VANCOUVER, British Columbia – August 3, 2023 – Kingfisher Metals Corp. (TSX-V: KFR) (FSE: 970) (OTCQB: KGFMF) (“Kingfisher” or the “Company”) is pleased to announce that, further to the Company’s news releases dated May 15, 2023 and July 17, 2023, it has closed its private placement financing (the “Offering”) for gross proceeds of approximately C$2.8 million through the issuance of 21,632,450 charity flow-through units at a price of C$0.12 per charity flow-through unit and 2,325,000 flow-through units at a price of C$0.10 per flow-through unit of the Company (collectively, the “Offered Units”).
Each Offered Unit is comprised of one common share of the Company (each, a “Common Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”), each of which will qualify as “flow-through shares” as defined in subsection 66(15) of the Income Tax Act (Canada) (the “Tax Act”). Each Warrant is exercisable for one Common Share at an exercise price of C$0.15 per Common Share at any time up to 24 months following the closing date of the Offering.
The aggregate gross proceeds raised from the Offering will be used, pursuant to the provisions in the Tax Act to incur, directly or indirectly, expenses (“Qualifying Expenditures”) related to the Company’s projects in British Columbia, on or before December 31, 2024, that are eligible “Canadian exploration expenses” (as defined in the Tax Act), which will qualify as “flow-through critical mineral mining expenditures” (as defined in the Tax Act) and “BC flow-through mining expenditures” as defined in the Income Tax Act (BC). The Company will renounce all the Qualifying Expenditures in favour of the applicable subscribers of the Offered Units effective December 31, 2023.
In connection with the Offering, commissions on the sale of the Offered Units were paid to eligible finders (the “Finders”) in accordance with the policies of the TSX Venture Exchange and applicable securities law. The Company paid an aggregate of C$9,059.45 in cash commissions and issued 45,000 finder warrants (the “Finder Warrants”) to the Finders. Each Finder Warrant entitles the holder thereof to acquire one Common Share at a price of C$0.15 at any time prior up to 24 months following the closing date of the Offering.
All securities issued pursuant to the Offering, including Common Shares issuable upon the exercise of Warrants or Finder Warrants, are and will be subject to a hold period of four months and one day after the date of closing of the Offering.
Certain insiders of the Company subscribed for an aggregate of 4,255,960 Offered Units for gross proceeds of $513,115.20 under the Offering. Participation by insiders of the Company in the Offering constitutes a related-party transaction as defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The issuance of securities is exempt from the formal valuation requirements of Section 5.4 of MI 61-101 pursuant to Subsection 5.5(b) of MI 61-101 as the Common Shares are listed on the TSXV. The issuance of securities is also exempt from the minority approval requirements of Section 5.6 of MI 61-101 pursuant to Subsection 5.7(1)(b) of MI 61-101 as the fair market value was less than $2,500,000.
About Kingfisher Metals Corp.
Kingfisher Metals Corp. (https://kingfishermetals.com/) is a Canadian based exploration company focused on underexplored district-scale projects in British Columbia, including the Golden Triangle region. Kingfisher has three 100% owned district-scale projects and an option to earn 100% of the HWY 37 Project, that offer potential exposure to gold, copper, silver, and zinc. The Company currently has 130,586,151 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 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 – July 17, 2023 – Kingfisher Metals Corp. (TSX-V: KFR) (FSE: 970) (OTCQB: KGFMF) (“Kingfisher” or the “Company”) announces that, further to its news release dated May 15, 2023, it has received an extension from the TSX Venture Exchange (“TSX-V”) to close its non-brokered private placement of charity flow-through units (the “Charity FT Units”) at a price of $0.12 per Charity FT Unit and flow-through units (the “FT Units” and, collectively with the Charity FT Units, the “Offered Units”) at a price of $0.10 per FT Unit for aggregate gross proceeds of up to $3.0 million (the “Offering”).
The Offering is expected to close on or about August 3, 2023, and is subject to the receipt of all necessary regulatory and other approvals, including, but not limited to, acceptance of the TSX-V. All terms of the Offering remain the same.
Field crews have mobilized to the HWY 37 Project area and have commenced preparations for camp and drill pad construction for the proposed ~2,500 m diamond drill program, which is expected to start after 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, including the Golden Triangle region. Kingfisher has three 100% owned district-scale projects and an option to earn 100% of the HWY 37 Project, that offer potential exposure to gold, copper, silver, and zinc. The Company currently has 106,628,701 shares outstanding.
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.
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 – May 15, 2023 -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 $0.12 per Charity FT Unitand flow-through units (the “FT Units” and, collectively with the Charity FT Units, the “Offered Units”) at a price of $0.10 per FT Unit for aggregate gross proceeds of up to $3.0 million (the “Offering”).
Each Offered Unit will 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 of the Offering at an exercise price of $0.15.
The Offering will be made by way of private placement in each of the provinces of Canada pursuant to applicable exemptions from the prospectus requirements.
The Company will use an amount equal to the gross proceeds received by the Company from the sale of the Offered Units, pursuant to the provisions in the Income Tax Act (Canada) (the “Tax Act”) to incur, directly or indirectly, expenses (“Qualifying Expenditures”) related to the Company’s projects in British Columbia, on or before December 31, 2024, that are eligible “Canadian exploration expenses”(as defined in the Tax Act), which will qualify as “flow-through critical mineral mining expenditures”(as defined in the Tax Act) and “BC flow-through mining expenditures” as defined in the Income Tax Act (BC). The Company will renounce all the Qualifying Expenditures in favour of the applicable subscribers of the Offered Units effective December 31, 2023.
The Offering is expected to close on or about June 8, 2023 and is subject to the receipt of all necessary regulatory and other approvals, including, but not limited to, acceptance of the TSX Venture Exchange. The Offered Securities will be subject to a hold period of four months and one day from the closing date of the Offering in accordance with applicable securities laws.
In connection with the Offering, certain arm’s-length parties may receive a cash finder’s fee payment and/or warrants to purchase common shares in the capital of the Company in consideration of securities that are sold to subscribers introduced by suchparties. Any cash finder’s fee payment and/or warrants will be subject to the approval of, and will be issued in accordance with the rules of, the TSX Venture Exchange.
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, including the Golden Triangle region. Kingfisher has three 100% owned district-scale projects and an option to earn 100% of the HWY 37 Project, that offer potential exposure to gold, copper, silver, and zinc. The Company currently has 106,628,701 shares outstanding.
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.
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, May 4, 2023 – Kingfisher Metals Corp. (TSX-V: KFR) (FSE: 970) (OTCQB: KGFMF) (“Kingfisher” or the “Company”) is pleased to provide a technical update on the HWY 37 Project that includes drill targets for the 2023 field program.
Highlights:
Targeting work includes 3D inversions of historical IP geophysical data which has outlined untested anomalies flanking the Mary porphyry deposit.
Proposed drilling (~2500 m) in 2023 will focus on the Mary to Cliff porphyry trend.
Detailed analysis of the porphyry Cu-Au potential on the project is provided in video format.
Summary
The HWY 37 Project is a district-scale (362 km2) porphyry Cu-Au and epithermal Au-Ag project located within the Golden Triangle, northwestern British Columbia.
Planning for the 2023 field season at the HWY 37 Project is currently underway and it is expected to begin in July and includes ~2500 m of diamond drilling between the Mary Cu-Au porphyry deposit and the Cliff gossan (Figure 1). This broad area sits within a ~6 by 6 km area of alteration and geochemical anomalism favourably located ~9 km from Highway 37. Texas Creek intrusions at the HWY 37 Project are also responsible for porphyry Cu-Au mineralization at Treaty Creek and KSM projects. The Company notes that mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the HWY 37 Project.
Historical work programs at Mary include 13,506 m of diamond drilling which has defined a zone of porphyry Cu-Au mineralization over 1300 m by 600 m. Drilling focused on outcrop mineralization at the Mary deposit (‘Main Zone’, or ‘Ball Creek’) with the majority of work focused on the shallow gold-rich portions of the porphyry system (Figure 2). Low angle copper and gold metal patterns are identified in the Mary deposit, which project untested under a unit interpreted as post-mineral volcanic cover. Comparable metal patterns are common to other system in the region including Treaty Creek and KSM projects.
