Kingfisher Provides Update on Diamond Drilling and Regional Exploration at the Goldrange Project
Kingfisher Provides Update on Diamond Drilling and Regional
Exploration at the Goldrange Project
VANCOUVER, British Columbia, August 9, 2021 – Kingfisher Metals Corp. (TSX-V: KFR, FSE: 970)
(“Kingfisher” or the “Company”) is pleased to provide an update on diamond drilling and regional exploration
at the Goldrange Project as the Company awaits analytical results. Goldrange is located approximately 25
km south of the town of Tatla Lake in Southwest British Columbia.
The maiden diamond drill program consists of approximately 5,000 m over ~15 holes. Diamond drilling is
testing the Cloud Drifter Trend which is defined by a 3 km long gold -in-soil anomaly including 50 samples
over 1 g/t Au and rock samples grading up to 128.9 g/t Au. Outside of the Cloud Drifter Trend, regional
exploration consisting of rock, stream, and soil sam pling is being completed across the 367 km 2 project.
To date, 4 drill holes have been completed totalling 1,258 m.
Highlights
• Drilling has encountered w idespread zones of quartz -carbonate-sulfide veins, quartz -carbonate-
sulfide breccias, and disseminated sulfides within all drill holes completed to date.
• Sulfide mineralogy includes arsenopyrite, pyrite, marcasite, chalcopyrite, pyrrhotite, sphalerite,
boulangerite, stibnite, tennantite-tetrahedrite, and molybdenite.
• Ongoing regional exploration has collected 2,365 soil samples and 217 rock samples across the tenure
with multiple arsenic anomalies identified.
Dustin Perry, CEO of Kingfisher states “Drilling to date has furthered our belief that the Cloud Drifter Trend
may host a significant hydrothermal vein system. All drill holes completed to date have intersected
widespread quartz-carbonate-sulfide veins, breccias and disseminated sulfides over 300 m of strike and
~430 m of vertical extent. Diamond drilling has collaborated the styles of mineralization and alteration
identified on surface in 2020. Outside of the Cloud Drifter Trend, regional grassroots exploration has been
moving at an efficient pace and has outlined several areas of arsenic anomalism in soils identified with a
portable XRF. Initial prospecting has identified quartz-sulfide veins at several of these locations.”
The Goldrange Project covers a sign ificant 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 and date back to the 1930s.
Diamond Drilling Update
Diamond drilling at the Cloud Drifter Trend has been completed over 4 drill holes totalling 1,258 m (table
1). Figure 1 outlines the drilling progress to date and remaining planned holes.
Planned Drillhole ID Easting (UTM NAD83) Northing (UTM NAD83) Elevation (masl) Depth (m) Azi Dip
GR21-001 388364 5705316 1863 218 341 -45
GR21-002 388364 5705316 1863 482 341 -64
GR21-003 388544 5705532 1717 272 342 -50
GR21-004 388544 5705532 1717 286 320 -64
Table 1: 2021 Cloud Drifter Drill Collars
GR21-001 and GR21-002
The initial two drill holes at the Cloud Drifter Trend were collared from the same drill pad above a thrust
fault deformation zone west of the main Cloud Drifter soil anomaly. Field work in 2020 at this location
identified an array of east-dipping quartz-carbonate-sulfide veins and quartz-carbonate-sulfide breccia.
GR21-001 (341/ -45) intersected a sequence of porphyritic andesite, volcaniclastic conglomerate and
siltstone. The upper 44 m intersected the brittle deformation zone with poor recovery and highl y oxidized
rock. The deformation zone is characterized by abundant Fe-oxide minerals in and near quartz-carbonate
veins, interpreted to reflect oxidized sulfide minerals. Intervals of Fe-oxide are associated with high arsenic
values (1000 - >10,000 ppm As) identified by a portable XRF* device. Discreet zones of brecciation were
encountered throughout the drill hole, associated with pervasive quartz-carbonate alteration and bleaching.
Pyrite, arsenopyrite, chalcopyrite, sphalerite, pyrrhotite, and molybdenite were most commonly associated
with the brecciated and bleached zones. The drill hole was lost at a final depth of 218 m in what is interpreted
to be the principle thrust fault of the deformation zone.
GR21-002 (341/-64) intersected an upper sequence of p orphyritic andesite, volcaniclastic conglomerate
and siltstone to a depth of 261.1 m. The upper 39 m intersected the brittle deformation zone with poor
recovery and highly oxidized rock. The deformation zone is characterized by abundant Fe -oxide minerals
in and near quartz -carbonate veins, interpreted to reflect oxidized sulfide minerals. Intervals of Fe-oxide
are associated with high arsenic values (1000 - >10,000 ppm As) identified by a portable XRF* device.
