Kingfisher Commences Diamond Drilling Program at Goldrange Project
Kingfisher Commences Diamond
Drilling Program at Goldrange
Project
VANCOUVER, BC / ACCESSWIRE / June 14, 2022 / Kingfisher Metals Corp. (TSX-
V:KFR) (FSE:970) (OTCQB:KGFMF) ("Kingfisher" or the "Company") is pleased to
announce the commencement of diamond drilling at the 100% owned 511
km2 Goldrange Project. Goldrange is located approximately 25 km south of the town of
Tatla Lake in the Chilcotin region of Southwest British Columbia.
Highlights
• An expanded and fully funded program of up to 10,000 m of diamond drilling.
• Step out drilling of near-surface breccia targets in the Cloud Drifter Zone that
graded up to 73.4 g/t Au over 1 m and 6.9 g/t Au over 9 m in the Pad 400 target
area.
• First-ever drilling of robust multi-element geochemical anomalies at the Cloud
Drifter Zone on exploration trend with high-grade Au intercepts from 2021.
• Day Trip, Langara, and Standard zones will see first-ever diamond drill holes
contingent upon positive RAB drill results.
Dustin Perry, CEO states "Our second drill program will begin at the Cloud Drifter Zone
and see shallow target follow-up drilling as well as the very first drill tests of two
exciting gold targets within the zone. Drill results from last year identified high-grade
gold along these easterly and north-easterly exploration trends in the lower (northern)
mountain. This year, our drill targeting will focus on delineating feeder structures in the
lower mountain responsible for widespread gold anomalism intercepted in the upper
(southern) Cloud Drifter drill holes. Additionally, we are allocating about a third of our
program to follow up on results at Day Trip, Langara, and Standard zones from our
ongoing RAB drill program."
Figure 1. Diamond Drilling Target Areas
Overview
Last year Kingfisher drill tested approximately 10% of the Cloud Drifter Trend in the
first-ever drill program on the 511 km2 project. The 2021 drill results indicated the
presence of a large hydrothermal system with broad gold anomalism throughout and
multiple high-grade intervals discovered by drilling in areas of forest cover.
Geological interpretations identify four target types at Cloud Drifter: 1) high-grade gold
in steep shears, such as 73.40 g/t Au over 1 m in hole GR22-014; 2) complex structural
zones and associated high-grade feeder breccia bodies, such as 6.88 g/t over 9 m in
hole GR22-007; 3) quartz diorite hosted homogenous (disseminated and stockwork)
mineralization styles that are yet to be tested with drilling; and 4) broad gold
anomalism along subhorizontal lithological boundaries, such as 16 m of 0.60 g/t Au in
GR22-004.
The 2022 drill strategy at Cloud Drifter is two-part: with both step out holes and new
exploration holes planned. Step out drill holes will follow-up on high-grade intervals
(e.g., 6.88 g/t Au in hole GR22-007 and 73.40 g/t Au in hole GR22-014; Figure 2).
Structural interpretations indicate a common structural trend along these two intercepts
that also coincides with a surface sample of 128.9 g/t Au.
Pad 400 Target Area
An important structural trend in the lower Cloud Drifter Zone correlates with multiple
high-grade Au intercepts in 2021 drill holes. The structure strikes easterly and dips
moderately south (Figure 2). The structural expression is more than 25 m true
thickness, which also coincides with a coincident chargeability-conductivity geophysical
anomaly. The high-grade Au intercepted along the structure (see Figure 2) is separated
by 100 m and 60 m of true distance along the structure, and the there are no holes
which test the deeper extents. Drilling in this area will test the potential for lateral and
down-dip continuity of high-grade gold along the structure.
Figure 2. Pad 400 Target Area
Figure 3. Mineralization Style Pad 400 Target Area
Eastern Target Area
Initial exploration holes outboard of the Pad 400 Target Area will target previously
untested geochemical, and geophysical anomalies located up to 450 m east (Figure 4)
and 650 m west (Figure 6) from 2021 drill collars. At the Eastern Target Area (Figure
4), mapping and rock sampling of limited rock exposures in forest cover indicate the
presence of both a high sulfide and a high vein density domain with homogeneous
mineralization textures (Figure 5). Stockwork and disseminated mineralization styles in
rocks in this area grade up to 9.7 g/t Au and coincide with strong multi-element (Au,
Ag, As, Cu, Bi, Te, Sb, Zn, Mo, W) anomalism in soil geochemistry. Based on the
homogeneous textures and consistent vein densities, there is potential for continuity of
grade laterally between outcrops and vertically at depth.
Figure 4. Eastern Target Area
Figure 5. Homogeneous Mineralization Style in Eastern Target Area
Western Target Area
Planned holes at the Western Target Area (Figure 6) will target the highest multi-
element soil geochemical anomaly (Au, Ag, Cu, Zn, Pb, Sb, Bi, Te, W) in the Cloud
Drifter Zone coupled with a coincident conductivity and chargeability anomaly.
Geological mapping in 2020 identified an Fe-oxide alteration body uphill of this soil
anomaly (Figure 6). This alteration domain hosts abundant Fe-oxide veins (Figure 7)
interpreted to reflect the reaction of sulfide minerals with meteoric water and air. One
of the samples with the least Fe-oxide and most primary sulfide graded 21.4 g/t Au.
The Western Target Area has seen little exploration to date due to the steep nature of
the terrain, yet it is large in scale and exploration potential. It will be initially tested with
relative long drill holes to transect the broad Fe-oxide alteration on the slope.
Figure 6. Western Target Area
Figure 7. Western Target Area Fe-oxide Alteration
Options Grant
The Company also announces the grant of 2,000,000 stock options exercisable for a
period of five years at a price of C$0.30 per share to various directors, officers, and
employees. The options will be subject to deferred vesting over one year and is part of
Kingfisher's ongoing strategy of granting stock options to attract and retain talent.
Qualified Person
Dustin Perry, P.Geo., Kingfisher's CEO, is the Company's Qualified Person as defined by
National Instrument 43-101, Standards of Disclosure for Mineral Projects, and has
prepared the technical information presented in this release.
About Kingfisher Metals Corp.
Kingfisher Metals Corp. (https://kingfishermetals.com/) is a Canadian based exploration
company focused on underexplored district-scale projects in British Columbia. Kingfisher
has three 100% owned district-scale projects that offer potential exposure to high-
grade gold, copper, silver, and zinc. The Company currently has 103,007,272 shares
outstanding.
For further information, please contact:
Dustin Perry, P.Geo.
CEO and Director
Phone: +1-778-606-2507
E-Mail: [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