Drilling in 2023 will focus on the lateral extents of the Mary porphyry system where the Company believes there is potential for discovering a lower level, copper-rich body. The Company recently completed a 3D inversion of historical IP geophysical data which shows a strong correlation between resistivity and historically defined mineralization (Figure 3). The target area (Figure 4) lies south of the area of historical mineralization and hosts a large (600 m by 600 m) resistive body which is open at depth. On trend and south of Mary and the resistivity target lies the Cliff gossan where mapping outlined a body of potassic-altered porphyry stockwork mineralization in outcrop.
A discussion of the drill targets at the Mary deposit as well as other targets on the HWY 37 Project is summarized in a video presentation.
Figure 3: Mary Zone: IP GeophysicsFigure 4: Mary Zone: Target Area
AuEQ values were calculated the following metal prices: Au = $1900.00/oz, Cu = $4.00/lb, and Ag = $25.00/oz. No current or historical metallurgical work has been completed on the mineral deposits within the Project and as such recoveries are assumed to be 100%. The formula used to calculate the equivalent values for the porphyry targets is AuEQ g/t = Au g/t + (Cu % * 1.4436) + (Ag g/t * 0.0132). The formula used to calculate the equivalent values for the epithermal targets is AuEQ g/t = Au g/t + (Ag g/t * 0.0132).
Qualified Person
Dustin Perry, P.Geo., Kingfisher’s CEO, is the Company’s Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects, and has prepared the technical information presented in this release.
About Kingfisher Metals Corp.
Kingfisher Metals Corp. (https://kingfishermetals.com/) is a Canadian based exploration company focused on underexplored district-scale projects in British Columbia, including the Golden Triangle region. Kingfisher has three 100% owned district-scale projects and an option to earn 100% of the HWY 37 Project, that offer potential exposure to gold, copper, silver, and zinc. The Company currently has 106,628,701 shares outstanding.
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company’s property. This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. All statements, other than statements of historical fact, are forward-looking statements or information. Forward-looking statements or information in this news release relate to, among other things: formulation of plans for drill testing; and the success related to any future exploration or development programs.
These forward-looking statements and information reflect the Company’s current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include; success of the Company’s projects; prices for gold remaining as estimated; currency exchange rates remaining as estimated; availability of funds for the Company’s projects; capital, decommissioning and reclamation estimates; prices for energy inputs, labour, materials, supplies and services (including transportation); no labour- related disruptions; no unplanned delays or interruptions in scheduled construction and production; all necessary permits, licenses and regulatory approvals are received in a timely manner; and the ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive.
The Company cautions the reader that forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements or information contained in this news release and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: risks related to the COVID-19 pandemic; fluctuations in gold prices; fluctuations in prices for energy inputs, labour, materials, supplies and services (including transportation); fluctuations in currency markets (such as the Canadian dollar versus the U.S. dollar); operational risks and hazards inherent with the business of mineral exploration; inadequate insurance, or inability to obtain insurance, to cover these risks and hazards; our ability to obtain all necessary permits, licenses and regulatory approvals in a timely manner; changes in laws, regulations and government practices, including environmental, export and import laws and regulations; legal restrictions relating to mineral exploration; increased competition in the mining industry for equipment and qualified personnel; the availability of additional capital; title matters and the additional risks identified in our filings with Canadian securities regulators on SEDAR in Canada (available at www.sedar.com). Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described, or intended. Investors are cautioned against undue reliance on forward-looking statements or information. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances.
VANCOUVER, British Columbia, March 7, 2023 – Kingfisher Metals Corp. (TSX-V: KFR) (FSE: 970) (OTCQB: KGFMF) (“Kingfisher” or the “Company”) is pleased to announce that it has entered into two option agreements on March 6, 2023 (the “Effective Date”) to consolidate a 362 km2copper-gold project in the Golden Triangle region of NW British Columbia, subject to the approval of the TSX Venture Exchange (the “TSXV”).
Highlights
Two 4-year options to earn 100% of the Ball Creek East Project and the Hank Project, now referred to as the HWY 37 Project.
Highway 37 and the Northern Transmission Line passes through the HWY 37 Project and lies within 9–15 km of main historical zones of drilling.
Multiple open ended mineral deposits including the Mary Cu-Au Porphyry, the Williams Cu-Au Porphyry, and the Hank Au-Ag Epithermal deposits.
Same mineralization age and scale of alteration as the tier one Treaty Creek-KSM-Brucejack Trend.
Limited historical drilling on project outside of known deposits despite widespread soil anomalies and gossans over 17 x 9 km porphyry-epithermal footprint.
Located within the traditional territory of the Tahltan First Nation, with a communications agreement in place.
Dustin Perry, CEO of Kingfisher, states “The consolidation of this porphyry-epithermal district represents a significant opportunity for discovery of tier one deposits of critical and precious metals. The HWY 37 Project has a distinct advantage over much of the Golden Triangle given the proximity to infrastructure crucial to any future development. Our VP-Exploration, Gayle Febbo, and our technical advisor, Charlie Greig, have both worked in the past at the comparable KSM project and Brucejack mine, as well as the HWY 37 Project location, and have extensive knowledge of the area. We look forward to commencing exploration at the HWY 37 Project in due course.”
Gayle Febbo, VP-Exploration of Kingfisher, states “The Iskut region is host to an array of Au-rich deposit types formed at various times throughout the Mesozoic, but the most productive of these was during the emplacement of Early Jurassic Texas Creek intrusions. This suite of intrusions is known to have formed the largest gold resource globally at KSM and one of the highest-grade operating gold mines at Brucejack. The HWY 37 Project represents a rare and ideal land position with both a district-scale Cu-Au porphyry belt and superimposed Au-Ag epithermal belt caused by the same suite of intrusions as KSM and Brucejack.”
About the HWY 37 Project
The 362 km2 HWY 37 Project is in Northwest British Columbia’s Golden Triangle (Figure 1). The Stewart-Cassiar Highway (37) and the 287 kV Northwest Transmission Line pass through the eastern portion of the project. The project encompasses a broad area of porphyry Cu-Au and epithermal Au-Ag mineralization and alteration.
Figure 1: HWY 37 Location
The HWY 37 Project is located (Figure 2) within the Stikine terrane of NW British Columbia and is underlain by the Stuhini and Hazelton groups. Mineralization spans porphyry to epithermal deposit types and is related to Early Jurassic Texas Creek Intrusions which are also responsible for mineralization at the Treaty Creek-KSM-Brucejack District. The northeastern part of the project is underlain by Iskut River Formation, which also host the Eskay Creek past producing mine and are favourable for VMS mineralization.
Figure 2: HWY 37 Overview
Historical work on the project has delineated three advanced deposits with several other targets and anomalies at earlier stages of exploration. Historical drilling on the project has outlined the Mary porphyry, with 13,506 m of drilling, and Williams porphyry, with 6095 m of drilling. Mary and Williams porphyries are both open in multiple directions and show distinct similarities with porphyry systems along the KSM-Treaty porphyry belt. The Hank Au-Ag epithermal deposit has seen 21,623 m of exploration drilling, albeit mostly focused within a small area within the larger 6 x 3 km gold-silver anomaly. Drilling at Hank has mostly been confined to shallow depths (<200m).
The footprint of alteration on the project is at a similar scale to the Treaty-KSM-Brucejack district (Figure 3), although exploration maturity is much younger at HWY 37.
Figure 3: HWY 37 vs Treaty-KSM-Brucejack District
Mary Porphyry
The Mary Porphyry (Figure 4) was first worked in 1963 and was most recently drilled in 2019. The porphyry deposit crops out on the north and northeast slopes of a relatively flat-topped mountain. Cu-Au patterns at Mary define marked low angle trends open along trend (Fig. 4). Although unusual globally, this unique low angle Cu-Au trend is common to porphyry systems in the region, such as the Goldstorm (Treaty) and Sulphurets (KSM) deposits. Historical drilling was confined to a small percentage of the Mary porphyry footprint and has not focused on low angle ore geometries. Along the Cu-Au trends at Mary is a ~1500 m gap in drilling extending to the Cliff showing with an untested chargeability anomaly at depth (Fig 4). The Mary Porphyry footprint spans 6 x 6 km and is cored by an untested chargeability anomaly. The dimensions of this footprint are characteristic of multiple, coalesced porphyry centres and are likely too laterally extensive to be caused by the Mary deposit alone. The area is fully permitted, and the Company is planning to complete a program of detailed mapping, geophysics, and step out drilling to test a much larger area than was historically drilled.