Below this sequence are biotite-amphibole quartz diorite and amphibole -pyroxene diorite that were
intersected to a depth of 436.3 m, beneath wh ich siltstone was cored to the end of the drill hole. Discreet
zones of brecciation were encountered throughout, associated with pervasive quartz -carbonate alteration
and bleaching. Zoned chlorite-epidote and biotite hornfels were present at the upper cont act between the
sedimentary and intrusive rocks. Pyrite, arsenopyrite, chalcopyrite, sphalerite , pyrrhotite, arsenopyrite,
and molybdenite were identified within brecciated and bleached intervals in the upper volcanic-sedimentary
sequence as well as quartz-carbonate veins in the intrusions. GR21-002 was terminated at a final depth of
482 m.
GR21-003 and GR21-004
The first drill holes designed to test the broad gold-in-soil anomaly at the Cloud Drifter Trend were collared
from the same pad upslope of an area of mineralization outlined in 2020. 2020 sampling in this area
returned a channel sample grading 2.08 g/t Au over 6 m as well as highlight grab sample up to 53.9 g/t Au.
GR21-003 (341/ -50) intersected an upper sequence of biotite hornfels -altered volcaniclastic siltstone,
sandstone and conglomerate to a depth of 49.8 m. Within the upper sequence, the top 30 m consisted of
highly fractured and oxidized rock with poor recovery. The deformation zone is characterized by abundant
Fe-oxide minerals in and near quartz -carbonate veins, interpreted to reflect oxidized sulfide minerals.
Intervals of Fe -oxide are a ssociated with high arsenic values (1000 - >10,000 ppm As) identified by a
portable XRF* device.
Below the sedimentary rocks, drilling intersected biotite-amphibole quartz diorite and amphibole-pyroxene
diorite to 183.4 m, below which siltstone was cored to the end of hole. Pervasive quartz -carbonate-
sericite±chlorite alteration is spatially associated with quartz -carbonate-sulfide veins. Pyrite, arsenopyrite,
chalcopyrite, marcasite, stibnite, boulangerite, tetrahedrite -tennantite, sphalerite and pyrrhot ite were
identified within and proximal to quartz -carbonate veins. Vein textures include open space growth, local
quartz-carbonate-cement breccia, laminated and shear-banded. GR21-003 was terminated at a final depth
of 272 m.
GR21-004 (320/-64) was drilled down dip from GR21-003 and slightly to the west. Drill core logging has
not been completed at the time of this news release.
The 2021 diamond drill program is guided by detailed surface geochemical and structural data collected in
2020 in addition to the 2021 IP geophysical survey. Initial drilling is focused on a ~500 m segment of the
Cloud Drifter Trend, within the Cloud Drif ter Zone, and is defined by the best bedrock exposure and
geological confidence. Initial results from the IP geophysical survey indicate the presence of strong
chargeability anomalies associated with high -tenor soil geochemical anomalies, strongly anomalo us rock
chip samples, and mapped mineralization at surface. Analytical results will be released as they become
available.
Figure 1: Cloud Drifter Zone - Drill Update
Regional Exploration Update
Regional exploration at Goldrange is ongoing and has been completed across the length of the project
(figure 2). As of the time of this news release, 2 ,356 soil and talus fine samples have been completed,
primarily on grassroots targets. Additionally, 217 rock samples and 7 stream sediment samples have been
collected. Backpack drilling has been completed over 13 holes for a total of 37.61 m.
Samples have been analysed daily with a portable XRF * and numerous zones of anomalous As, Sb, Zn,
Pb, and Cu have been identified. Infill sampling has been completed at several of these zones. Prospecting
within several of these zones has identified areas of quar tz-sulfide veining. Analytical results will be
released as they become available.
Figure 1: Goldrange Project – Regional Exploration Update
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 78,747,101 shares outstanding.
For further information, please contact:
Dustin Perry, P.Geo.
CEO and Director
Phone: +1 236 358 0054
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 a ssumptions 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 Com pany'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, supp lies 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 a bility 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 facto rs 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); fluctuati ons 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 abi lity 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 (ava ilable 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, es timated, 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.
*Readers are cautioned that Portable XRF (X -Ray Fluorescence) spot analyses are not equivalent to
laboratory assays; they simply give an indication of the presence of certain metal elements in the drill core.
Spot analyses referenced here were collected using an Olympus Vanta XRF Analyzer, which cannot reliably
detect Gold, but does detect the geochemical pathfinder elements such as Arsenic, Bismuth, Copper,
Antimony, Molybdenum, Lead, and Zinc that are commonly associated with Gold. Assay results are
pending.