VANCOUVER, British Columbia – May 26, 2022 – Kingfisher Metals Corp. (TSX-V: KFR) (FSE: 970) (OTCQB: KGFMF) (“Kingfisher” or the “Company”) is pleased to announce that, further to its news release dated April 27, 2022, and due to investor demand, it has upsized its non-brokered private placement (the “Offering”) from gross proceeds of up to C$3.0 million to up to C$4.9 million through the issuance of charity flow-through units at a price of C$0.28 per charity unit and flow-through units at a price of C$0.24 per flow-through unit of the Company (collectively, the “Offered Units”).
The aggregate gross proceeds raised from the Offering will be used before 2024 for general exploration expenditures which will constitute Canadian exploration expenses (within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the “Tax Act”)), that will qualify as “flow through mining expenditures” within the meaning of the Tax Act.
All terms of the Offering remain the same, provided that the Company intends to issue up to a total of 17,891,671 Offered Units. Each Offered Unit will be comprised of one common share of the Company (each, a “Common Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”), with each Warrant being exercisable for one Common Share at an exercise price of C$0.35 per Common Share at any time up to 24 months following the closing date of the Offering.
In connection with the Offering, the Company may pay finder’s fees to certain finders, which fees would be a cash payment equal to up to 7% of the gross proceeds raised by purchasers introduced by such finders, and the issuance of non-transferable compensation warrants equal to up to 7% of the number of Offered Units purchased by purchasers introduced by such finders (each, a “Compensation Warrant”). Each such Compensation Warrant will be exercisable for one Common Share at an exercise price of C$0.35 per Common Share at any time prior up to 24 months following the closing date of the Offering.
The Offering is expected to close on or about June 7, 2022, and is subject to approval of the TSX Venture Exchange. All securities issued pursuant to the Offering and as payment of any finder’s fees, including Common Shares issuable upon the exercise of Warrants or Compensation Warrants, if any, will be subject to a hold period of four months and one day after the date of closing of the Offering.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Kingfisher Metals Corp.
Kingfisher Metals Corp. (https://kingfishermetals.com/) is a Canadian based exploration company focused on underexplored district-scale projects in British Columbia. Kingfisher has three 100% owned district-scale projects that offer potential exposure to high-grade gold, copper, silver, and zinc. The Company currently has 85,173,300 shares outstanding.
For further information, please contact:
Dustin Perry, P.Geo. CEO and Director Phone: +1 236 358 0054
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
This news release contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.
Forward-looking statements in this news release include, among others, statements relating to expectations regarding the expected closing date of the Offering, and other statements that are not historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: the Company may require additional financing from time to time in order to continue its operations which may not be available when needed or on acceptable terms and conditions acceptable; compliance with extensive government regulation; domestic and foreign laws and regulations could adversely affect the Company’s business and results of operations; the stock markets have experienced volatility that often has been unrelated to the performance of companies and these fluctuations may adversely affect the price of the Company’s securities, regardless of its operating performance; and the impact of COVID-19.
The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
VANCOUVER, British Columbia – April 27, 2022 – Kingfisher Metals Corp. (TSX-V: KFR) (FSE: 970) (OTCQB: KGFMF) (“Kingfisher” or the “Company”) is pleased to announce a non-brokered private placement of charity flow-through units (the “Charity FT Units”) at a price of C$0.28 per Charity Unit and flow-through units (the “FT Units” and, collectively with the Charity FT Units, the “Offered Units”) at a price of $0.24 per FT Unit of the Company to raise aggregate gross proceeds of up to approximately C$3.0 million (the “Offering”).
The Offered Units will be offered pursuant to exemptions from the prospectus requirements to residents of the Provinces of British Columbia, Alberta, Saskatchewan, Ontario, Quebec, and such other Canadian jurisdictions as may be agreed to by the Company. Each Offered Unit shall consist of one flow-through common share and one half of one transferable non-flow-through common share purchase warrant (each whole such common share purchase warrant, a “Warrant”). Each Warrant will be exercisable to acquire one additional non-flow-through common share of the Company for 24 months from the Closing Date at an exercise price of C$0.35.The aggregate gross proceeds raised from the Offered Units will be used before 2024 for general exploration expenditures which will constitute Canadian exploration expenses (within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the “Tax Act”)), that will qualify as “flow through mining expenditures” within the meaning of the Tax Act.
The Offering is expected to close on or about May 19, 2022 and is subject to the receipt of all necessary regulatory and other approvals, including, but not limited to, the listing of the “flow-through” shares on the TSX Venture Exchange. Closing of the Offering is subject to approval of the TSX Venture Exchange. The Offered Units will be subject to a hold period of four months and one day from the closing date in accordance with applicable securities laws. The Company may pay finder’s fees to certain finders in connection with the Offering.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Kingfisher Metals Corp.
Kingfisher Metals Corp. (https://kingfishermetals.com/) is a Canadian based exploration company focused on underexplored district-scale projects in British Columbia. Kingfisher has three 100% owned district-scale projects that offer potential exposure to high-grade gold, copper, silver, and zinc. The Company currently has 85,173,300 shares outstanding.
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
This news release contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.
Forward-looking statements in this news release include, among others, statements relating to expectations regarding the expected closing date of the Offering, and other statements that are not historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: the Company may require additional financing from time to time in order to continue its operations which may not be available when needed or on acceptable terms and conditions acceptable; compliance with extensive government regulation; domestic and foreign laws and regulations could adversely affect the Company’s business and results of operations; the stock markets have experienced volatility that often has been unrelated to the performance of companies and these fluctuations may adversely affect the price of the Company’s securities, regardless of its operating performance; and the impact of COVID-19.
The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
VANCOUVER, British Columbia, April 19, 2022 – Kingfisher Metals Corp. (TSX-V: KFR) (FSE: 970) (OTCQB: KGFMF) (“Kingfisher” or the “Company”) announces results from its 100% owned GoldrangeProject. Goldrange is located approximately 25 km south of the town of Tatla Lake in the Chilcotin region of Southwest British Columbia.
Highlights
Fieldwork outlined two areas (Lotus and Lost Fiddle) with bonanza gold grades in outcrop.Mineralization at both projects under forest and till cover and is open laterally and at depth.
Rock chip sampling at Lotus returned four samples greater than one ounce per ton gold with up to 113.9 g/t Au and backpack drill resultsinclude up to 13.4 g/t Au over 0.43 m.
At the Lost Fiddle Prospect, which is only 2 km north of the Cloud Drifter Trend, backpack drilling of historical blast trenches returned up to 17.1 g/t Au, 431 g/t Ag, and 4.12% Cu over 0.45 m.
Dustin Perry, CEO states“Regional sampling in 2021 highlights the high-grade discovery potential at the district-scale Goldrange Project. The Lotus and Lost Fiddle prospects are particularly attractive as there are no limitations on dimensions. Outcrop exposures at both locations contain bonanza grades that disappear under forest or till cover leaving excellent upside for future discoveries.”
The Lost Fiddle Prospect is located 2 km north of the Cloud Drifter Trend, the most advanced target within the district (Figure 1). Kingfisher geologists located historical blast trenches for the first time since the 1960s. The only available information on the Lost Fiddle Prospect was from government records, which provided an approximate location but no assay results. The blast trenches were located by Kingfisher some 325 m northwest of where records indicated.