Figure 4: Mary Porphyry Cu-Au
Williams Porphyry
The Williams Porphyry (Figure 5) was discovered by Golden Ridge Resources Ltd. (TSX.V: GLDN) (“Golden Ridge”) in 2017 and drilled from 2018-2019. Potassic alteration crops out at surface and mineralization has been traced to a depth of ~550 m. A large continuous chargeability anomaly extends from the area of drilling to the east and southeast for over 1.5 km and is yet to be drill tested. The Williams Porphyry is considered to be the high-level porphyry feeder to the Hank Au-Ag epithermal system although based on the 6 km lateral extent to the epithermal system, it is likely that more porphyry centers exist in this area. Future drilling at Williams will focus on defining the limits of the system and vectoring towards a copper-rich core zone. Low angle metal patterns at Williams and the presence of a chargeability anomaly lateral to the Williams porphyry reflect a similar pattern as the Mary deposit and those at KSM and Treaty. These patterns suggest that future drilling will favour lateral, same elevation targeting rather than vertically deeper targets. Permitting is underway with drilling anticipated in 2024.
Figure 5: Williams Porphyry Cu-Au
Hank
The Hank epithermal Au-Ag system was first discovered in 1980 and spans over 6 x 3 km. The epithermal system has seen considerable drilling (21,663m) which has been mostly confined to shallow depths (<200m). The majority of drilling has focused on bed-parallel shallow targets with limited testing for structural feeders and steeper gold zones. The most recent drilling at Hank (2017-2019) tested deeper holes and intercepted higher grades than seen before including visible coarse gold. Of the 120 historical diamond drill holes at Hank, all were drilled in a narrow northwest-southeast geometry, and none have targeted the potential for feeders along cross-structures. Future work at Hank will focus on infill drilling across the historical areas of drilling with the goal of producing a complaint resource as well as testing additional targets and exploration concepts throughout the 6 x 3 km trend. Permitting is underway for 2024 drilling.
Figure 6: Hank Epithermal Au-Ag System
Summary of Option Agreements
Ball Creek East Project
The Company has entered into a property option agreement (the “Ball Creek East Option Agreement”) with Evrim Exploration Canada Corp., a subsidiary of Orogen Royalties Inc. (TSX.V: OGN) (“Orogen”), whereby Orogen has granted Kingfisher the right to acquire a 100% interest in a series of mineral claims located in the province of British Columbia commonly referred to as the “Ball Creek East Project” (Figure 2), subject to a 2% net smelter return to be retained by Sandstorm Gold Ltd. (the “Ball Creek East NSR Royalty”) and the right to up to $4,100,000 in milestone payments.
Pursuant to the terms of the Ball Creek East Option Agreement, Kingfisher has the right to earn a 100% ownership interest in the Ball Creek East Project as follows:
issuing common shares with a value of $300,000 on the date that the TSXV approve the Ball Creek East Option Agreement;
issuing additional common shares with a value of $400,000 on or before the date which is the 1st anniversary of the Effective Date;
issuing additional common shares with a value of $500,000 on or before the date which is the 2nd anniversary of the Effective Date;
issuing additional common shares with a value of $1,000,000 on or before the date which is the 3rd anniversary of the Effective Date;
issuing additional common shares with a value of $1,300,000 on or before the date which is the 4th anniversary of the Effective Date;
granting a 1% net smelter returns royalty to Orogen in respect of the Company’s Ecstall Property on the Effective Date; and
in order to maintain the Ball Creek East Option Agreement in good standing until exercised to earn a 100% ownership interest in the Ball Creek East Project, Kingfisher must carry out mining work on the Ball Creek East Project incurring aggregate expenditures of $7,500,000 on or before the 4th anniversary of the Effective Date.
The Company has entered into a property option agreement (the “Hank Option Agreement”) Golden Ridge whereby Golden Ridge has granted Kingfisher the right to acquire a 100% interest in a series of mineral claims located in the province of British Columbia commonly referred to as the “Hank Project” (Figure 2), subject to a 3% net smelter return to be retained by Orogen (the “Hank NSR Royalty”) and the right to US$2,500,000 in milestone payments by Golden Ridge.
Pursuant to the terms of the Hank Option Agreement, Kingfisher has the right to earn a 100% ownership interest in the Hank Project as follows:
cash payment of $25,000 and issuing common shares with a value of $75,000 on the date that the TSXV approve the Hank Option Agreement;
issuing additional common shares with a value of $150,000 on or before the date which is the 1st anniversary of the Effective Date;
issuing additional common shares with a value of $300,000 on or before the date which is the 2nd anniversary of the Effective Date;
cash payment of $100,000 and issuing additional common shares with a value of $1,000,000 on or before the date which is the 3rd anniversary of the Effective Date;
cash payment of $125,000 and issuing additional common shares with a value of $1,475,000 on or before the date which is the 4th anniversary of the Effective Date; and
in order to maintain the Hank Option Agreement in good standing until exercised to earn a 100% ownership interest in the Hank Project, Kingfisher must carry out mining work on the Hank Project incurring aggregate expenditures of $3,000,000 on or before the 4th anniversary of the Effective Date.
Pursuant to the Hank NSR Royalty, 1% may be purchased by Golden Ridge at any time with a cash payment of US$3,000,000. Also, if the Company acquires earn a 100% ownership interest in the Hank Project, then Sandstorm will be entitled to a 2% net smelter return on the Hank Project, which may be bought down by the Company by one half with a cash payment of $1,000,000.
About Kingfisher Metals Corp.
Kingfisher Metals Corp. (https://kingfishermetals.com/) is a Canadian based exploration company focused on underexplored district-scale projects in British Columbia, including the Golden Triangle region. Kingfisher has three 100% owned district-scale projects and an option to earn 100% of the HWY 37 Project, that offer potential exposure to high-grade gold, copper, silver, and zinc. The Company currently has 103,057,272 shares outstanding.
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company’s property. This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. All statements, other than statements of historical fact, are forward-looking statements or information. Forward-looking statements or information in this news release relate to, among other things: formulation of plans for drill testing; and the success related to any future exploration or development programs.
These forward-looking statements and information reflect the Company’s current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include; success of the Company’s projects; prices for gold remaining as estimated; currency exchange rates remaining as estimated; availability of funds for the Company’s projects; capital, decommissioning and reclamation estimates; prices for energy inputs, labour, materials, supplies and services (including transportation); no labour- related disruptions; no unplanned delays or interruptions in scheduled construction and production; all necessary permits, licenses and regulatory approvals are received in a timely manner; and the ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive.
The Company cautions the reader that forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements or information contained in this news release and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: risks related to the COVID-19 pandemic; fluctuations in gold prices; fluctuations in prices for energy inputs, labour, materials, supplies and services (including transportation); fluctuations in currency markets (such as the Canadian dollar versus the U.S. dollar); operational risks and hazards inherent with the business of mineral exploration; inadequate insurance, or inability to obtain insurance, to cover these risks and hazards; our ability to obtain all necessary permits, licenses and regulatory approvals in a timely manner; changes in laws, regulations and government practices, including environmental, export and import laws and regulations; legal restrictions relating to mineral exploration; increased competition in the mining industry for equipment and qualified personnel; the availability of additional capital; title matters and the additional risks identified in our filings with Canadian securities regulators on SEDAR in Canada (available at www.sedar.com). Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described, or intended. Investors are cautioned against undue reliance on forward-looking statements or information. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances.
VANCOUVER, British Columbia, February 22, 2023 – Kingfisher Metals Corp. (TSX-V: KFR) (FSE: 970) (OTCQB: KGFMF) (“Kingfisher” or the “Company”) announces drill results from the 100% owned 511 km2 Goldrange Project. Goldrange is located approximately 25 km south of the town of Tatla Lake in the Chilcotin region of Southwest British Columbia.
