Kingfisher Outlines Six New Drill-Ready Porphyry Cu-Au Drill Targets at HWY 37 Project in the Golden Triangle, BC
Kingfisher Outlines Six New Drill-Ready Porphyry Cu-Au Drill Targets at
HWY 37 Project in the Golden Triangle, BC
VANCOUVER, British Columbia, November 12, 2024 – Kingfisher Metals Corp. (TSX-V: KFR) (FSE: 970)
(OTCQB: KGFMF) (“Kingfisher” or the “Company”) is pleased to report new drill targets generated from the
2024 field program at the HWY 37 Project in the Golden Triangle, British Columbia.
SIX NEW DRILL TARGETS:
1. Williams Porphyry Cu-Au Target
• IP survey outlines and refines a chargeability anomaly (> 25 mV/V) measuring 2200 m by
1500 m to depths of over 1000 m and up to 212 mV/V below and lateral to the Williams
deposit.
• The anomaly is host to open-ended intercepts such as up to 0.33% Cu and 0.39 g/t Au over 347
m including 0.56 % Cu and 0.69 g/t Au over 127 m.
• Proposed drill tests will explore the chargeability anomaly to identify more upper-level stocks where
grade is closely tied to porphyry host and to test deeper levels with potential for elevated Cu in
bornite.
2. Lower Hank Porphyry Cu-Au Target
• Lower Hank porphyry target anomaly measures 1600 m by 800 m greater than 35 mV/V to a
depth of 850 m with peak values of 86 mV/V with the closest historical drill hole returning 342 m
of 0.33 g/t Au and 3.9 g/t Ag.
• Proposed drill tests will focus on source porphyry intrusions within the chargeable body, known to
be associated with rapid grade change at the nearby Williams deposit.
3. Upper Hank Porphyry Cu-Au Target
• Upper Hank porphyry target anomaly measures 1500 m by 800 m greater than 35 mV/V to a
depth of 850 m with peak values of 129 mV/V with high-grade epithermal mineralization at Pit
deposit up to 20 m of 11.63 g/t Au and 13.8 g/t Ag located above anomaly.
• Evidence for telescoped system where epithermal gold superimposed on porphyry Cu -Au in close
vertical proximity.
• Proposed drilling at the Upper Hank anomaly will test the projection of epithermal gold systems
(intermediate and high sulfidation) at surface into the porphyry target at depth .
4. ME Porphyry Cu-Au Target
• First-ever IP survey of the broad Cu-Au-Ag-Mo anomaly at ME outline s anomalous chargeability
(>24 mV/V) across full length of line focused on mapped porphyry target.
• Proposed drill tests will focus on the largest at -surface subvertical anomaly to target porphyry Cu-
Au, and a second at -surface low angle anomaly associated with Au -Pb-Zn anomalism as a vein
target.
5. Mary Porphyry Cu-Au Target
• A new 3D inversion product of coupled historical and new IP provide high resolution of a largely
untested chargeability anomaly below Mary deposit that swells from 350 m to 750 m across
at depth where relogging indicates a very high porphyry level of historical drilling, with only a single
deeper test that failed to cross peak chargeability.
• Proposed drilling at Mary is designed to test the open-ended northern deposit, cross over a
historical intercept within anomaly (0.31 g/t Au, 0.13% Cu over 208 m, BC07-10), and drill deeper
levels of peak chargeability never before tested.
• On trend with Mary, the DM porphyry target intercepts are at apex of chargeability anomaly where
higher relative copper:gold intercepts are associated with bornite.
• Proposed d rill test at DM aim s to ste p 250 m to south of open -ended, from -surface intercepts
(0.21% Cu, 0.28 g/t Au over 223 m, BC06 -03) and test large chargeability anomaly below for a
porphyry root zone.
6. Cliff Porphyry Cu-Au Target
• New large 700 m wide and 1 km deep ( > 25 mV/V) Mary-like chargeability anomaly projects
to surface mineralization at Cliff porphyry now interpreted as the core target for Cliff porphyry,
where flanking-type intercepts (Cu-Mo, low Au) drilled into flanks of chargeable body.
• The new Cliff target area can be easily tested 350 m to NE of previous drill tests in flat alpine terrain.