Figure 1. Target areas in the southern Goldrange Project
During the 2021 field program, nine short backpack drill holes totalling 16.07 m, 198 soil samples and 27 grab and rock chip samples were collected at Lost Fiddle (Figure 2; Tables 1 and 2). The backpack drill and rock chip samples were focused around three historical blast trenches and mineralized exposures. Soils were collected on a 25 m grid. Rock samples returned several high-grade gold results including the previously reported (Sept 28, 2021) 42.80 g/t Au, 1097.0 g/t Ag, and 1.27% Cu (Figure 2; Table 1). Anomalous soils were located proximal to the historical blast trenches with grades up to 1402 ppb Au (1.4 g/t), 49,718 ppb Ag (49.7 g/t) and 2062.8 ppm Cu (0.21%; Figure 2, Table 2). The soil grid was covered in a thick layer of till, which may account for a lower soil response outboard of the outcrop area. Backpack drilling was focused around the western blast trench. Hole BP-LF-21-05 graded 17.1 g/t Au, 431 g/t Ag, and 4.12% Cu over 0.45 m hosted in a strongly oxidized quartz vein with vuggy boxwork. Hole BP-LF-21-09 intersected 50 cm of massive pyrite-pyrrhotite-chalcopyrite-arsenopyrite sulfide (true thickness unknown) from 2.4 to 2.9 m grading 13.4 g/t Au, 251 g/t Ag, and 5.24% Cu hosted in volcaniclastic conglomerate. Kingfisher’s sampling at Lost Fiddle delineated a mineralized footprint measuring at least 200 x 200 m.
Figure 2. Lost Fiddle Prospect sampling and backpack drill results
Au (g/t)
Ag (g/t)
Cu (%)
Min. Value
0.01
0.1
0.01
Max. Value
42.80
1097.0
1.27
Ave. Value
3.83
131.4
0.39
Median Value
1.10
37.2
0.23
90th Percentile
8.11
429.2
1.16
Table 1: 2021 Lost Fiddle rock sample statistics (n = 27)
The Lotus Prospect was discovered in the 1990s in a gully exposure within broad forest and till cover. Lotus hosts a northwesterly-striking, moderately west-dipping shear banded quartz vein and reverse brittle fault zone with a minimum 3 m width. The true thickness of the zone is unknown due to forest cover on both west and east continuations. Veins of quartz, carbonate, pyrite and arsenopyrite cut volcanic and sedimentary rocks. The target lies on trend with a district-scale thrust fault and is proximal to a regional-scale contact with Bendor plutonic rocks, known as an important focus for mineralization at the Goldrange Project.
In 2021, Kingfisher geologists completed a program of hand trenching, backpack drilling and rock chip sampling. Five shallow backpack holes totalling 11.85 m and an additional 10 rock chip samples were collected (Figure 3, Table 3). Rock chips collected from the vein exposure returned four samples more than one ounce per ton gold with grades up to 113.9 g/t Au (Table 3). Backpack drill highlights include hole BP-LT-21-01, which graded 13.4 g/t Au over 0.43 m. Backpack drilling was plagued with poor recovery with a considerable amount of sulfide material washed out of the drill hole in a slurry. Mineralization within the gully projects laterally uphill beneath till cover, laterally and downhill beneath forest cover and has never been tested with a diamond drill. The width extent of the vein is masked by the presence of a post-mineral, tabular felsic dike following the western margin of the gully exposure
Figure 3. Lotus Prospect sampling and backpack drill results
Au (g/t)
Ag (g/t)
Cu (%)
Te (ppm)
Min. Value
0.00
0.1
0.00
0.3
Max. Value
113.90
205.0
0.44
217.7
Ave. Value
15.88
25.1
0.04
31.4
Median Value
0.71
2.5
0.01
3.6
90th Percentile
69.17
104.5
0.20
133.6
Table 3: 2020 and 2021 Lotus rock sample statistics (n = 16)
Future Plans
The Company intends to file an amendment to its current 5-year area-based permit to incorporate the Lost Fiddle and Lotus prospects so that permitted work including IP geophysics and drilling can be completed.
Sampling Protocol
Backpack drillholes at the Goldrange Project are BQ sized (36.4 mm diameter). A continuous series of one half to one-metre-long full core samples was taken down the entire length of each backpack drill hole. Unlabeled certified reference materials (CRM) were inserted systematically throughout the backpack drillhole sample sequence along with blanks. The total number of blanks, and CRM samples equals approximately 5% of the total samples taken.
Grab and chip rock samples are selective by nature and values reported may not be representative of mineralized zones. Rock and backpack drill core samples were submitted to Acme Analytical Laboratories Inc., a division of Bureau Veritas Commodities Canada Ltd., located in Vancouver, British Columbia, an ISO9001:2008 accredited laboratory. The samples were prepared using the PRP70-250 method by crushing 1.0 kg of rock to =>70% passing through a 2 mm sieve. A sample of 250 grams was then pulverized so that greater than or equal to 85% passes through a less than 75 μmsieve. A 0.25 g split was then subjected to a 4 acid near total digest where the split is heated in a HNO3, HClO4 and HF solution to fuming, dried and then dissolved in HCL. The resulting solution was then analyzed for 45 major and trace elements using ICP-ES/MS (method code MA200). A 30 g split was analyzed for gold using a lead collection fire assay fusion that was then digested and analyzed using AAS (method code FA430).
A 30 g split of samples that assayed >10 ppm gold and/or >200 ppm Ag were analyzed using a lead collection fire assay fusion with a gravimetric finish (method code FA530). Samples that assayed for >200 ppm W; > 4000 ppm Bi, Mo, or Sb; >10000 ppm Cu, Pb or Zn were digested using a HNO3, HClO4 and HF solution to fuming, dried and then dissolved in HCL. The resulting solution was then analyzed using ICP-ES (method code MA370). Samples that assayed > 10000 ppm As were digested using a modified aqua regia digestion (1:1:1 HNO3:HCl:H2O) and analyzed using ICP-ES (method code MA370).
Soil samples weighing approximately 250 grams per sample were delivered by company personnel to Acme Laboratories Inc.. The soil samples were prepared using the SS80 method by drying them at 60˚C and sieving to less than 180 μm (80 mesh). A 30 gram split of the sieved soil sample was then subjected to a modified aqua regia digestion (1:1:1 HNO3:HCl:H2O) and analyzed for 37 major and trace elements using ICP-ES/MS (method code AQ252). Field duplicates were collected and submitted every 40 samples.
Qualified Person
Dustin Perry, P.Geo., Kingfisher’s CEO, is the Company’s Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects, and has prepared the technical information presented in this release.
About Kingfisher Metals Corp.
Kingfisher Metals Corp.(https://kingfishermetals.com/) is a Canadian based exploration company focused on underexplored district-scale projects in British Columbia. Kingfisher has three 100% owned district-scale projects that offer potential exposure to high-grade gold, copper, silver, and zinc. The Company currently has 85,173,300 shares outstanding.
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 29, 2022 – Kingfisher Metals Corp. (TSX-V: KFR) (FSE: 970) (OTCQB: KGFMF) (“Kingfisher” or the “Company”) announces results from its 100% owned Thibert Project. Thibert is located 50 km north-northwest of the town of Dease Lake and west of the Stewart-Cassiar Highway 37, British Columbia.
Highlights
The 130 km2 Thibert Project has seen placer gold production since the 1870s with ~200,000 oz of gold production within the Thibert-Dease Placer Camp. Placer gold is typically sourced from nuggety high grade gold in veins.