Highlights
Diamond drilling at eastern Cloud Drifter Zone intercepted anomalous near surface gold mineralization over 400 m of strike including 1.93 g/t over 25 m from 32 m.
The Cloud Drifter Zone’s Pad 400 Area continues to return high grade intercepts that infill previous gaps between diamond drill holes such as 15.17 g/t Au over 1 m and 10.49 g/t Au over 1 m.
Several mineralized shear zones were identified at Langara Zone through diamond drilling including 9.45 g/t Au over 1 m and 7.26 g/t Au over 1 m.
A new style of polymetallic sulfide breccia was intercepted at Langara returning 7.41 g/t Au, 81.90 g/t Ag, 0.23 % Cu, 2.22 % Pb, and 7.63 % Zn over 0.5 m.
The RAB drill at Langara Zone located the historical Langara adit in hole GRR22-033 where the hole graded 1.3 g/t Au over 7.6 m and bottomed in a void.
Deep penetrating IP survey in Cloud Drifter Zone identified two large intense chargeability anomalies at depth.
Dustin Perry, CEO of Kingfisher, states “Drilling in 2022 at the Cloud Drifter Trend identified a large hydrothermal gold system stretching close to 3 km in length. Drilling identified corridors where gold grades are markedly increased and likely represent the tops of feeder zones to the hydrothermal system. The IP survey in the eastern Cloud Drifter Zone shows two large intense chargeability anomalies at depth – one below the area of drilling and another below the historical Standard adit. These anomalies represent high priority drill targets.”
The Goldrange Project covers a significant deformation zone with numerous precious metal veins across the project. Mineralization at Goldrange occurs within the orogenic Yalakom Gold Belt, which is host to the Bridge River District that includes the past-producing Bralorne Mine. Several areas of historical hand mining are located within the project that date back to the 1930s.
The 2022 drill program (Figure 1) at the Goldrange Project was designed to follow up on the initial 2021 program as well as test a much broader area across the Cloud Drifter Trend. The 23 diamond drill holes (Tables 1-4) and six RAB drill holes (Tables 5 and 6) of the 2022 program included within this release are located at the Langara Zone of the Cloud Drifter Trend soil anomaly.
Figure 1: Diamond and RAB Drill Hole and Section Locations in the Cloud Drifter Trend
Cloud Drifter Zone Drill Results
Pad 400 Target
Ten drill holes (Figure 2) were completed at the Pad 400 target, with the results from six of those drill holes previously released, and with four included in this release. The four holes included in this release (Table 1 and 2) were completed from a single drill pad and included highlight intercepts from of 15.17 g/t Au over 1 m (Figure 4) and 10.49 g/t Au over 1 m.
Eastern Target
Ten drill holes (Figure 3) were completed at the Eastern Target totalling 1986 m. Drilling was completed from four drill pads covering 400 m in strike length. Drilling consistently intercepted shallow broad zones of low-grade gold mineralization with a highlight intercept returning 1.9 g/t Au over 25 m (Figure 5) from 32 m depth. Drill collar information and intercepts are found within Table 1 and 2.
Table 1: Diamond Drill Collars (NAD 83 – Zone 10), Cloud Drifter Zone
Hole
Easting (m)
Northing (m)
Elevation (m)
Depth (m)
Azimuth
Dip
GR22-021
388953
5705970
1450
200.3
130
55
GR22-022
388944
5705922
1478
145.1
322
56
GR22-028
388944
5705922
1478
202.4
323
71
GR22-029
388944
5705922
1478
297.2
22
56
GR22-031
388858
5705887
1492
246.9
50
55
GR22-032
388858
5705887
1492
237.1
320
65
GR22-034
388858
5705887
1492
223.0
320
85
GR22-036
388709
5705912
1464
146.1
311
56
GR22-038
388709
5705912
1464
150
301
76
GR22-039
388709
5705912
1464
137.5
30
55
GR22-040
388529
5705815
1508
223
234
77
GR22-041
388529
5705815
1508
198
333
86
GR22-042
388529
5705815
1508
202.6
238
85
GR22-043
388529
5705815
1508
250.7
232
70
Table 2: Diamond Drill Highlights, Cloud Drifter Zone
Hole
From (m)
To (m)
Interval (m)
Au g/t
Ag g/t
Cu %
GR22-021
no significant intercepts
GR22-022
28.0
67.0
39.0
0.36
–
–
incl.
28.0
51.0
23.0
0.45
–
–
GR22-028
34.4
39.4
5.0
0.45
–
–
GR22-028
44.4
49.4
5.0
0.31
–
–
GR22-028
119.4
121.4
2.0
0.41
–
–
GR22-029
24.2
34.2
10.0
0.28
–
–
GR22-031
27.0
41.0
14.0
0.26
–
–
GR22-031
94.0
109.0
15.0
0.21
–
–
GR22-031
129.0
130.0
1.0
2.67
–
–
GR22-032
32.0
57.0
25.0
1.93
–
–
incl.
34.0
43.0
9.0
4.18
–
0.13
incl.
40.0
41.0
1.0
24.57
23.27
0.65
and
54.0
56.0
2.0
3.77
–
–
GR22-032
90.0
111.0
21.0
0.31
–
–
incl.
99.0
100.0
1.0
3.52
–
–
GR22-034
27.0
45.0
18.0
0.33
–
–
incl.
37.0
42.0
5.0
0.85
–
–
GR22-034
50.0
51.0
1.0
0.58
–
–
GR22-034
92.0
94.0
2.0
1.94
–
–
GR22-034
98.0
113.0
15.0
0.61
–
–
GR22-034
104.0
105.0
1.0
6.99
14.20
0.13
GR22-034
132.0
142.0
10.0
0.24
–
–
GR22-034
156.0
157.0
1.0
0.81
–
–
GR22-036
41.0
84.0
43.0
0.32
–
–
incl.
53.0
60.0
7.0
0.89
–
–
GR22-038
46.0
65.0
19.0
0.54
–
–
incl.
56.6
65.0
8.4
0.97
–
–
GR22-039
41.0
56.0
15.0
0.17
–
–
GR22-040
169.0
171.0
2.0
3.63
–
–
Incl.
169.0
170.0
1.0
6.42
–
–
GR22-041
152.0
157.0
5.0
3.75
–
0.11
incl.
155.0
156.0
1.0
15.17
15.17
0.37
GR22-042
172.0
176.0
4.0
2.68
–
–
incl.
172.0
173.0
1.0
10.49
–
–
GR22-042
182.0
192.0
10.0
0.71
–
0.12
incl.
187.0
188.0
1.0
4.43
14.61
0.78
GR22-043
129.0
135.0
6.0
0.35
–
–
GR22-043
230.0
232.0
2.0
0.85
–
–
*True widths are not known at this time. All widths reported are drilled widths. Values <10 g/t Ag, <0.1% Cu, Pb and Zn not displayed
Figure 2: Cross section view of Pad 400 Target Area, View NorthFigure 3: Cross section view of Eastern Target Area, View NorthFigure 4: Photograph of Drillhole GR22-041, Pad 400 Target Area (15.2 g/t Au over 1 m from 155.0 m)Figure 5: Photograph of Drillhole GR22-032, Eastern Target Area (24.6 g/t Au over 1 m from 40.0 m)
Langara Zone Diamond Drill Results
Diamond drilling at the Langara Zone was completed from one pad location near the top of the ridgeline. Four holes were completed over 1594 m. Drill hole GR22-030 was aimed towards the location of the historical adit and failed to hit similar mineralization with a highlight of 3.96 g/t Au, 60.22 g/t Ag and 0.63% Cu over 1 m.
GR22-033, -035, and -037 were completed to test for down dip extensions of a vein outcrop at surface on the eastern slopes of the Langara Zone. Sulfide breccia (Figure 8), narrow veins, as well as a 12 m wide deformation zone (Figure 9) were intersected. Collar information and highlight intercepts are found within Table 3 and 4 below. Highlight intercepts are displayed on Figure 6 and 7.