Dustin Perry, CEO states “We are incredibly pleased with our first IP survey results on the HWY 37
Project. The survey highlighted the best porphyry drill target I have seen in my career at the open
Williams deposit. Williams was discovered in 2017 and has only seen 6,095 m of drilling despite returning
grades comparable to significant deposits in the Golden Triangle. Previous IP surveys there outlined a
broad chargeability anomaly, but survey lines were run subparallel to the trend of mineralization which
limited targeting capabilities due to a lack of contrast. The new survey line is orthogonal to historical lines
and when integrated into a new 3D inversion highlights the potential for significant expansion. Historical
drill holes bottomed in mineralization and demonstrated potential for excellent porphyry grades with sub
intervals including 127 m of 0.56% Cu and 0.69 g/t Au. Intercepts contain chalcopyrite greater than
bornite and we interpret that grades have potential for improvement as bornite becomes the dominant
sulfide mineral. The new IP chargeability anomaly represents the potential for discovering multiple
Williams-like shallow stocks as well as a larger intrusive body at depth.
The porphyry targets we have outlined at Lower and Upper Hank are stand-alone drill targets. They
overlap with both disseminated bulk tonnage and high-grade structurally hosted Au-Ag mineralization.
Mapping and spectral studies in the area have outlined a strong case for telescoped porphyry -epithermal
systems which leads to the possibility of abrupt and often rapid changes from the epithermal domain to
porphyry Cu-Au mineralization. Given the size and cluster of anomalies at the Hank-Williams area
coupled with mineralization styles, we believe there is potential to host a cluster of porphyry Cu-Au
systems comparable to the Cadia area in NSW, Australia.
The single reconnaissance line we completed at the ME target reaffirmed our belief that it represents a
poorly tested porphyry Cu-Au target. Historical drilling there was done from the base of slope with limited
and incomplete assays in an area we interpret the drill site as too deep and laterally far from the historical
stockwork showing. Mapping this year outlined trends of porphyry stockwork with Cu-Au-Ag-Mo
mineralization. Observations at the base of slope at ME and the base of slope at the large Goat g ossan to
the NE indicate the presence of a flanking alteration character to a large NE trending porphyry system.
The single IP line returned high chargeability values across the full length of the line which represents drill
ready targets for 2025.
Further, a single IP line was completed at the Mary Deposit to better understand the orientation of the
system, and to cover the Cliff and DM targets. Along trend to the north of Mary, rock sampling returned
0.42% Cu and 0.97 g/t Au from an untested stockwork body. Drill core review at Mary showed previously
unrecognized syn-mineral intrusions comparable to those identified at Williams, and at DM showed the
presence of bornite stringers. These observations along with the new IP survey led us to believe that
there is significant potential for discovery to the north along this trend. The IP survey at Cliff outlined a
large chargeability anomaly that trends into the slope and is essentially untested by the three shallow drill
holes completed there to date.
The targets generated from this program represent a pipeline of top-notch porphyry Cu-Au drill targets in
one of the most geologically prospective and active mining jurisdictions in the First World. ”
Summary of IP and Geological Mapping Programs
The 2024 field program at the HWY 37 and LGM projects was primarily focused on defining drill targets
for the 2025 field season. Four IP geophysical lines (Figure 1) were completed on the HWY 37 project
and totalled 14.14-line km. This data was then integrated with historical data to provide new 3D inversions
at the Mary and Hank-Williams trends.
Mapping at HWY 37 was focused on better understanding the alteration and controls on grade at the
Mary and Hank-Williams trends and at the ME Target. Between 2023 and 2024, 501 samples have been
selected for spectral analysis that will be completed and interpreted over the coming months prior to the
2025 field season. This data will complement the preexisting spectral data that exists in the Hank -
Williams Trend.
Limited work was completed on the LGM Project as targets are relatively early stage compared to HWY
37. A single day of mapping at the Grizzly target was completed and led the Company to believe that
additional mapping will need to be completed in 2025 prior to drill targeting. Grizzly represents the top of
a structurally-controlled alkalic porphyry Cu-Au system.
Figure 1: HWY 37 2024 IP Survey Lines and Porphyry Cu-Au Target Areas
Williams Porphyry Cu-Au New Target
The Williams porphyry Cu-Au system, which was discovered in 2017 with the initial drill hole returning 377
m of 0.31 g/t Au and 0.28% Cu (Figure 2, 3), was the focus of a new IP survey line. The deposit drill
footprint of 500 m long by 400 m wide and 500-600 m deep is within a 2.2 km long and 1.5 km wide and
1 km deep chargeable body (>25 mV/V) with values up to 212 mV/V identified by the new survey.