Kingfisher completed a property-wide (688-line km) airborne magnetic and radiometric survey which highlights the northwest trending crustal scale Thibert Shear Zone as well as easterly and northerly trending cross structures which may be responsible for gold mineralization.
Property-wide stream sediment sampling (n = 103) was completed to infill gaps in historical and government RGS sampling.
Stream sediment sampling identified highly anomalous streams up to 1535.5 ppb Au (1.53 g/t Au) in the headwaters of two placer bearing streams.
Highly anomalous stream sediments (26.9 and 243.3 ppb Au) from an area with no placer production identifies a new area prospective for bedrock hosted gold.
The Company is operating under a communications agreement with the Tahltan Central Council and intends to renew the agreement this spring.
“Although Goldrange remains our near-term priority, we are very encouraged by the prospectivity of the Thibert Project. The geological, geochemical, and geophysical signatures of this historical placer camp support our hypothesis that Thibert has the potential to host significant orogenic gold systems. This, coupled with historical placer gold production and anecdotal highlights, increases our confidence in this exciting project.” Stated Dustin Perry, CEO, who explains the contents of this release in more detail in video format.
The 130 km2 Thibert Project covers an area of significant historical and contemporary placer gold production from Thibert Creek and several tributaries for which the bedrock source has not yet been discovered. The majority of placer production from Thibert and its tributaries occurred in the late 1800’s to early 1900’s with ~200,000 ounces of gold estimated to be produced from Thibert-Dease placer district.
The Thibert Project spans 27 km of strike length along the Thibert Shear Zone – a major crustal scale terrane bounding fault system separating the island arc Quesnel and oceanic Cache Creek Terranes. The project is prospective for Cretaceous-aged mesozonal orogenic gold mineralization similar to that found within the Juneau Gold Belt in Alaska and the Motherlode District in California. While no bedrock source to the placer gold has been discovered through drilling, records from historical work provide compelling clues that it may be within in the current tenure:
Keystone Prospect: in 1931 stripping and open cutting exposed a zone of quartz stringers in quartz porphyry returned 9.1 g/t Au over 12.2 m. This exposure was believed to have been covered by placer workings and has not been exposed since (BC Annual Mines Report, 1931).*
Ficklin Prospect: anecdotal reports of prospector Homer Ficklin discovering a 100 lb angular quartz boulder from which he recovered ~60 oz Au (J.E. Wallis, 1989).*
Defot Creek Placer Prospect: reports of multiple gold nuggets over 10 oz and up to 22 oz (BC Annual Mines Report, 1878).*
*Historical results from the Keystone, Ficklin, and Defot Prospects has not been verified by the Company and should not be relied upon.
Figure 1: Thibert Project location, placer workings, and gold occurrences.
In 2021, 103 stream sediment samples were collected across the Thibert Project (Figure 2). The goal of property-wide geochemical sampling program was to infill gaps within the project not covered by the BC Regional Geochemical Survey or sampling from historical assessment reports. Combined 2021 and historical stream sediment samples total 131 (Table 1).
GOLD (ppb)
All Data (n = 131)
2021 Data (n = 103)
Min. Value
1
0.8
Max. Value
1535.5
1535.5
Ave. Value
24
22.4
Median Value
3.8
3.5
75th %tile
7.2
5
90th %tile
12.6
9.9
95th %tile
51.5
25.4
Table 1: Summary statistics for the 2021 and historical stream geochemistry.
Several new anomalous drainages were identified by the 2021 stream sediment survey. Additionally, some of the anomalous drainages identified by the historical stream sediment surveys are strongly supported by the 2021 survey. The most significant 2021 sample assayed 1535.5 ppb Au and was collected from Defot Creek, a productive placer drainage. This sample was collected in close proximity and slightly down stream from the historical Ficklin Prospect where anecdotal reports describe 60 oz of “spectacular free gold” coming from an angular 100 lb boulder. This site was located in the pass separating Defot Creek from Porcupine Creek where Homer Ficklin built a cabin and dug trenches in an attempt to locate the source of this boulder in the late 1920s (J.E. Wallis, 1989). Additionally, BC Annual Mine Reports from several years note the presence of large gold nuggets up to 22 oz in this area.
Two of the 2021 samples and two of the historical samples draining into Adsit Lake (Figure 2) at the Thibert Project are highly anomalous in Au. The 2021 samples assayed 26.9 and 243.3 ppb Auand are located at Adsit Lake (26.9 ppb Au) and at a drainage located northwest of the lake (243.3 ppb Au).
A 2021 sample collected from a tributary draining into Mosquito Creek (Figure 2), an area of placer production, assayed 47.8 ppb Au. Northeast of Mosquito Creek an anomalous sample was collected that assayed 32.1 ppb Au.
Figure 2: Thibert Project stream geochemistry and magnetic susceptibility.
Precision Geosurvey Ltd. was contracted to fly a heliborne magnetic and radiometric survey during summer 2021 (Figure 3). Lines were flown at a 200 m spacing across the Thibert Project for a total of 688-line km surveyed.
The magnetic survey was successful in providing a structural framework for the 27 km-long project. The crustal scale Thibert Shear Zone is highlighted by a series of mapped ultramafic intrusions that have exploited the favourable pathway of this terrane bounding fault. Magnetic anomalies stretch across the length of the project that correlate with mapped ultramafic intrusions. A large percentage of the project is masked by glacial till and therefore ultramafic intrusions have only been mapped where they outcrop. The results of the magnetic survey indicate that these favourable host rocks may be more extensive than was previously known.
One significant area of interest outlined in the magnetic survey occurs near the Keystone Prospect where carbonate altered and serpentinized ultramafic rocks have been observed. This area is located on a significant flexure point within the regional structural trend. Inflections in structural trends are known to be important locations for orogenic gold mineralization.
Another broad area of interest is the northwestern portion of the project where ultramafic rocks have been mapped but are associated with a subdued magnetic response. Given the consistency of highly anomalous gold in stream sediment samples, there is potential for a large-scale magnetically destructive alteration system. Further geophysical analysis and ground truthing will be required to further this target area.
Figure 3: Thibert Project magnetic susceptibility and geology.
Future Work
The Company continues to analyse data collected in 2021 and is in the process of formulating plans for a field program that will be completed in early fall 2022. With a previously completed surficial geology map as well as the geochemical and geophysical programs detailed in this news release, the Thibert Project is now ready for more focused exploration work. The targets that will be the focus of future work include the Adsit Lake area, the Porcupine and Defot drainages, and the Keystone Prospect further down Thibert Creek.
Future programs will likely include more focused soil and till geochemical programs as well as ground-based geophysical programs. The objective of these programs will be to further refine targets for initial scout drilling.
Sampling Protocol
Transported silt often found in side pools and back eddies were targeted for stream sediment samples. Silt was collected from moss matts where no side pool or back eddies were readily accessible. Samples were collected in labelled cloth Hubco bags, which also contained an analytical tag with the sample ID. Stream sediment samples weighing approximately 1000 grams per sample were delivered by Company personnel to Acme Labs located in Vancouver, BC, an ISO9001:2008 accredited laboratory. The stream sediment samples were prepared using the SS80 method by drying them at 60˚C and sieving to less than 180 μm (80 mesh). A 30 gram split of the sieved stream sediment sample was then subjected to a modified aqua regia digestion (1:1:1 HNO3:HCl:H2O) and analyzed for 37 major and trace elements using ICP-ES/MS (method code AQ252).