Table 3: Diamond Drill Collars (NAD 83 – Zone 10), Langara Zone
Hole
Easting (m)
Northing (m)
Elevation (m)
Depth (m)
Azimuth
Dip
GR22-030
390266
5705334
1891
505.0
307
58
GR22-033
390266
5705334
1891
362.0
25
45
GR22-035
390266
5705334
1891
353.0
25
53
GR22-037
390266
5705334
1891
374.0
25
62
Table 4: Diamond Drill Highlights, Langara Zone
Hole
From (m)
To (m)
Interval (m)
Au g/t
Ag g/t
Cu %
Pb %
Zn %
GR22-030
207.0
208.0
1.0
3.96
60.22
0.63
–
–
GR22-033
157.0
158.0
1.0
3.74
17.99
0.10
0.18
–
GR22-033
202.0
205.0
3.0
3.28
–
–
–
–
incl.
204.0
205.0
1.0
9.45
25.17
0.10
–
–
GR22-033
321.3
321.8
0.5
7.41
81.90
0.23
2.22
7.63
GR22-035
154.0
156.1
2.1
1.22
–
–
–
–
GR22-035
195.0
197.0
2.0
3.71
–
–
–
–
Incl.
196.0
197.0
1.0
7.26
–
–
–
–
GR22-035
322.0
330.0
8.0
0.93
–
–
–
0.12
Incl.
322.0
326.0
4.0
1.80
11.94
–
0.11
0.24
GR22-037
360.9
363.0
2.0
0.59
–
–
–
0.26
*True widths are not known at this time. All widths reported are drilled widths. Values <10 g/t Ag, <0.1% Cu, Pb and Zn not displayed
Figure 6: Section from Langara ZoneFigure 7: Section from Langara Zone with both RAB and diamond drill holesFigure 8: Drill Core Photo Langara Zone, Hole GR23-033 (7.4 g/t Au over 0.5 m from 321.5 mFigure 9: Drill Core Photo Langara Zone, Hole GR23-035 (1.2 g/t Au over 2.1 m from 154.0 m)
Langara Zone RAB Drill Results
Six RAB drill holes were completed from one drill pad with the goal of intercepting the historical Langara adit as well as testing sheeted sulfide veins in the area of the pad. GR22-033 intersected the adit at 9.14 m and was unable to advance any further.
Table 5: RAB Drill Collars (NAD 83 – Zone 10), Langara Zone
Hole
Easting (m)
Northing (m)
Elevation (m)
Depth (m)
Azimuth
Dip
GRR22-033
390144
5705445
1767
9.1
240
55
GRR22-034
390144
5705445
1767
89.9
240
65
GRR22-035
390144
5705445
1767
88.4
197
57
GRR22-036
390144
5705445
1767
77.7
55
60
GRR22-037
390144
5705445
1767
71.6
30
60
GRR22-038
390144
5705445
1767
62.5
330
60
Table 6: RAB Drill Highlights, Langara Zone
Hole
From (m)
To (m)
Interval (m)
Au g/t
Ag g/t
Cu %
Pb %
Zn %
GRR22-033
0
7.6
7.6
1.30
29.39
0.26
–
–
GRR22-034
No significant intercepts
GRR22-035
0
4.6
4.6
0.28
–
–
–
–
GRR22-036
No significant intercepts
GRR22-037
No significant intercepts
GRR22-038
No significant intercepts
*True widths are not known at this time. All widths reported are drilled widths. Values <10 g/t Ag, <0.1% Cu, Pb and Zn not displayed
Cloud Drifter Geophysical Survey Results
Seven line-km of IP-resistivity surveying was completed on the eastern portion of the Cloud Drifter Zone over five separate lines. Two of the five lines were surveyed at wider spacings to allow for deeper penetration. Line 1450, presented in Figure 10, is one of the deeper penetrating lines, and delineates two significant IP anomalies. One of the IP anomalies is centered at depth below the GR22-036, -038, and -039. The other IP anomaly lies under the Standard Zone, which was hand mined historically, and is where Kingfisher backpack drilled 6.9 m of 10.84 g/t Au during their 2020 exploration program.
Figure 10: Chargeability along section 1450, view to east
About RAB Drilling
Kingfisher is using RAB drills as a cost effective and efficient first pass exploration tool. The RAB is a heli-portable, track mounted drill that can drill a wide range of dips (50-90°) to depths of up to 100 meters. Rock cuttings from the drill hammer are returned to surface between the outside of the rods and the open hole. Under certain conditions, cross contamination between samples is a concern. The assay results from the RAB drill provide a strong indication of the grade and thickness of gold intercepted in a given hole. Kingfisher intends to follow up encouraging RAB assay results with a diamond drill to fully quantify the grade and thickness of these mineralized intercepts.
Quality Assurance/Quality Control (QAQC)
All diamond drillholes in this release are NQ sized (47.6 mm diameter). A continuous series of one-metre-long half-split core samples was taken down the entire length of each drill hole. Sample lengths were reduced to a minimum of half a meter to avoid crossing lithologic contacts or other features deemed important by Kingfisher geologists.
Unlabelled certified reference materials (CRM) were inserted systematically throughout the sample sequence along with blanks and duplicate samples. In addition to the systematic insertion of duplicates, duplicates were also collected from conspicuously mineralized samples. Half-split core samples for duplicates were further split into quarter core samples before submission for analysis. Upon receipt of duplicate analyses, the results from each of the quarter cores were averaged before integration into the assay database. The total number of blanks, duplicates and CRM samples equals approximately 5% of the total samples taken.
RAB drill holes at the Goldrange Project are NWJ sized (2 5/8”). Samples are collected continuously from surface from each 5 ft (1.52 m) rod length. Collected sample material is put through a 1:8 riffle splitter, with the smaller portion of the sample bagged to be sent to the lab for Au Chrysos PhotonAssayTMand Au Fire Assay checks. Certified reference materials and blanks are inserted into the sample sequence every 20th sample. Duplicates were collected from every 40th sample by running the 7:8 reject material through the riffle splitter again, and collecting the 1:8 split for submission to the lab. The total number of blanks, duplicates and CRM samples equals approximately 5% of the samples submitted to the lab for analysis.
Core samples were shipped to MSALABS, located in Langley, British Columbia for preparation and analysis. MSALABS is an ISO17025 and ISO9001 accredited laboratory and is independent of Kingfisher Metals and its Qualified Person. Drill core and RAB samples were prepped using the SPL430, CRU-220 and analyzed for 48 major and trace elements with ICP-MS after a four-acid digestion (method code IMS-230). Following sample preparation, a 500 g split from each sample was sent to MSALABS Val-D’Or location for Au analysis using Chrysos PhotonAssayTM (method code CPA-Au1). Selected samples were also subjected to Au fire assay and gravimetric check assays. A 30 g split from each check assay sample was analyzed for Au using a lead collection fire assay fusion that was digested and analyzed using AA (method code FAS-111). A 30g split from the check assay samples that assayed >10 ppm Au was analyzed using a lead collection fire assay fusion with a gravimetric finish (method code FAS-415).
Qualified Person
Dustin Perry, P.Geo., Kingfisher’s CEO, is the Company’s Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects, and has prepared the technical information presented in this release.
About Kingfisher Metals Corp.
Kingfisher Metals Corp. (https://kingfishermetals.com/) is a Canadian based exploration company focused on underexplored district-scale projects in British Columbia. Kingfisher has three 100% owned district-scale projects that offer potential exposure to high-grade gold, copper, silver, and zinc. The Company currently has 103,057,272 shares outstanding.
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company’s property. This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. All statements, other than statements of historical fact, are forward-looking statements or information. Forward-looking statements or information in this news release relate to, among other things: formulation of plans for drill testing; and the success related to any future exploration or development programs.
These forward-looking statements and information reflect the Company’s current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include; success of the Company’s projects; prices for gold remaining as estimated; currency exchange rates remaining as estimated; availability of funds for the Company’s projects; capital, decommissioning and reclamation estimates; prices for energy inputs, labour, materials, supplies and services (including transportation); no labour- related disruptions; no unplanned delays or interruptions in scheduled construction and production; all necessary permits, licenses and regulatory approvals are received in a timely manner; and the ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive.
