Kingfisher Provides Update on Diamond Drilling at the Goldrange Project
Kingfisher Provides Update on Diamond Drilling at the Goldrange
Project
VANCOUVER, British Columbia, September 2, 2021 – Kingfisher Metals Corp. (TSX-V: KFR) (FSE: 970)
(OTCQB: KGFMF) (“Kingfisher” or the “Company”) is pleased to provide an update on diamond drilling 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 consist s 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 1 28.9 g/t Au. Outside of the Cloud Drifter Trend, regional
exploration consisting of rock, stream, and soil sampling is being completed across the 367 km 2 project.
To date, 9 drill holes have been completed totalling 3,289 m.
Highlights
• Drilling continues to encounter w idespread zones of quartz -carbonate-sulfide veins, quartz -
carbonate-sulfide breccias, and disseminated sulfides within all drill holes completed to date.
• The highest density zones of mineralized veins occur within broad bleached and sericite altered
intervals proximal to intrusive-sedimentary contacts. Within bleached zones, disseminated fuchsite
is common.
• The majority of drilling has focused on testing structurally-hosted mineralization at the contacts of the
upper diorite . GR21 -007 was drilled to 533 m to additionally test the lower quartz diorite which
contained similar quartz-carbonate-sulfide breccias and veins as found within the upper intrusion.
Dustin Perry, CEO of Kingfisher states “Since the third drill hole (GR21-003) of the 2021 program we have
been testing the contacts between the upper diorite and sedimentary rocks. These broad contact zones are
proving to be favourable locations for hydrothermal alteration and sulfide mineralization. With GR21 -007
we have also intersected similar styles of mineralization within the lower quartz diorite. The 2021 program
is consistently encountering structurally -hosted sulfide mineralization within these contact zones and
demonstrating the potential for the rest of the Cloud Drifter Trend.”
Charlie Grieg, Advisor to Kingfisher states “Visuals from the first nine holes for the initial drill program at the
Goldrange Project clearly match the systematic surface geochemistry and geology and together they are
indicative of the existence of a large hydrothermal system. During my site visit, I was able to examine all
the core from the Cloud Drifter Zone holes and was impressed not only with the extent, variety, and strength
of the sulfide mineralization and hydrothermal alteration, but also with the exploration potential of this
sizeable and relatively easily-accessed property—very exciting prospect for Kingfisher!”
The Goldrange Project covers a significant 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 9 drill holes totalling 3289 m (table 1).
Figure 1 outlines the drilling progress to date and remaining planned holes.
Mineralization encountered in drilling to date includes broad intercepts of quartz-carbonate veins and halo
alteration of quartz-carbonate-sericite-clay.
Vein styles include laminated shear banded quartz-sulfide, open space fill veins with euhedral minerals and
coarse sulfide, massive pyrite or arsenopyrite veins, and stockwork -style diffuse veins associated with
strong halo alteration.
Breccia textures range from diffuse to brittle cla st boundaries to diorite and sulfide clasts with cement of
quartz-carbonate-sulfide. Disseminated mineralization is widespread with variable intensity throughout
quartz-carbonate-sericite-clay alteration zones.
Disseminated sulfides range from fine grained to coarse grained massive and semi massive sulfides.
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 292
320 -64
GR21-005 388590
5705573
1699
330
341 -54
GR21-006 388590
5705573
1699
317
350 -74
GR21-007 388590
5705573
1699
533
330 -57
GR21-008 388493
5705531
1717
514.4
280 -57
GR21-009 388493
5705531
1717
331
300 -55
Table 1: 2021 Cloud Drifter Drill Collars
Hole Descriptions
GR21-004
GR21-004 (320/ -64) collars from the same pad as GR21 -003. The drill hole intersected volcaniclastic
sandstone to conglomerate from surface to a depth of 43.5 m with Fe -oxide on fractures throughout.