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 84,673,300 shares outstanding.
For further information, please contact:
Dustin Perry, P.Geo. CEO and Director Phone: +1 236 358 0054 E-Mail: [email protected]
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
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 9, 2022 – Kingfisher Metals Corp. (TSX-V: KFR) (FSE: 970) (OTCQB: KGFMF) (“Kingfisher” or the “Company”) announces assay results from the Langara Zone, part of the Cloud Drifter Trend within the Goldrange Project. Goldrange is located approximately 25 km south of the town of Tatla Lake in the Chilcotin region of Southwest British Columbia.
Highlights
Expansion of mineralized footprint to over 400 x 600 m with more than 360 m of vertical extent.
Hand trenching extends high-grade gold mineralization 150 m to the east with the discovery of a ~60 m trend of veins and breccia grading up to 38.6 g/t Au in rock chips and 8.42 g/t Au over 1 m in backpack drilling.
Prospecting of the western Langara Zone identified several new mineralized veins with rock chips grading up to 60.4 g/t Au, which doubles 2020 and historical grades from the zone.
An additional undocumented historical adit was located with dump samples grading up to 9.57 g/t Au.
The Langara Zone will be drill tested in May to June of 2022.
Dustin Perry, CEO of Kingfisher states “After two years of field work at the Langara Zone, we are now ready to move towards drill testing this exciting target. It’s no surprise that hand mining activities from the 1930s are centered on a major structural intersection that we have outlined with our own mapping. Although prospectors from the 1930s likely did not understand the exploration implications of this structural setting, we believe the geology is highly prospective for the continuation of surface mineralization to significant depths. The Langara Zone is one of the first targets we will test this year with a reverse circulation (RC) drill in late May to early June.”
The Langara Zone is located at the eastern extent of Cloud Drifter Trend (Figure 1), a ~3 x 2 km gold anomaly. The Langara target is centered on a diorite intrusion that is part of the Bendor suite, emplaced into sandstone of the Cloud Drifter Formation. Quartz-sulfide veins are focused along northerly lithological contacts and easterly dextral-reverse faults. Hydrothermal breccia bodies lie in structural intersection domains and were the focus of hand mining activities in the 1930s. Previous assay results from 2020 work at Langara can be found in the release dated April 14, 2021.
Figure 1: Cloud Drifter Trend Geochemical Anomaly with Select Highlights
In 2021, two backpack drill holes were completed and 39 grab and rock chip samples were collected at the Langara Zone (see Table 1). A total of 24 rock chip samples and two backpack drill holes were completed at a ~60 m-long trench located 150 m east of the bedrock mineralization sampled in 2020. This trench was discovered by following up on a northeast trending line of highly anomalous soil samples that assayed between 0.66 and 5.76 g/t Au. Hand trenching exposed a continuous trend of veins and breccia that grades up to 38.6 g/t Au, 212.0 g/t Ag, 0.55 % Cu, and 357.8 ppm Te in rock chip samples. Backpack hole BP-LG-21-09 tested veins within the hand trench and returned a highlight interval of 8.42 g/t Au, 49.3 g/t Ag and 115 ppm Te over 1 m.
The remaining rock samples collected in 2021 are located north, northeast, and west of the area of 2020 rock sampling. Prospecting at Langara identified an undocumented historical adit, with dump samples grading up to 9.57 g/t Au, 54.9 g/t Ag, and 8.7 ppm Te. Southwest of this adit, a grab sample grading 60.4 g/t Au, 97.1 g/t Ag, and 0.21% Cu was collected, which doubles the 2020 and historical Au grades from the Langara Zone in rocks.
Au (g/t)
Ag (g/t)
Cu (%)
Te (ppm)
Min. Value
0.01
0.1
0
0.3
Max. Value
60.40
212.0
0.55
357.8
Ave. Value
8.17
40.3
0.11
80.8
Median Value
1.64
12.5
0.06
4.6
90th Percentile
25.10
107.3
0.33
299.7
Table 1: 2021 rock sample statistics (n = 39)
Since 2020, Kingfisher collected a total of 97 grab samples at the Langara Zone, outlining mineralization over a surface area of more than 400 by 600 m and over 360 m in vertical extent. Grab samples are highly anomalous in gold, silver, copper, and tellurium with maximum assays of 60.4 g/t Au, 1500.1 g/t Ag, 6.77 % Cu and 554.3 ppm Te (Table 2).The Langara surface mineralization coincides with highly anomalous Au-Ag-Sb-Cu-As-Bi-Te soil geochemistry over a ~700 by 1150 m area.
Au (g/t)
Ag (g/t)
Cu (%)
Te (ppm)
Min. Value
0.01
0.1
0.00
0.3
Max. Value
60.40
1500.1
6.77
554.3
Ave. Value
6.87
77.1
0.37
98.5
Median Value
3.57
23.8
0.09
42.4
90th Percentile
20.20
189.6
1.03
300.4
Table 2: 2020 and 2021 rock sample statistics (n = 97)
Figure 2: Langara Zone gold soil anomaly and 2021 sampled areas
Future Work
The 2022 exploration program will use an RC drill and a diamond drill to follow up on the highly anomalous Au-Ag-Cu-Te surface mineralization discovered at Langara. The goal of the 2022 program is to drill-test the subsurface projection of the northerly and easterly sheeted vein bodies in the central Langara Zone. Drilling will also target the subsurface projection of a hydrothermal breccia body at the southern Langara adit, which lies at the intersection of the two structural trends (Figure 2).
Backpack drillholes at the Goldrange Project were BQ sized (36.4 mm diameter). A continuous series of one half to one-metre-long full core samples was taken down the entire length of each backpack drill hole. Unlabelled certified reference materials (CRM) were inserted systematically throughout the backpack drillhole sample sequence along with blanks. The total number of blanks, and CRM samples equals approximately 5% of the total samples taken.
Grab and chip rock samples are selective by nature and values reported may not be representative of mineralized zones. Rock and backpack drill core samples were submitted to Acme Labs, a division of Bureau Veritas, located in Vancouver, British Columbia, an ISO9001:2008 accredited laboratory. The samples were prepared using the PRP70-250 method by crushing 1.0 kg of rock to =>70% passing through a 2 mm sieve. Two hundred and fifty grams was then pulverized so that =>85% passes through a less than 75 μm sieve. A 0.25 g split was then subjected to a 4 acid near total digest where the split is heated in a HNO3, HClO4 and HF solution to fuming, dried and then dissolved in HCL. The resulting solution was then analyzed for 45 major and trace elements using ICP-ES/MS (method code MA200). A 30 g split was analyzed for gold using a lead collection fire assay fusion that was then digested and analyzed using AAS (method code FA430).
A 30 g split of samples that assayed >10 ppm gold and/or >200 ppm Ag were analyzed using a lead collection fire assay fusion with a gravimetric finish (method code FA530). Samples that assayed for >200 ppm W, > 4000 ppm Bi, Mo, Sb, >10000 ppm Cu, Pb or Zn were digested using a HNO3, HClO4 and HF solution to fuming, dried and then dissolved in HCL. The resulting solution was then analyzed using ICP-ES (method code MA370). Samples that assayed > 10000 ppm As were digested using a modified aqua regia digestion (1:1:1 HNO3:HCl:H2O) and analyzed using ICP-ES (method code MA370).