The Company cautions the reader that forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements or information contained in this news release and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: risks related to the COVID-19 pandemic; fluctuations in gold prices; fluctuations in prices for energy inputs, labour, materials, supplies and services (including transportation); fluctuations in currency markets (such as the Canadian dollar versus the U.S. dollar); operational risks and hazards inherent with the business of mineral exploration; inadequate insurance, or inability to obtain insurance, to cover these risks and hazards; our ability to obtain all necessary permits, licenses and regulatory approvals in a timely manner; changes in laws, regulations and government practices, including environmental, export and import laws and regulations; legal restrictions relating to mineral exploration; increased competition in the mining industry for equipment and qualified personnel; the availability of additional capital; title matters and the additional risks identified in our filings with Canadian securities regulators on SEDAR in Canada (available at www.sedar.com). Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described, or intended. Investors are cautioned against undue reliance on forward-looking statements or information. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances.
VANCOUVER, British Columbia, January 10, 2023 – Kingfisher Metals Corp. (TSX-V: KFR) (FSE: 970) (OTCQB: KGFMF) (“Kingfisher” or the “Company”) announces drill results from the 100% owned 511 km2 Goldrange Project. Goldrange is located approximately 25 km south of the town of Tatla Lake in the Chilcotin region of Southwest British Columbia.
Highlights
The Western Target Area has limited surface exploration due to steep terrain and returned up to 2 m of 4.4 g/t Au
The highest concentration and grade of intercepts in the Western Target Area appear to vector to the Pad 400 Target Area, with a more than 200 m gap in drilling
Similar to other drilled regions of the Cloud Drifter Trend, broad anomalous gold was intercepted often centered on focused high-grade structures
Dustin Perry, CEO states “Drilling of the Western Target Area returned anomalous gold mineralisation that increases in strength towards the center of the soil anomaly where our best results have come to date. We await results from the Eastern Target Area, the Langara Zone, and the four final holes of the program drilled near the highlight intercept of 2.9 g/t Au over 40 m in GR22-018.”
The Goldrange Project covers a significant deformation zone with numerous precious metal veins across the project. Mineralization at Goldrange occurs within the orogenic Yalakom Gold Belt, which is host to the Bridge River District that includes the past-producing Bralorne Mine. Several areas of historical hand mining are located within the project that date back to the 1930s.
The 2022 drill program (Figure 1) at the Goldrange Project was designed to follow up on the initial 2021 program as well as test a much broader area across the Cloud Drifter Trend. The five drill holes of the 2022 program (Tables 1 and 2) included within this release are located at the western boundary of the Cloud Drifter Trend soil anomaly. Remaining drill hole results from the Cloud Drifter and Langara zones are pending.
Western Target Area
Drill holes at the Western Target Area, located 200-400 m west of the Pad 400 Target Area, focused on domains of high multi-element soil geochemical anomaly coupled with a coincident conductivity and chargeability anomaly. Geological mapping in 2020 identified an Fe-oxide alteration body uphill of this soil anomaly that contains Fe-oxide veins interpreted to reflect the reaction of sulfide minerals with meteoric water and air. The Western Target Area has seen little exploration to date due to the steep nature of the terrain.
Highlight intercepts from the Western Target Area are listed in Table 1 and plotted on Figure 2.
Figure 1: Diamond Drill Hole and Section Locations in the Cloud Drifter Zone
Hole
From (m)
To (m)
Interval (m)
Au g/t
GR22-023
84.5
86.5
2
1.36
GR22-023
131.3
131.8
0.5
1.57
GR22-024
64.5
75.5
11
0.34
GR22-024
89.5
94.5
5
0.52
GR22-025
47
67
20
0.30
GR22-025
213
218
5
0.41
GR22-026
78
79
1
2.49
GR22-026
112
114
2
1.34
GR22-026
246
247
1
2.15
GR22-026
315
318
3
0.91
GR22-026
350
357
7.1
1.55
incl.
350
352
2
4.37
GR22-027
no significant intervals
*True widths are not known at this time. All widths reported are drilled widths.
Table 1: Highlight Drill Intercepts, Western Target Area
Hole
Easting (m)
Northing (m)
Elevation (m)
Depth (m)
Azimuth
Dip
GR22-023
388185
5705655
1572
252
354
57
GR22-024
388257
5705646
1583
285
333
54
GR22-025
388257
5705646
1583
348
333
74
GR22-026
388122
5705481
1700
502
30
56
GR22-027
388122
5705481
1700
498
300
55
Table 2: Diamond Drill Collars (NAD 83 – Zone 10)
Figure 2: Sections from Western Target Area
Exploration Update
A total of 29 diamond drill holes, over 7,545 m, have been completed in the Cloud Drifter Trend. Drilling at the Western Target Area included 5 holes over 1,884 meters and drilling at the Eastern Target Area included ten holes over 1,986 meters. Drilling at the Pad 400 Target Area included 2,082 m over 10 holes. Four drill holes at the Langara Zone have been completed over 1,594 meters. Results are pending for the Eastern Target Area, the Langara Zone, and four remaining holes at the Pad 400 Target Area.
Deep penetrating induced polarization (IP) geophysical surveys were completed at the Eastern Target Area at the Cloud Drifter Zone as well as at the Day Trip Zone. These surveys expand both the lateral and depth extents from previous survey coverage. Geophysical and RAB drill results will be released once final data is received.
Quality Assurance/Quality Control (QAQC)
All drillholes in this release are NQ sized (47.6 mm diameter). A continuous series of one-metre-long half-split core samples was taken down the entire length of each drill hole. Sample lengths were reduced to a minimum of half a meter to avoid crossing lithologic contacts or other features deemed important by Kingfisher’s geologists.
Unlabelled certified reference materials (CRM) were inserted systematically throughout the sample sequence along with blanks and duplicate samples. In addition to the systematic insertion of duplicates, duplicates were also collected from conspicuously mineralized samples. Half-split core samples for duplicates were further split into quarter core samples before submission for analysis. Upon receipt of duplicate analyses, the results from each of the quarter cores were averaged before integration into the assay database. The total number of blanks, duplicates and CRM samples equals approximately 5% of the total samples taken.
Core samples were shipped to MSALABS, located in Langley, British Columbia for preparation and analysis. MSALABS is an ISO17025 and ISO9001 accredited laboratory and is independent of Kingfisher and its Qualified Person. Samples were prepped using the SPL430, CRU-220 and analyzed for 48 major and trace elements with ICP-MS after a four-acid digestion (method code IMS-230). Following sample preparation, a 500 g split from each sample was sent to MSALABS Val-D’Or location for Au analysis using Chrysos PhotonAssayTM (method code CPA-Au1). Selected samples were also subjected to Au fire assay and gravimetric check assays. A 30 g split from each check assay sample was analyzed for Au using a lead collection fire assay fusion that was digested and analyzed using AA (method code FAS-111). A 30g split from the check assay samples that assayed >10 ppm Au was analyzed using a lead collection fire assay fusion with a gravimetric finish (method code FAS-415).
Qualified Person
Dustin Perry, P.Geo., Kingfisher’s CEO, is the Company’s Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects, and has prepared the technical information presented in this release.
About Kingfisher Metals Corp.
Kingfisher Metals Corp. (https://kingfishermetals.com/) is a Canadian based exploration company focused on underexplored district-scale projects in British Columbia. Kingfisher has three 100% owned district-scale projects that offer potential exposure to high-grade gold, copper, silver, and zinc. The Company currently has 103,057,272 shares outstanding.
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company’s property. This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. All statements, other than statements of historical fact, are forward-looking statements or information. Forward-looking statements or information in this news release relate to, among other things: formulation of plans for drill testing; and the success related to any future exploration or development programs.
These forward-looking statements and information reflect the Company’s current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include; success of the Company’s projects; prices for gold remaining as estimated; currency exchange rates remaining as estimated; availability of funds for the Company’s projects; capital, decommissioning and reclamation estimates; prices for energy inputs, labour, materials, supplies and services (including transportation); no labour- related disruptions; no unplanned delays or interruptions in scheduled construction and production; all necessary permits, licenses and regulatory approvals are received in a timely manner; and the ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive.
