Kingfisher Provides Technical Update on HWY 37 Project
Kingfisher Provides Technical Update on HWY 37 Project
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 km 2) 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.
Figure 1: HWY 37 View
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 go ld-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.
Figure 2: Mary Zone: SW Drill Area
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 Geophysics
Figure 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).
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.
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 assum ptions 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 othe r 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 abili ty 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 t hat 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 ma ny 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 (availab le 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 applica ble securities legislation,
the Company does not assume any obligation to update or revise them to reflect new events or
circumstances.