Qualified Person
Dustin Perry, P.Geo., Kingfisher’s CEO, is the Company’s Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects, and has prepared the technical information presented in this release.
About Kingfisher Metals Corp.
Kingfisher Metals Corp. (https://kingfishermetals.com/) is a Canadian based exploration company focused on underexplored district-scale projects in British Columbia. Kingfisher has three 100% owned district-scale projects that offer potential exposure to high-grade gold, copper, silver, and zinc. The Company currently has 84,673,300 shares outstanding.
For further information, please contact:
Dustin Perry, P.Geo. CEO and Director Phone: +1 236 358 0054 E-Mail: [email protected]
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
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 2, 2022 – Kingfisher Metals Corp. (TSX-V: KFR) (FSE: 970) (OTCQB: KGFMF) (“Kingfisher” or the “Company”) announces assay results from the remaining seven drill holes from its initial 14-hole (4925.3 m) drill program on the Goldrange Project. Goldrange is located approximately 25 km south of the town of Tatla Lake in the Chilcotin region of Southwest British Columbia.
Initial drilling at the Cloud Drifter Trend has outlined a large open-ended mineralizing system highlighted by multiple high-grade structures within a broad halo of anomalous gold mineralization.
To date, less than 10% of the ~3 x 2 km Cloud Drifter Trend has been drill tested with mineralization encountered over 550 m of vertical extent.
Drilling in 2022 will follow up on high-grade structures discovered in 2021 as well as numerous other targets across and beyond the Cloud Drifter Trend including the Standard, Langara, and Day Trip Zones.
The inaugural 2021 drill program targeted a small part (350 m x 600 m) of the western end of the gold-in-soil geochemical anomaly that defines the ~3 by 2 km Cloud Drifter Trend (Figure 1), in an area of extensive forest cover and limited outcrop. Significant intercepts from 7 drill holes are highlighted in Table 1 and Figure 2, more detailed drill hole summaries are given below. Previous assay results from the 2021 drill program can be found in releases dated November 16, 2021 and February 1, 2022. The results presented in this news release are discussed by Kingfisher’s CEO Dustin Perry and VP Exploration Gayle Febbo in a summary video.
Dustin Perry, CEO of Kingfisher states “The inaugural grassroots drill program at the Cloud Drifter Trend has successfully identified a significant gold system with broadly anomalous gold mineralization surrounding multiple high-grade structures. Drilling in 2021 tested less than 10% of the Cloud Drifter Trend and was focused in an area of extensive forest cover. Hitting blind mineralization over a vertical extent of 550 m bodes very well for expanded drilling across the trend in 2022. This year’s program will follow up on the high-grade structures intercepted in 2021 as well as testing many other exciting targets throughout the highly prospective Cloud Drifter, Standard, Langara, and Day Trip Zones.
Hole
From (m)
To (m)
Interval (m)
Au g/t
Ag g/t
Cu %
GR21-004
54
70
16
0.60
–
–
incl.
63
64
1
2.68
–
–
and
80
91
11
0.44
–
–
and
155
165
10
0.33
–
–
GR21-005
99
102
3
0.68
–
–
and
158
158.8
0.8
1.00
–
–
and
164
176
12
0.30
–
–
incl
174
175
1
1.89
–
–
GR21-006
108
110
2
2.03
–
–
and
120
123
3
0.34
–
–
and
165
170
5
0.31
–
–
GR21-008
175
179
4
0.80
–
–
and
189.9
202
12.1
0.38
–
–
incl.
201
202
1
2.19
–
0.17
and
212
219
7
0.39
–
–
and
291
293
2
2.52
–
–
incl.
291
292
1
4.76
–
–
and
348
353
5
0.36
–
–
GR21-009
41
42
1
1.47
–
–
and
173
183
10
1.22
–
–
incl.
175
179
4
2.62
–
0.19
GR21-010
10
16
6
6.78
13.2
0.20
incl.
14
16
2
18.69
35.0
0.47
incl.
15
16
1
30.20
45.7
0.29
and
31
36
5
0.28
–
–
and
195
199
4
0.42
–
–
and
380
381
1
1.63
–
–
GR21-011
42
52
10
0.34
–
0.10
and
154
159
5
0.44
–
–
*True widths are not known at this time. All widths reported are drilled widths. Values less than 10 g/t Ag and < 0.1% Cu not reported within the highlight table.
Table 1: Highlight drill intercepts from oriented core diamond drilling at the Goldrange project
Geology and Mineralization of the Cloud Drifter Trend
The Cloud Drifter Trend (Figure 1) is a ~3 by 2 km zone of highly anomalous Au-Ag-Sb-Cu-As-Bi-Te geochemistry that is coincident with quartz-sulfide and sulfosalt veins, sulfide-cement breccias, and quartz-sulfide replacement zones. In 2020, Kingfishers’ work along the Trend included prospecting that yielded 312 rock geochemical samples yielding an average grade of 6.26 g/t Au and soil sampling which produced an extensive soil geochemical anomaly with 50 samples over 1 g/t Au.
Mineralization within the Trend and throughout the 487 km2 Goldrange Project is closely associated with and largely hosted by a complex of Late Cretaceous quartz diorite and diorite intrusions emplaced into Triassic to Cretaceous sedimentary and volcanic rocks.
Figure 2: Cloud Drifter Zone – 2021 Drilling
Descriptions of Drill Holes
Drill holes in this release (Figures 3-7) targeted a gold in soil geochemical anomaly in an area with limited surface outcrop exposure and sampling. All holes collared uphill of the upper contact of the diorite intrusion and a gold in soil geochemical anomaly. A 15-200 m thick interval of diorite is intersected in all holes with sedimentary siltstone and sandstone in the footwall and hanging wall. Holes GR21-008 and -010 intersected >100 m interval of quartz diorite at depth. Vein and breccia of quartz-carbonate-arsenopyrite-pyrite ± chalcopyrite ± sphalerite are developed in both sedimentary and intrusive rocks, flanked by pervasive quartz-carbonate-sericite alteration.
Further geological descriptions of drill core and drill collar locations can be found in news releases dated September 2, 2021 and October 6, 2021.
Figure 3: Cross-section of GR21-010 and GR21-007 within 20 m envelop, view north-northeastFigure 4: Cross-section of GR21-011, GR21-003 and GR21-007 within 20 m envelope, view north-northeastFigure 5: Cross-section of GR21-005 and GR21-006, view eastFigure 6: Cross-section of GR21-004 and GR21-003 within 20 m envelope, view northeastFigure 7: Cross-section of GR21-008 and GR21-009, view northeast
Future Work
The Company is currently analysing drill hole data in 3D and determining drill targets for the upcoming 2022 drill campaign. Planning for the upcoming drill program has begun and a diamond drill rig and RAB drill rig have been contracted. It is anticipated that drilling will begin by mid May 2022.
QAQC and Core Sampling Protocols
All drillholes at the Goldrange property were 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. The total number of blanks, duplicates and CRM samples equals approximately 5% of the total samples taken.