The Company cautions the reader that forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements or information contained in this news release and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: risks related to the COVID-19 pandemic; fluctuations in gold prices; fluctuations in prices for energy inputs, labour, materials, supplies and services (including transportation); fluctuations in currency markets (such as the Canadian dollar versus the U.S. dollar); operational risks and hazards inherent with the business of mineral exploration; inadequate insurance, or inability to obtain insurance, to cover these risks and hazards; our ability to obtain all necessary permits, licenses and regulatory approvals in a timely manner; changes in laws, regulations and government practices, including environmental, export and import laws and regulations; legal restrictions relating to mineral exploration; increased competition in the mining industry for equipment and qualified personnel; the availability of additional capital; title matters and the additional risks identified in our filings with Canadian securities regulators on SEDAR in Canada (available at www.sedar.com). Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described, or intended. Investors are cautioned against undue reliance on forward-looking statements or information. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances.
All five (5) of the nominees listed in Kingfisher’s management information circular dated November 17, 2022, that were proposed by management for election to the board of directors at the Meeting were duly elected. The directors will remain in office until the next annual meeting of the Company’s shareholders or until their successors are elected or appointed.
The results of the vote on the election of the directors at the Meeting are as follows:
Nominee
For
% For
Withheld
% Withheld
Dustin Perry
32,315,096
99.92
25,423
0.08
David Loretto
32,198,525
99.56
141,994
0.44
Giuseppe (Pino) Perone
32,313,525
99.92
26,994
0.08
Chris Beltgens
32,329,686
99.97
10,833
0.03
Richard Trotman
32,181,686
99.51
158,833
0.49
Appointment of Auditors
Shareholders reappointed De Visser Gray LLP as auditor of the Company for the upcoming year and authorized the directors of the Company to fix the remuneration of the auditor.
Approval of Stock Option Plan
The Company’s incentive stock option plan, and amendments thereto, were approved by shareholders with 99.95% of shares represented at the Meeting voting in favour.
About Kingfisher Metals Corp.
Kingfisher Metals Corp. (https://kingfishermetals.com/) is a Canadian based exploration company focused on underexplored district-scale projects in British Columbia. Kingfisher has three 100% owned district-scale projects that offer potential exposure to high-grade gold, copper, silver, and zinc. The Company currently has 103,057,272 shares outstanding.
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
Statements contained in this release that are not historical facts are forward-looking statements that involve various risks and uncertainty affecting the business of Kingfisher. In making the forward-looking statements, Kingfisher has applied certain assumptions that are based on information available, including Kingfisher’s strategic plan for the near and mid-term. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Kingfisher does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
VANCOUVER, British Columbia, November 9, 2022 – Kingfisher Metals Corp. (TSX-V: KFR) (FSE: 970) (OTCQB: KGFMF) (“Kingfisher” or the “Company”) is pleased to announce the results of rotary air blast (“RAB”) drilling, and surface geochemical and ground geophysical surveys at the 100% owned 511 km2 Goldrange Project. Goldrange is located approximately 25 km south of the town of Tatla Lake in the Chilcotin region of Southwest British Columbia.
Highlights
The Day Trip Zone is 5 km from the Cloud Drifter Zone and these results represent the first modern exploration efforts at this zone.
Gold anomalism is analogous to horizontal gold trends in 2021 drill results from the upper Cloud Drifter Zone, which lie spatially above high-grade feeders identified in 2022 (NR link).
Highlight intercepts include 2.7 g/t Au over 4.6 m in GRR-22-023, 0.5 g/t Au over 12.2 m in GRR-22-27, 2.1 g/t Au over 4.6 m in GRR-22-026, and 0.8 g/t Au over 9.1 m in GRR-22-013.
Shallow gold intercepts are open laterally and at depth, with an overall dip in geometry toward the west where 2022 rock sampling returned grades up to 49.8 g/t Au and extended the geochemical footprint 1 km to the west.
Induced Polarization (IP) geophysical survey identified several strong chargeability and conductivity anomalies over 2 km; two sizeable diamond drill targets were identified from coincident chargeability-conductivity anomalies at depths below RAB drill capabilities.
Dustin Perry, CEO states “Initial shallow RAB drilling at Day Trip shows a broad zone of open-ended gold anomalism over 1 km associated with strong chargeability and conductivity anomalies that stretch nearly 2 km. Early indications point to there potentially being a significant gold system that will need subsequent drilling to the west and at depth.” Day Trip Zone Overview
Kingfisher commenced the first-ever drill program at the Day Trip Zone with a RAB drill rig in May 2022. The initial 27 holes (Table 1) focused on a ~300 m by 200 m area at shallow depths of less than 78 m.
The Day Trip Zone covers a rounded mountain top approximately 5 km southeast of the Cloud Drifter Trend (Figures 1 and 2). The target is situated between two interpreted fault splays off the regional Ottarasko Fault. High-density intrusive-hosted veins, up to 2 m in width, occur over an area ~100 m by 400 m. Quartz veins from this area returned grades from below detection limit to 6.7 g/t Au over 2 m. Adjacent to the intrusion is a ~70 m x 90 m area of arsenopyrite-cement breccia in subcrop (Figure 1). Approximately 20% of the subcrop material in this area consists of arsenopyrite-cement breccia and rocks grade from 3.4 to 20.1 g/t Au. Talus fines sampling in 2020 and 2021 outlined a broad area of gold anomalism coincident with areas of gold in outcrop and subcrop that grades up to 8.4 g/t Au. Rock and talus fines geochemistry both yield a strong multi-element signature of As, Ag, Cu, Bi, Te, Sb, Zn and Pb associated with Au.
Figure 1. Day Trip Zone RAB Drill Results and Section LocationsFigure 2: Day Trip Zone Aerial View to Southeast
RAB Drill Results
The purpose of the Day Trip RAB drill program was to identify location and geometry of anomalous gold sampled on surface. The RAB holes tested shallow extents of the target over a 250×200 m area. Broad anomalous gold is shallow or at surface and was intercepted in all but the most southerly pad, which failed to reach target depth. Gold anomalism in the sedimentary-hosted, western holes defines a 20 degree west-dipping layer that parallels bedding. Gold intercepts in the intrusive-hosted western holes are interpreted to dip steeply east, similar to the veins on surface. The overall vein geometry from surface coupled with the gold intercepts, projects toward a large conductive and chargeability anomaly (Figure 5).
The feeder to the sulfide breccia rubble identified on surface and the subhorizontal gold pattern near surface is interpreted to be rooted in an easterly fault zone to the south of the RAB drill area. One pad attempted to drill through this structure into the interpreted feeder (GRR-22-30, -31, 32), but was unable to cross the structure due to difficult conditions.
Hole*
From (m)
To (m)
Interval (m)
Au (g/t)
GRR-22-011
4.57
9.14
4.57
0.52
GRR-22-012
7.62
16.76
9.14
0.43
GRR-22-013
0.00
9.14
9.14
0.79
GRR-22-014
0.00
9.14
9.14
0.56
GRR-22-016
0.00
9.14
9.14
0.54
GRR-22-019
4.57
27.43
22.86
0.22
GRR-22-023
10.67
15.24
4.57
2.70
Incl.