Quartz-carbonate-sulfide veins were intersected within in this interval with arsenopyrite, pyrrhotite, pyrite
and chalcopyrite. Diorite (43.5 – 199.7 m) and siltstone (199.7 -292.0 m, final depth) are overprinted by
broad zones of quartz-carbonate-sericite-clay-sulfide vein and halo alteration. Sulfide minerals within the
veins and halos include arsenopyrite, pyrite, pyrrhotite, chalcopyrite, molybdenite, and sphalerite .
GR21-005
GR21-005 (348/-54) collars 60 m grid east of GR21-003 and GR21-004. The drill hole intersected siltstone
with Fe-oxide on fractures to a depth of 17.1 m . Quartz -carbonate veins were intersected within in this
interval with pyrrhotite, pyrite and chalcopyrite. Diorite (17.1 – 233.1 m) and siltstone (233.1 -330 m, final
depth) are overprinted by broad zones of quartz-carbonate-sericite-clay-sulfide vein and halo alteration.
Sulfide minerals within the veins and halos include arsenopyrite, pyrite, pyrrhotite, sphalerite, molybdenite,
tetrahedrite-tennantite, and chalcopyrite.
GR21-006
GR21-006 (348/-74) collars from the same pad as GR21-005. The drill hole intersected siltstone with Fe -
oxide on fractures to a depth of 16.5 m. In areas with less Fe -oxide, quartz-carbonate-arsenopyrite veins
were identified with trace pyrrhotite and pyrite. Diorite (16.5 - 218.5 m) and siltstone (21 8.5 – 317 m, final
depth) are overprinted by broad zones of quartz-carbonate-sericite-clay vein and halo alteration. Sulfide
minerals within the veins and halos include arsenopyrite, pyrite, pyrrhotite, bismuthinite, tetrahedrite -
tennantite, and chalcopyrite.
GR21-007
GR21-007 (330/-57) collars from the same pad as GR21 -005 and GR21 -006. The drill hole intersected
siltstone with Fe -oxide on fractures to a depth of 18.4 m. In areas with less Fe -oxide, quartz-carbonate-
arsenopyrite veins were identified. Bet ween 18.4 m and a final depth of 533 m is a mixed unit of siltstone
and diorite transitioning into siltstone and quartz-diorite. The length of the hole is overprinted with vein and
halo alteration of quartz-carbonate-sericite-clay-sulfide. Sulfide minerals within the veins and halos include
arsenopyrite, pyrite, pyrrhotite, chalcopyrite, boulangerite, and molybdenite.
GR21-008
GR21-008 (280/-62) collars 50 m grid west of GR21 -003, 004 and 005. The drill hole intersected siltstone
and volcaniclastic sands tone and conglomerate to a depth of 64.7 m. Veins within this upper interval are
associated with quartz-carbonate alteration and pyrite, pyrrhotite and chalcopyrite. A mixed unit of diorite,
siltstone, and volcaniclastic sandstone to conglomerate was intersected from 64.7 to a final depth of 514.4
m. The lower interval is overprinted with broad zones of quartz -carbonate-sericite-clay-sulfide vein and
halo alteration. Sulfide minerals within the veins and halos include arsenopyrite, pyrite, chalcopyrite, an d
pyrrhotite.
GR21-009
GR21-009 (300/-55) collars from the same pad as GR21 -008. Drill core logging has not been completed
at the time of this news release.
Figure 1: Cloud Drifter Zone - Drill Update
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 Drifter Zone, and is defined by the best bedrock exposure and
geological confidence. Initial results from the IP geophysical survey indic ate the presence of strong
chargeability anomalies associated with high -tenor soil geochemical anomalies, strongly anomalous rock
chip samples, and mapped mineralization at surface. Analytical results will be released as they become
available.
Dustin Perry, CEO will be discussing the details of this news release as well as what to expect in the near
term in a webinar hosted by Adelaide Capital at 11AM PST today (September 2, 2021). Registration can
be completed through the following link:
https://us02web.zoom.us/webinar/register/WN_VMmImP2iSaSMf7f1WBaS6g
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 pote ntial exposure to high -grade gold, copper, silver, and zinc. The Company currently
has 78,988,500 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 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 dri ll 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 transportatio n); 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 devel opments 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 Canad ian 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 minin g 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 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.