Core samples were shipped to Acme Labs, a division of Bureau Veritas, located in Vancouver, British Columbia, for preparation and analysis. Bureau Veritas is an ISO 9000 accredited analytical laboratory and is independent of Kingfisher Metals an its Qualified Person. Samples were prepped using the PRP7-250, PUL85 and SPTPL packages and analysed for 45 major and trace elements using ICP-ES/MS (method code MA200). A 30 g split from each sample was analyzed for Au using a lead collection fire assay fusion that was digested and analyzed using AAS (method code FA430). A 30g split from samples that assayed >10 ppm Au and/or >200 ppm Ag was analyzed using a lead collection fire assay fusion with a gravimetric finish (method code FA530).
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 84,673,300 shares outstanding.
For further information, please contact:
Dustin Perry, P.Geo. CEO and Director Phone: +1 236 358 0054 E-Mail: [email protected]
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
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 1, 2021 – Kingfisher Metals Corp. (TSX-V: KFR) (FSE: 970) (OTCQB: KGFMF) (“Kingfisher” or the “Company”) announces assay results from three additional holes from its initial 14-hole (4925.3 m) drill program on the Goldrange Project. Assay results for seven remaining drill holes are pending. Goldrange is located approximately 25 km south of the town of Tatla Lake in the Chilcotin region of Southwest British Columbia.
Highlights
Discovery of a high-grade vein and breccia intercept with 2 m of 37.82 g/t Au, 20.0 g/t Ag, and 0.16% Cu including 1 m of 73.40 g/t Au, 39.50 g/t Ag, and 0.29% in hole GR21-014 located 68 m below surface (Table 1).
Shallow drilling has revealed broad zones of near-surface mineralization over significant widths, such as 0.76 g/t Au over 8 m in hole GR21-012 and 0.36 g/t Au over 17 m in hole GR21-013.
Initial drilling at the Cloud Drifter Trend has now confirmed multiple intercepts of open-ended gold mineralization throughout the 550 m of vertical extent that was partially tested in 2021. Approximately 90% of the ~3 km Cloud Drifter Trend remains untested by drilling.
Drill core from the previously released intercept of 6.88 g/t Au over 9 m (GR21-007) as well as two other visually significant intercepts from GR21-009 and GR21-010 (pending assays) will be on display at the AMEBC Roundup conference in Vancouver, BC on Feb 2-3. Drill core photos of these intercepts are included within this release.
Dustin Perry, CEO of Kingfisher states “The headline intercept in GR21-014 demonstrates the potential for very high-grade gold mineralization within the Cloud Drifter Trend. The high-grade gold intercepts in GR21-014 and GR21-007 (see November 16, 2021 press release) are located at low relative elevations and are close to surface, 68 m and 140 m respectively. These shallow targets are part of an emerging trend of high-grade gold mineralization hosted in lower quartz diorite intrusions. Prospecting in 2020 identified several areas of disseminated and stockwork mineralized quartz diorite that grade up to 9 g/t Au. Seeing these styles of mineralization on trend and up to 500 m away from these high-grade drill intercepts has our exploration team excited as we move towards the 2022 drill program.
The 2021 drill program targeted a small part (350 m) of the western end of the gold-in-soil geochemical anomaly that defines the ~3 by 2 km Cloud Drifter Trend (Figure 1). It lies in an area of extensive forest cover and limited outcrop. Significant intercepts from the three drill holes included in this release are highlighted in Table 1 and Figures 2-4, with more detailed drill hole summaries presented below.
Hole
From (m)
To (m)
Interval (m)
Au g/t
Ag g/t
Cu %
GR21-012
15
16
1
1.76
–
–
and
74
80
6
0.31
–
–
and
84
87
3
1.09
–
–
incl.
86
87
1
3.11
–
–
and
93
101
8
0.76
–
–
incl.
95
96
1
2.41
–
–
GR21-013
71
73
2
1.23
–
–
and
77
81
4
0.46
–
–
incl.
77
78
1
1.35
–
–
and
102
103
1
4.52
–
–
and
120
121
1
2.32
–
–
and
213
230
17
0.36
–
–
incl.
214
215
1
2.86
–
–
and
235
241
6
0.42
–
–
GR21-014
73
74
1
1.17
–
–
and
95
99
4
0.34
–
–
and
109
111
2
37.82
20.0
0.16
incl.
110
111
1
73.40
39.5
0.29
and
120
124
4
0.52
–
–
*True widths are not known at this time. All widths reported are drilled widths. Values less than 10 g/t Ag and < 0.1% Cu not reported within the highlight table.
Table 1: Highlight drill intercepts from diamond drilling at the Goldrange project
Figure 1: Cloud Drifter Trend
Geology and Mineralization of the Cloud Drifter Trend
The Cloud Drifter Trend (Figure 1) is a ~3 by 2 km zone of highly anomalous Au-Ag-Sb-Cu-As-Bi-Te geochemistry that is coincident with quartz-sulfide and sulfosalt veins, sulfide-cemented breccias, and quartz-sulfide replacement zones. In 2020, Kingfishers’ work along the Trend included prospecting that yielded 312 rock geochemical samples yielding an average grade of 6.26 g/t Au and soil sampling which produced an extensive soil geochemical anomaly with 50 samples returning over 1 g/t Au.
Mineralization within the Trend and throughout the 487 km2 Goldrange Project is closely associated with and largely hosted by a complex of Late Cretaceous quartz-diorite and diorite intrusions emplaced into Triassic to Cretaceous sedimentary and volcanic rocks.
Figure 2: Cloud Drifter Zone – 2021 Drilling
Drill Hole Descriptions
Drill holes GR21-012, -013 and -014 (Figures 3 and 4) were drilled from the same drill pad and targeted a gold in soil geochemical anomaly in an area with limited surface exposure. All three holes collared uphill of the upper contact of the quartz diorite intrusion from which limited surface grab samples grade up to 128.9 g/t Au. A 120-150 m thick sill of quartz diorite, dipping gently to the south, was intersected in all holes with sedimentary rocks in the footwall and hanging wall. Veins and breccias of quartz-carbonate-arsenopyrite-pyrite ± chalcopyrite ± sphalerite are developed in both sedimentary and intrusive rocks and are flanked by pervasive quartz-carbonate-sericite alteration.
Further geological descriptions of drill core and drill collar locations can be found in press releases dated September 2, 2021 and October 6, 2021.
Figure 3: Cross-section of GR21-012 and GR21-014, view north-northeastFigure 4: Cross-section of GR21-013, view east
Outstanding Assays and Future Plans
The Company awaits the remainder of analytical results from the 2021 drill program. The remainder of assays will be released once they are received and QAQC protocols have been completed.
Kingfisher is currently in the planning stages for the 2022 drill program that is anticipated to begin in early to mid May.
AMEBC Roundup Coreshack
Select polished drill core and rock samples from the Goldrange Project will be on display at the AMEBC Roundup Coreshack on February 2and 3, 2022. Drill core from visually significant intercepts in GR21-007, -009, and -010 will be presented.
Representative photographs of the drill core that will be on display are included below:
GR21-007GR21-009GR21-010
QAQC and Core Sampling Protocols
All drillholes at the Goldrange property were 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. The total number of blanks, duplicates and CRM samples equals approximately 5% of the total samples taken.
Core samples were shipped to Acme Labs, a division of Bureau Veritas, located in Vancouver, British Columbia, for preparation and analysis. Bureau Veritas is an ISO 9000 accredited analytical laboratory and is independent of Kingfisher Metals an its Qualified Person. Samples were prepped using the PRP7-250, PUL85 and SPTPL packages and analysed for 45 major and trace elements using ICP-ES/MS (method code MA200). A 30 g split from each sample was analyzed for Au using a lead collection fire assay fusion that was digested and analyzed using AAS (method code FA430). A 30g split from samples that assayed >10 ppm Au and/or >200 ppm Ag was analyzed using a lead collection fire assay fusion with a gravimetric finish (method code FA530).