10.67
12.19
1.52
6.81
GRR-22-025
25.91
41.15
15.24
0.50
GRR-22-026
4.57
9.14
4.57
2.06
GRR-22-027
13.72
25.91
12.19
0.48
GRR-22-029
0.00
22.86
22.86
0.27
*True widths are not known at this time. All widths reported are drilled widths. Drill holes not listed between GRR-22-001 to GR-22-032 report no significant intercepts
Table 1. RAB Drill Hole Results
Hole
Easting (m)
Northing (m)
Elevation (m)
Depth (m)
Azimuth
Dip
GRR-22-001
392313
5702390
2274
70.10
162
70
GRR-22-002
392311
5702391
2274
82.30
247
55
GRR-22-003
392311
5702393
2275
56.39
300
55
GRR-22-004
392313
5702394
2275
65.53
345
55
GRR-22-005
392314
5702394
2275
71.63
20
55
GRR-22-006
392296
5702432
2280
36.58
162
55
GRR-22-007
392295
5702432
2280
13.72
210
55
GRR-22-008
392264
5702379
2273
82.30
15
70
GRR-22-009
392262
5702376
2272
41.15
247
55
GRR-22-010
392264
5702375
2272
19.81
160
55
GRR-22-011
392266
5702377
2273
44.20
90
55
GRR-22-012
392264
5702377
2272
19.81
0
90
GRR-22-013
392278
5702407
2279
67.06
0
90
GRR-22-014
392278
5702406
2278
45.72
90
65
GRR-22-015
392278
5702407
2278
16.76
247
60
GRR-22-016
392278
5702407
2279
54.86
20
60
GRR-22-017
392254
5702346
2271
41.15
30
80
GRR-22-018
392218
5702361
2271
54.86
247
80
GRR-22-019
392218
5702361
2271
57.91
69
70
GRR-22-020
392190
5702458
2276
60.96
248
55
GRR-22-021
392190
5702458
2276
51.82
248
70
GRR-22-022
392140
5702442
2266
36.58
248
65
GRR-22-023
392140
5702442
2266
39.62
248
90
GRR-22-024
392080
5702424
2246
74.68
68
70
GRR-22-025
392080
5702424
2244
64.01
248
65
GRR-22-026
392064
5702395
2236
77.72
247
60
GRR-22-027
392064
5702395
2236
70.10
190
60
GRR-22-028
392181
5702401
2266
18.92
247
70
GRR-22-029
392181
5702401
2266
22.80
0
90
GRR-22-030
392307
5702283
2272
28.96
68
58
GRR-22-031
392307
5702283
2272
36.58
141
60
GRR-22-032
392307
5702283
2272
30.48
148
90
Table 2. RAB Drill Hole Locations (NAD83, Zone 10).
A deep penetrating Induced Polarization (IP) survey was conducted to prepare for deeper diamond drilling targeting. The survey was extended more than 1100 m west of the original survey and target area due to the discovery of high-grade gold in outcrop ~1 km from the RAB drill area. The geophysical survey identified two large conductive anomalies beneath the RAB drill area and to the west. Conductivity can be associated with sulfide breccias and veins and related alteration. Numerous chargeability anomalies were also identified throughout the survey area. Chargeability highs can be caused by the presence of disseminated sulfides.
The highest quality geophysical targets are where both chargeability and conductivity are anomalous. The area of RAB drilling confirmed the coincidence between hydrothermal alteration, elevated sulfide abundance and anomalous gold with chargeable rocks. Two anomalies are yet to be tested where chargeability and conductivity are both anomalous: 1) at depth below the RAB drill area, and 2) at depth below the new outcrop discovery ~1 km to the west where rocks returned up to 49.8 g/t Au.
Figure 4. Long IP Section 3600 Geophysical and RAB Drill ResultsFigure 5. Long IP Section 3700 Geophysical and RAB Drill Results
Rock Sampling Results
Highly weathered sulfide rubble was located ~1km west of the area of drilling and was followed up with hand trenching that led to the discovery of an outcropping sulfide vein up to 50 cm wide and grading up to 49.8 g/t Au over 0.5 m. Sulfide mineralization includes arsenopyrite, stibnite, boulangerite, and chalcopyrite. Samples show a strong correlation with Ag, Cu, Pb, Sb, Bi, and Te. Results are shown in Table 3.
Sample No
Width (cm)
Au (g/t)
Ag (g/t)
Cu (%)
Pb (%)
Sb (%)
Bi (ppm)
Te (ppm)
c0135801
50
7.05
52.91
0.14
0.10
0.30
388.85
11.55
c0135802
30
17.29
78.77
0.06
0.42
0.38
73.55
5.76
c0135803
15
10.97
6.28
0.01
0.09
0.05
38.83
1.04
c0135804
50
49.78
51.47
0.13
0.07
0.21
547.49
11.18
c0135805
15
18.13
43.24
0.16
0.24
0.18
333.38
11.46
c0135806
10
0.16
19.71
0.70
0.00
0.01
17.49
1.79
Table 3: 2021 Rock Sampling Results
About RAB Drilling
Kingfisher is using RAB drills as a cost effective and efficient first pass exploration tool. The RAB is a heli-portable, track mounted drill that can drill a wide range of dips (50-90°) to depths of up to 100 meters. Rock cuttings from the drill hammer are returned to surface between the outside of the rods and the open hole. Under certain conditions, cross contamination between samples is a concern. The assay results from the RAB drill provide a strong indication of the grade and thickness of gold intercepted in a given hole. Kingfisher intends to follow up encouraging RAB assay results with a diamond drill to fully quantify the grade and thickness of these mineralized intercepts.
QAQC
Grab and chip rock samples are selective by nature and values reported in this news release may not be representative of mineralized zones. Blank and unlabeled certified reference materials (CRM) were inserted into the sample sequence every 20th sample.
RAB drill holes at the Goldrange Project are NWJ sized (2 5/8”). Samples are collected continuously from surface from each 5 ft (1.52 m) rod length. Collected sample material is put through a 1:8 riffle splitter, with the smaller portion of the sample bagged to be sent to the lab for Au Chrysos PhotonAssayTMand Au Fire Assay checks. Certified reference materials and blanks are inserted into the sample sequence every 20th sample. Duplicates were collected from every 40th sample by running the 7:8 reject material through the riffle splitter again, and collecting the 1:8 split for submission to the lab. The total number of blanks, duplicates and CRM samples equals approximately 5% of the samples submitted to the lab for analysis.
RAB and rock chip samples were shipped to MSALABS, located in Langley, British Columbia for preparation and analysis. MSALABS is an ISO17025 and ISO9001 accredited laboratory and is independent of Kingfisher Metals and its Qualified Person. Samples were prepped using the SPL430, CRU-220. Rock chip samples were then analyzed for 48 major and trace elements with ICP-MS after a four-acid digestion (method code IMS-230). Following sample preparation, a 500 g split from each sample was sent to MSALABS Val-D’Or location for Au analysis using Chrysos PhotonAssayTM (method code CPA-Au1). Selected samples were also subjected to Au fire assay and gravimetric check assays. A 30 g split from each check assay sample was analyzed for Au using a lead collection fire assay fusion that was digested and analyzed using AA (method code FAS-111). A 30g split from the check assay samples that assayed >10 ppm Au was analyzed using a lead collection fire assay fusion with a gravimetric finish (method code FAS-415).
Qualified Person
Dustin Perry, P.Geo., Kingfisher’s CEO, is the Company’s Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects, and has prepared the technical information presented in this release.
About Kingfisher Metals Corp.
Kingfisher Metals Corp. (https://kingfishermetals.com/) is a Canadian based exploration company focused on underexplored district-scale projects in British Columbia. Kingfisher has three 100% owned district-scale projects that offer potential exposure to high-grade gold, copper, silver, and zinc. The Company currently has 103,057,272 shares outstanding.
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company’s property. This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. All statements, other than statements of historical fact, are forward-looking statements or information. Forward-looking statements or information in this news release relate to, among other things: formulation of plans for drill testing; and the success related to any future exploration or development programs.
These forward-looking statements and information reflect the Company’s current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include; success of the Company’s projects; prices for gold remaining as estimated; currency exchange rates remaining as estimated; availability of funds for the Company’s projects; capital, decommissioning and reclamation estimates; prices for energy inputs, labour, materials, supplies and services (including transportation); no labour- related disruptions; no unplanned delays or interruptions in scheduled construction and production; all necessary permits, licenses and regulatory approvals are received in a timely manner; and the ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive.
The Company cautions the reader that forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements or information contained in this news release and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: risks related to the COVID-19 pandemic; fluctuations in gold prices; fluctuations in prices for energy inputs, labour, materials, supplies and services (including transportation); fluctuations in currency markets (such as the Canadian dollar versus the U.S. dollar); operational risks and hazards inherent with the business of mineral exploration; inadequate insurance, or inability to obtain insurance, to cover these risks and hazards; our ability to obtain all necessary permits, licenses and regulatory approvals in a timely manner; changes in laws, regulations and government practices, including environmental, export and import laws and regulations; legal restrictions relating to mineral exploration; increased competition in the mining industry for equipment and qualified personnel; the availability of additional capital; title matters and the additional risks identified in our filings with Canadian securities regulators on SEDAR in Canada (available at www.sedar.com). Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described, or intended. Investors are cautioned against undue reliance on forward-looking statements or information. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances.
