5702379
2273
82.30
15
70
GRR-22-009
392262
5702376
2272
41.15
247
55
GRR-22-010
392264
5702375
2272
19.81
160
55
GRR-22-011
392266
5702377
2273
44.20
90
55
GRR-22-012
392264
5702377
2272
19.81
0
90
GRR-22-013
392278
5702407
2279
67.06
0
90
GRR-22-014
392278
5702406
2278
45.72
90
65
GRR-22-015
392278
5702407
2278
16.76
247
60
GRR-22-016
392278
5702407
2279
54.86
20
60
GRR-22-017
392254
5702346
2271
41.15
30
80
GRR-22-018
392218
5702361
2271
54.86
247
80
GRR-22-019
392218
5702361
2271
57.91
69
70
GRR-22-020
392190
5702458
2276
60.96
248
55
GRR-22-021
392190
5702458
2276
51.82
248
70
GRR-22-022
392140
5702442
2266
36.58
248
65
GRR-22-023
392140
5702442
2266
39.62
248
90
GRR-22-024
392080
5702424
2246
74.68
68
70
GRR-22-025
392080
5702424
2244
64.01
248
65
GRR-22-026
392064
5702395
2236
77.72
247
60
GRR-22-027
392064
5702395
2236
70.10
190
60
GRR-22-028
392181
5702401
2266
18.92
247
70
GRR-22-029
392181
5702401
2266
22.80
0
90
GRR-22-030
392307
5702283
2272
28.96
68
58
GRR-22-031
392307
5702283
2272
36.58
141
60
GRR-22-032
392307
5702283
2272
30.48
148
90
Table 2. RAB Drill Hole Locations (NAD83, Zone 10).
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 ResultsFigure 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 No
Width (cm)
Au (g/t)
Ag (g/t)
Cu (%)
Pb (%)
Sb (%)
Bi (ppm)
Te (ppm)
c0135801
50
7.05
52.91
0.14
0.10
0.30
388.85
11.55
c0135802
30
17.29
78.77
0.06
0.42
0.38
73.55
5.76
c0135803
15
10.97
6.28
0.01
0.09
0.05
38.83
1.04
c0135804
50
49.78
51.47
0.13
0.07
0.21
547.49
11.18
c0135805
15
18.13
43.24
0.16
0.24
0.18
333.38
11.46
c0135806
10
0.16
19.71
0.70
0.00
0.01
17.49
1.79
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.
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.
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.
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
Hole
From (m)
To (m)
Interval (m)
Au g/t
GR22-015
no significant intercepts
GR22-016
75
77
2
19.54
and
112
117
5
0.55
GR22-017
82
83
1
10.39
and
85
106
21
0.57
and
114
115
1
3.35
GR22-018
43
44
1
2.97
and
118
119
1
2.21
and
141
180
40
2.86
incl.
141
150
9
5.56
incl.
161
162
1
19.91
incl.
174
180
6
5.05
GR22-019
93
95
2
3.77
and
127
128
1
3.08
and
132
133
1
58.88
GR22-020
85
87
2
9.55
*True widths are not known at this time. All widths reported are drilled widths. Table 1: Highlight Drill Intercepts, Pad 400 Target Area
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: [email protected]
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
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.
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 theWestern 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.
Hole
Easting (m)
Northing (m)
Elevation (m)
Depth (m)
Azimuth
Dip
GR22-015
388582
5705826
1503
201
310
80
GR22-016
388582
5705826
1503
148
327
76
GR22-017
388616
5705883
1469
227
247
46
GR22-018
388616
5705883
1469
226
235
45
GR22-019
388469
5705848
1476
203
139
70
GR22-020
388469
5705848
1476
203
151
64
GR22-021
388953
5705970
1450
200
131
55
GR22-022
388945
5705922
1478
145
322
56
GR22-023
388185
5705655
1572
252
353
55
GR22-024
388257
5705646
1583
285
333
53
GR22-025
388257
5705646
1583
348
333
75
Table 1: Diamond Drill Collars (NAD 83 – Zone 10)
Figure 1: Diamond Drill Hole Locations within the Cloud Drifter Zone
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.
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.
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.
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)
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.
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.
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.
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 CollarsFigure 2: Langara Zone Aerial View to East
Hole
Easting (m)
Northing (m)
Elevation (m)
Depth (m)
Azimuth
Dip
GRR22-033
390144
5705445
1767
9.14
240
55
GRR22-034
390144
5705445
1767
89.92
240
65
GRR22-035
390144
5705445
1767
88.39
197
57
GRR22-036
390146
5705447
1767
77.72
55
60
GRR22-037
390146
5705447
1767
71.63
30
60
GRR22-038
390145
5705447
1767
62.48
330
60
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
Hole
From (m)
To (m)
Interval (m)
As ppm
Cu ppm
Pb ppm
Zn ppm
GRR22-033
0.00
9.14
9.14
15075
1453
222
165
GRR22-034
0.00
53.34
53.34
469
175
20
151
incl
0.00
25.91
25.91
1148
361
46
309
and
71.63
89.92
18.29
169
57
3
75
GRR22-035
0.00
45.72
45.72
721
164
29
189
incl
0.00
12.19
12.19
3529
504
109
661
GRR22-036
0.00
56.39
56.39
537
282
20
479
incl
15.24
33.53
18.29
1998
1013
24
145
GRR22-037
1.52
12.19
10.67
269
100
315
662
and
18.29
56.39
38.10
223
163
14
105
GRR22-038
0.00
13.72
13.72
421
221
55
1083
and
35.05
44.20
9.14
137
93
10
115
and
44.20
62.48
18.29
134
76
421
914
incl
48.77
59.44
10.67
237
124
805
1724
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: [email protected]
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
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.