Intercepts at Williams coincide with potassic-altered monzonite porphyry intrusion that extend to surface
with abrupt grade change between intrusive host and the volcanic rocks (Figure 4). The Williams deposit
is largely hosted in one structurally focused intrusion within a chargeability anomaly that is prospective to
host numerous such bodies.
The historical IP survey lines at Williams were oriented NE, subparallel to the overall trend of
chargeability, alteration and grade, and did not cross and capture the NE-trending character of deposit.
The 2018 survey successfully identified a chargeability anomaly on two sections to the south (50 m and
350 m south of nearest drill hole), yet subsequent drilling in 2019 focused on conservative step-outs from
Williams and failed to assess new chargeability results. The new Williams IP line, oriented NW, was
deemed necessary in order to: fingerprint the Williams deposit, determine the width of the chargeability
anomaly, add resolution to the Williams deposit area, increase depth visualization, and determine the
extent of two alteration trends to the SE (the Upper Hank Trend, and a new alteration trend at southern
extent of survey). The 2018 and the 2024 IP results were combined into a new 3D inversion product for
targeting (e.g., Figure 4 and 5).
The 2024 results from the Williams line were successful in fingerprinting the deposit and outlining a
chargeability anomaly that extends from surface to 1 km depth with a width of 1.5 km (Figure 4). The
overall anomaly is ENE elongate, and is on strike with the Lower Hank Trend (Figure 3). Lateral growth
potential of the copper-gold target is also indicated by new mapping that identified outcrop exposures of
disseminated and vein hosted chalcopyrite and copper oxides in Hank Creek ~400 m south of this survey
line including 0.23% Cu, 0.20 g/t Au, and 9.5 g/t Ag. The new survey also allowed for deeper visualization
of the Wiliams deposit roots, where untested peak chargeability values were identified.
The survey results indicate a large target domain that includes two target types: 1) shallow or at-surface
focused porphyry intrusions and breccia bodies, and 2) deeper-level intrusive-hosted stockwork.
The upper-level porphyry target area includes domains to the north and south of the Williams deposit and
are interpreted as structurally-controlled, Williams-like stocks, such as 127 m of 0.56% Cu, 0.69 g/t Au,
and 3.4 g/t Ag (HNK-18-13). This relatively shallow target domain extends from surface to depths of
~400 m and conceptualizes grade focused within multiple Williams-like porphyry stocks and breccia
bodies. Grade at these upper levels is characterized by a very close association with intrusions (Figure 4)
– copper and gold grades increase from background levels rapidly into the intrusions. The upper
chargeable anomaly is interpreted to result from a complex of several such porphyry stocks within
volcanic rocks, not the drilled extent of the Williams stock alone.
The deeper target domain spans 1 km wide and includes the peak chargeability values (212 mV/V) where
there is potential for more broad, intrusive-hosted stockwork (Figure 4). From regional examples, highest
relative copper grades are associated with bornite typically intercepted at deeper levels where higher
temperature conditions exist. The geometry of chargeability supports this exploration concept with a
marked chargeable high close to surface in volcanic rocks (pyrite>chalcopyrite), a muted mid -level
response in mixed intrusions and volcanic rocks (chalcopyrite>pyrite), and a broadening root zone where
bornite>chalcopyrite is conceptualized in an intrusive host (Figure 7). Given the grade at Williams and
the significant scale of the anomaly, this target area has been elevated to a top priority for drilling
in 2025.