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 84,673,300 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, January 12, 2022 – Kingfisher Metals Corp. (TSX-V: KFR) (FSE: 970) (OTCQB: KGFMF) (“Kingfisher” or the “Company”) is pleased to announce results from the 2021 Induced Polarization (IP) geophysical survey and geochemical sampling program at the Day Trip Zone within the Goldrange Project. The Day Trip Zone is located approximately 5 km southeast of the Cloud Drifter Trend and was discovered by Kingfisher in 2020. Kingfisher’s 100% owned Goldrange project is located approximately 25 km south of the town of Tatla Lake in the Chilcotin region of Southwest British Columbia.
Highlights
Discovery of a very high, at surface IP chargeability and conductivity anomaly that underlies highly Au anomalous geochemistry and veins on surface.
Geochemical sampling in 2021 expanded upon the 2020 talus fines survey increasing the footprint of anomalous (>100 ppb) Au in talus from ~50 m x 100 m to ~100 m x 450 m.
The Day Trip target is fully permitted and ready for track mounted RAB drilling in May 2022.
Dustin Perry, CEO of Kingfisher commented, “I am very excited to see how our mapping, geochemical sampling, and now IP geophysical survey have all validated this attractive target. These results confirm an excellent drill prospect on a brand-new area that we discovered in 2020 through our prospecting program.”
Target Overview
The Day Trip Zone covers a rounded to flat mountain top approximately 5 km southeast of the Cloud Drifter Trend (Figure 1). The target is situated between two interpreted fault splays of 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. Adjacent to the intrusion is a ~70 m x 90 m area of arsenopyrite-cement breccia in subcrop. Approximately 20% of the subcrop material in this area consists of arsenopyrite-cement breccia and grades from 3.4 to 20.1 g/t Au. Talus fine sampling in 2020 outlined a broad area of gold anomalism coincident with areas of gold in outcrop and subcrop that graded up to 8.4 g/t Au over the subcrop breccia area. Rock and talus fine geochemistry both yield a strong multi-element signature of As, Ag, Cu, Bi, Te, and Pb associated with Au.
Figure 1: Day Trip Zone Drone Image
2021 Exploration Program
The 2021 exploration program at the Day Trip Zone consisted of 4.2-line km of Induced Polarization (IP) geophysical surveying in addition to 189 talus fine samples (Figures 2 and 3). The program was designed to follow up on an area of arsenopyrite cement breccia subcrop adjacent to an area of intrusive-hosted quartz veins.
Talus fine sampling in 2021 covered an area of ~400 m x 450 m. The 2021 talus fine sampling expanded the anomaly (>100 ppb Au) to cover an area measuring ~100 m x 450 m with talus fines collected in 2021 grading up to 1.0 g/t Au.
Figure 2: Day Trip Zone Geochemistry
The IP geophysical surveying (IP Survey Inversions) delineated three domains with significant high chargeability values (>32 mV/V), the largest of which is broadly coincident with areas of known mineralization and talus fine anomalies. The strongest chargeability values (>60 mV/V) within the survey area are coincident with high conductivity responses on survey lines 3500, 3600, and 3700. The anomaly on survey line 3600 coincides with a 90 x 70 m subcrop of sulfide-cement breccia. The geophysical anomalies are open to the south, north, and southwest as well as at depth. No rock or soil samples have been collected in the western chargeable zones to date.
Figure 3: Day Trip Zone IP Geophysics
2022 Proposed Exploration Program
Track-mounted rotary air blast (RAB) drilling is planned to begin in May 2022. Given the low snowpack in the area of interest, drilling can commence at the Day Trip Zone prior to the Cloud Drifter Trend. Drilling will focus on testing areas of coincident geophysical and geochemical anomalism within the area of sedimentary-hosted arsenopyrite-cement breccia as well as the intrusive-hosted vein domain. Track-mounted RAB drilling will allow for efficient and low-cost initial testing of this at-surface target.
Additional Claim Staking
An additional seven (7) claims (Figure 4) comprising 12,077 Ha have been staked at the Goldrange Project. The majority of claims staked were focused along the northern, road accessible region of the project. Several drainages in the northern claims contain stream sediment anomalies for orogenic pathfinders including As, Sb, Bi, and Te identified in the British Columbia Regional Geochemical Survey (BC RGS).
Figure 4: Goldrange Project Tenure Additions
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 84,673,300 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, November 16, 2021 – Kingfisher Metals Corp. (TSX-V: KFR) (FSE: 970) (OTCQB: KGFMF) (“Kingfisher” or the “Company”) is pleased to announce results from the first four holes assayed from its 14-hole 4925.3 m 2021 program. Assay results for 10 remaining drill holes are pending. Goldrange is located approximately 25 km south of the town of Tatla Lake in the Chilcotin region of Southwest British Columbia.
Highlights
Discovery of a high-grade sulfide-cement hydrothermal breccia with 6.88 g/t Au, 13.6 g/t Ag and 0.28% Cu over 9 m, in GR21-007 (Table 1)
Vein-style mineralization yielding 14.80 g/t Au over 1 m within 2.16 g/t Au over 8 m, also in GR21-007; and 5.30 g/t Au over 1 m in GR21-002
Drilling to date has also revealed broad zones of near-surface mineralization over significant widths, such as 0.90 g/t Au over 12 m, 0.41 g/t Au over 16 m, 0.38 g/t Au over 9 m, and 0.38 g/t Au over 10 m in GR21-003; and 0.32 g/t Au over 7 m and 0.32 g/t over 8 m in GR21-007
The initial results of drilling confirm the presence of a gold system with significant intersects in all holes other than GR21-001, which failed to reach target depth due to difficult drilling conditions in this shallow, slope-parallel hole; poor recoveries may have plagued the shallower parts of all drill holes in this release
The 2021 drill program targeted a small part (350 m) of the western end of the gold-in-soil geochemical anomaly that defines the ~3 by 2 km Cloud Drifter Trend (Figure 1), in an area of extensive forest cover and limited outcrop. Significant intercepts from the drill holes are highlighted in Table 1 and Figure 2, more detailed drill hole summaries are given below, and the results presented in this news release are discussed by Kingfisher CEO Dustin Perry and Exploration Vice President Gayle Febbo in a video as well as during a webinar at 11am EST.
Hole
From (m)
To (m)
Interval (m)
Au g/t
Ag g/t
Cu %
GR21-001
–
–
–
no significant values
GR21-002
26
27
1
5.30
–
–
GR21-003
35
44
9
0.38
–
–
and
56
68
12
0.90
–
–
and
78
94
16
0.41
–
–
and
179
189
10
0.38
–
–
GR21-007
35
43
8
2.16
–
–
Incl.
41
42
1
14.80
–
–
and
136
143
7
0.32
–
–
and
418
427
9
6.88
13.6
0.28
and
451
459
8
0.32
–
–
Table 1: Highlight drill intercepts from oriented core diamond drilling at the Goldrange project. *True widths are not known at this time. All widths reported are drilled widths. Values less than 10 g/t Ag and < 0.1% Cu not reported within the highlight table.
