Kingfisher Announces Commencement of Drill Program at HWY 37 Project in the Golden Triangle, BC
Kingfisher Announces Commencement of Drill Program at HWY 37
Project in the Golden Triangle, BC
VANCOUVER, British Columbia, August 14, 2023 – Kingfisher Metals Corp. (TSX -V: KFR) (FSE: 970)
(OTCQB: KGFMF) (“Kingfisher” or the “Company”) is pleased to announce diamond drilling has begun at
the HWY 37 Project for the planned ~2500 m drill program. The project is located in Northwest British
Columbia within the Golden Triangle.
Highlights
• Drill test of the Cliff porphyry target follows-up on untested significant stockwork on surface
adjacent to a single historical drill hole that bottomed in 0.11 % Cu over 8 1 m (Hole BC06-
01) in flanking alteration.
• Sampling by Kingfisher in 2023 returned 1.70% Cu from the Cliff porphyry stockwork body.
• First-ever test of Mary Root Zone target, a large alteration expression cored by a coincident
chargeability-resistivity geophysical anomaly on trend with Cliff porphyry.
• Drilling south along trend from the Mary deposit targets open mineralization adjacent to
hole BCK-MZ-19-01 with 0.48 g/t Au and 0.14% Cu over 291.5 m.
Dustin Perry, CEO states “We are beginning an exciting drill program at the relatively underexplored HWY
37 Project within the prolific Golden Triangle. This program is focused on new copper -rich porphyry
discoveries with drilling at the untested Cliff stockwork body and the Mary Root Zone which are part of a
large 6x6 km alteration zone that includes the Mary deposit. Drilling will also focus on expanding the
footprint of the Mary deposit.”
The ~2500 m diamond drill program at the HWY 37 Project is currently underway with initial drilling at the
Cliff porphyry target. The drill contractor is Konaleen Drilling, a Tahltan based company.
Cliff Porphyry Drill Target
The Cliff porphyry is part of a ~4 km-long Cu-Au-Ag-Mo soil anomaly on trend with the Mary deposit and is
the first drill target of the program . Two creek gullies in the core of the soil anomaly (Fig ure. 1) provide
narrow exposures of copper -bearing stockwork. Mapping delineated a >200 m trace in the western gully
and >100 m trace in the eastern creek. The sto ckwork body is host to 5-30% by volume veins of magnetic
K-feldspar-biotite-magnetite-quartz-chalcopyrite-pyrite-galena. Kingfisher sampled the stockwork on
surface (Sample C0144155, Fig ure 1) returning 1.70% Cu, 0.04 g/t Au, 26.93 g/t Ag, 58.4 ppm Mo.
Historical rocks in the stockwork grade up to 0.7% Cu.
Figure 1: Cliff Porphyry Drill Target
Only one historical drillhole at Cliff porphyry (Hole BC06 -01) collared east of the stockwork body (Figures
1&2). The hole bottomed in 0.11% Cu over 80.62 m, where quartz-sulfide veins increase to 2-5% by volume.
The stockwork body mapped on surface hosts a higher volume of veins (5-30%) and was not tested by hole
BC06-01.
This stockwork body lies above a large, untested magnetic anomaly (Figure 2). Hole BC06-01 bottomed in
0.11% Cu over 80.62 m but did not intersect the intense zone of stockwork outlined in Figure 1. The bottom
of BC06-01 is ~170 m from a large magnetic anomaly.
Figure 2: Cliff Magnetic Anomaly
Mary Root Zone Geophysical Target
Between the Mary and Cliff porphyry centres is an untested large alteration expression cored by a
coincident chargeability-resistivity geophysical anomaly (Figure 3). Gold grade at Mary is coincident with a
resistivity high, draped around a subvertical chargeability anomaly. Highest relative copper grade is hosted
along the upper boundary and within the core of the chargeability anomaly. The Mary Root Zone target
similarly hosts a subvertical chargeability anomaly enclosed by a resistivity anomaly with continuity to the
Mary deposit.
A conceptual root zone is inferred to have high relative copper compared Mary due to the deeper level. The
geophysical anomaly indicates that the root zone target is larger in vertical and lateral scale than Mary.
Figure 3: Mary Root Zone Target
Mary Deposit Step-out
The upper levels of the Mary deposit are marked by open -ended low angle metal patterns in Au and Cu.
Deeper drill delineation below the Mary deposit is limited to one hole along the northeastern flanks of the
deposit. The projection of the low angle metal patterns remain s untested to the west, south and east. The
at-depth extent of the system below the low angle metal pattern is tested by just one hole (BC12 -47) that
drilled ~130 m to the north of the top three intercepts, all located in the southern drilled extent.
One step-out hole is planned to test the southern continuation of the Cu -Au intercepts. Delineating the full
lateral extent of the upper metal patterns is key to future targeting of the at -depth projection of metal
patterns. The planned hole follows-up on a drillhole from 2019, which intersected 0.5 g/t Au, 0.1% Cu over
291.5 m from 15.5 m (BCK-MZ-19-01).
Options Issuance
Kingfisher also announces the grant of 3,650,000 stock options that are exercisable for a period of five
years at a price of $0.12 per share to its directors, officers, various staff members, and an investor relations
consultant (Adelaide Capital Markets Inc.).
Quality Assurance/Quality Control (QAQC)
Rock 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 PRP -915 and analyzed for 48 major and trace
elements with ICP-MS after a four-acid digestion (method code IMS -230). A 30 g split from assay sample
was analyzed for Au using a lead collection fire assay fusion that was digested and analyzed using AA
(method code FAS-111). Overlimit (>10,000 ppm) copper was determined using a 0.2 gram sample, four -
acid digestion and ICP-AES finish (method core ICF-230).
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, inc luding 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.
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.
Cautionary Note Regarding Forward-Looking Statements
Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization
hosted on the Company’s property. This news release contains forward-looking statements, which relate to
future events or future performance and reflect management’s current expectations and assumptions. Such
forward-looking statements reflect management’s current beliefs and are based on assumptions made by
and information currently available to the Company. All statements, other than statements of historical fact,
are forward -looking statements or information. Forward -looking statements or information in this news
release relate to, among other things: formulation of plans for drill testing; and the success related to any
future exploration or development programs.
These forward -looking statements and information reflect the Company’s current views with respect to
future events and are necessarily based upon a number of assumptions that, while considered reasonable
by the Company, are in herently 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 estim ated; 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 agains t 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 t hem to reflect new events or
circumstances.