Figure 2: Hank-Williams Area Porphyry Targets
Figure 3: Hank-Williams Area Alteration and IP Chargeability
Figure 4: Williams Porphyry Cu-Au IP Chargeability Section
Figure 5: Lower and Upper Hank Porphyry Cu-Au IP Chargeability Section
Lower Hank Porphyry Cu-Au Target
A new 3D IP inversion product from coupled historical and new lines revealed a 1.6 km long by 0.8 km
wide and 850 m deep anomaly (>35 mV/V) – the Lower Hank Porphyry target. The geometry of the
chargeability body aligns with mapped quartz-sericite-pyrite-chlorite (phyllic and propylitic alteration) on
surface (Figure 3). The anomaly is focused at shallow levels and broadens at depth, similar to the
Williams chargeability anomaly. At the apex of the anomaly, historical holes intercepted high-grade gold,
such as hole HNK-17-001 with 95 g/t Au, 1100 g/t Ag over 0.58 m. Deeper drilled extents that correlate
with the uppermost levels of the anomaly intersect porphyry-style broad gold, such as hole HNK-17-006
with 0.44 Au Eq. over 341.7 m (Figure 5). Initial drill holes above this anomaly have only intersected
volcanic rocks, and have not yet discovered the key porphyry intrusion that host mineralization at
Williams. An outcrop to the southeast of the drilled area contains stockwork and disseminated style
mineralization more typical in porphyry type systems (rock here returned 0.37% Cu, 0.44 g/t Au).
The top of the Williams porphyry deposit is less than 300 m vertically below epithermal gold systems at
Pit and the “Boiling Zone” and at the same elevation as Au-Ag-Pb-Zn veins along the Lower Hank Trend.
The presence of close vertical emplacement levels for epithermal and porphyry systems indicates a
process of telescoping. This has two important exploration implications for the area: 1) new potential for
porphyry targets at relative shallow levels below surface, and 2) the presence and overlap of high -grade
structural gold within porphyry target domains.
Although historically a high-grade gold target, the new chargeability anomaly at the Lower Hank Porphyry
target represents high potential for porphyry discovery due to: 1) the presence of overlap of epithermal
gold veins (telescoping) onto porphyry systems at same elevations, 2) the target is on trend and at the
same elevation as the Williams deposit, 3) a transition from structurally-controlled gold at shallow levels
into broad, disseminated gold at depth typical of porphyry systems, and 4) potential for rapid grade
change into mineralizing porphyry intrusions not yet discovered at this anomaly.
The furthest south IP line (Figure 6) was oriented NW as a 1 km step-out from the previously completed
Hank IP survey. This line crosses the southern alteration extension of the Lower Hank Porphyry Cu -Au
target and stretches SE to the Rojo Grande lithocap. The results obtained from this line indicate that
highly anomalous chargeability exists south of the porphyry Cu-Au targets identified by the Company.
Chargeability values up to 37 mV/V coalesce at depth to form a broad (>2 km) zone beneath Jurassic
basin cover. The basin cover is of exploration interest as it defines the Triassic -Jurassic unconformity
(“red line”) where relatively unaltered rocks drape and conceal prospective units. The basin contains
clasts of petrified wood indicating it formed in a subaerial setting at the paleosurface. The basin also
contains oxidized gossan clasts of the Rojo Grande lithocap, indicating that it formed shortly after the
mineralizing event. Historical drilling south-southwest of the surveyed line has returned anomalous gold
grades that bottom in mineralization including 123 m of 0.34 g/t Au, 110 m of 0.36 g/t Au, and 74 m of
0.43 g/t Au.
Chargeability values directly under the Rojo Grande lithocap show a strong sub -vertical pattern, that may
reflect a fluid flow pathway and provide a targeting vector. Given that this line was completed as a 1 km
step out, more IP surveys will be required to determine if this area represents a distal response of the
upper and lower Hank porphyry Cu-Au targets or a unique standalone porphyry target.
Figure 6: Hank South IP Chargeability Section
Upper Hank Porphyry Cu-Au Target
Similar to the Lower Hank Porphyry Cu-Au Target (Figure 2, 3, 5), a new 3D IP inversion product from
coupled historical and new lines revealed a 1.5 km long by 0.8 km wide and 850 m deep (>35 mV/V)
anomaly – the Upper Hank Porphyry target. The chargeability body lies below a mapped lithocap,
indicative of porphyry tops, and below the Pit deposit where historical drilling outlined bed parallel
epithermal gold horizon returning 20 m of 11.63 g/t Au and 13.8 g/t Ag and 63 m of 1.86 g/t Au.
The Upper Hank chargeability anomaly expanded from a >550 m strike length to a 1.5 km strike
length, comparable to the Williams deposit chargeability anomaly. The original chargeability anomaly was
identified in 2016, prior to the discovery of the nearby Williams porphyry. The initial survey visualized the
anomaly accurately with NW survey lines (Figure 3), yet the anomaly remained open -ended to the north.