Figure 1: Cloud Drifter Trend
“I am thrilled that we were able to intersect high-grade mineralization on the initial drill holes of the first ever diamond drill program at the Goldrange Project. This initial drill program at Goldrange covered less than 10% of the Cloud Drifter Trend yet it is yielding some impressive intersections so far. We believe we are in the early stages of the discovery of a significant high-grade gold camp and we look forward to receiving our remaining results from both the Cloud Drifter drilling and from our property-wide exploration (soil and rock geochemical sampling, geological mapping, and IP geophysics). Planning for an expanded 2022 drill and field program throughout the Trend has already begun.”
Dustin Perry, CEO of Kingfisher states
Charlie Greig, Technical Advisor to Kingfisher, stated “The results from the first Cloud Drifter holes are exciting. To get broad ore grade intercepts in the initial holes bodes very well for the exploration potential of the Trend. The polyphase nature of the mineralization and its association with elevated bismuth, tellurium and antimony, elements which may be valuable in their own right and which are very commonly associated with high-grade gold deposits worldwide is significant. It is very early days for the Goldrange Project and its numerous mineral occurrences, which are just now beginning to be tested with modern exploration methods.”
Geology and Mineralization of the Cloud Drifter Trend
The Cloud Drifter Trend (Figure 1) is a ~3 by 2 km zone of highly anomalous Au-Ag-Sb-Cu-As-Bi-Te geochemistry that is coincident with quartz-sulfide and sulfosalt veins, sulfide-cement breccias, and quartz-sulfide replacement zones. In 2020, Kingfishers’ work along the Trend included prospecting that yielded 312 rock geochemical samples yielding an average grade of 6.26 g/t Au and soil sampling which produced an extensive soil geochemical anomaly with 50 samples over 1 g/t Au.
Mineralization within the Trend and throughout the 367 km2 Goldrange Project is closely associated with and largely hosted by a complex of Late Cretaceous quartz-diorite and diorite intrusions emplaced into Triassic to Cretaceous sedimentary and volcanic rocks.
Figure 2: Cloud Drifter Zone – 2021 Drilling
Drill Hole Descriptions
Drill Hole GR21-007:
GR21-007 was drilled uphill of a soil geochemical anomaly near the projected trend of the plutonic contact. Assay results for this hole were prioritized in the interests of drill hole targeting once it was recognized that the lower quartz diorite was mineralized. However, given the delays common to all analytical laboratories this season, the original drill plan remained unchanged.
The excellent intercept in this hole (6.88 g/t Au, 13.60 g/t Ag, and 0.28% Cu over 9 m between 418 m and 427 m) represents a previously unrecognized style of mineralization in the region, a high-grade breccia body hosted by quartz diorite (Figures 3 and 4). Gold is associated with sooty dark-coloured sulfides within the matrix to the breccia (Figure 2). Given the Au grades and elevated Sb (0.10%), Bi (181.89 ppm), Cu (0.28%), As (0.33%) and Te (1.45 ppm), the sooty minerals likely include Au-bearing sulfosalts (tetrahedrite-tennantite?), or tellurides. In addition, a shallow zone of high-grade vein-style mineralization returned 14.80 g/t Au over 1 m within 8 m of 2.16 g/t Au close to surface (35-43 m) (Table 1, Figure 4).
Figure 3: Drill core photos and gold grades over 1 m sample widths from the breccia body intersected in GR21-007Figure 4: Cross-section of GR21-007, view east
Holes GR21-001 and -002:
The initial drill setup for the 2021 program (Figure 5) targeted mineralization at surface that occurs within the hanging wall of a thrust fault that is part of the Late Cretaceous Waddington thrust belt developed along the eastern margin of the Coast Belt. High density veins on surface measure 2-20 cm wide and are highly fractured and disproportionately oxidized relative to the host rocks. Recovery within the deformation zone was poor, with recoveries from the uppermost parts of GR21-001 and GR21-002 being 59% from 0-45 m and 55% from 0-44 m, respectively. Vein material similar to that sampled at surface was not recovered, although the drill holes locally returned anomalous grades (e.g., 5.30 g/t Au over 1 m in GR21-002). Visual logging of drill core shows strong oxidation in recessive, low recovery zones in what are interpreted to be arsenopyrite-rich veins, and the Company believes that a significant amount of oxidized sulfide-rich vein material was washed away. Drill hole GR21-001 failed to reach target depth due to difficult drilling conditions in the highly fractured near-surface, slope-parallel host rocks. GR21-002 intercepted anomalous gold near the contacts of both the upper and lower diorite intrusions (Figure 6). Based on the low recoveries, the Company interprets that this part of the Cloud Drifter Trend has not been adequately drill tested. Future drill testing of this zone may benefit from employment of a reverse circulation (RC) drilling rig, from which better recoveries from of oxidized material may be achieved.
Figure 5: Cross-section of GR21-001 and GR21-002, view east
Holes GR21-003 and -004:
The setup for these holes (Figure 7) was collared upslope of a soil geochemical anomaly coincident with trenches yielding high-grade results from numerous quartz-sulfide veins that range in thickness between 2 and 30 cm (Figure 6). The veins are most abundant near the contacts of what is known as the upper diorite, but mineralized veins occur both within the diorite and in association with both upper and lower contacts. As a consequence, at surface the Cloud Drifter mineralized zone occurs over a relatively broad (~100 m) interval and area (Figures 2 and 5). Vein styles in drill core include both open space textures in dilation veins and laminated textures in shear veins.
Further geological descriptions of drill core and drill collar locations can be found in news releases dated September 2 and October 6, 2021.
Figure 6: Drill core photo of quartz-sulfide vein from hole GR21-003Figure 7: Cross-section of GR21-003, view east
Future Work
Results for the remaining 10 drill holes in the 2021 program are expected over the coming weeks and months. Following the release of the results the Company will focus on interpretation and 3D modeling of the oriented drill core data, with the aims of improving our understanding of the controls on mineralization and on targeting for 2022 drilling. At the Cloud Drifter Zone, much of the focus for the targeting work will be on the sulfide-cement breccia intersected in drill hole GR21-007, which bears similarities with high-grade breccias that outcrop on surface at the Langara, Standard, Day Trip, and Lost Fiddle Zones. In addition, the Company will soon receive the results of its extensive property-scale soil and rock geochemical sampling programs. Following the compilation, interpretation and release of those results, Kingfisher will develop a path toward drill targeting the most prospective anomalies.
QAQC and Core Sampling Protocols
All drillholes at the Goldrange property were 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. The total number of blanks, duplicates and CRM samples equals approximately 5% of the total samples taken.
Core samples were shipped to Acme Labs, a division of Bureau Veritas, located in Vancouver, British Columbia, for preparation and analysis. Bureau Veritas is an ISO 9000 accredited analytical laboratory and is independent of Kingfisher Metals an its Qualified Person. Samples were prepped using the PRP7-250, PUL85 and SPTPL packages and analysed for 45 major and trace elements using ICP-ES/MS (method code MA200). A 30 g split from each sample was analyzed for Au using a lead collection fire assay fusion that was digested and analyzed using AAS (method code FA430). A 30g split from samples that assayed >10 ppm Au and/or >200 ppm Ag was analyzed using a lead collection fire assay fusion with a gravimetric finish (method code FA530).
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 84,573,300 shares outstanding.
For further information, please contact:
Dustin Perry, P.Geo. CEO and Director Phone: +1 236 358 0054 E-Mail: [email protected]
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
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.
