Kingfisher Signs Definitive Agreement to Acquire the LGM Project in the
Kingfisher Signs Definitive Agreement to Acquire the LGM Project in the
Golden Triangle, British Columbia
VANCOUVER, British Columbia, June 6, 2024 – Kingfisher Metals Corp. (TSX -V: KFR) (FSE: 970)
(OTCQB: KGFMF) (“Kingfisher” or the “Company”) is pleased to announce that it has entered into a
definitive agreement (the “Agreement”) to acquire the LGM Project from Origen Resources Inc. (“Origen”).
The 26,771 Ha LGM Project is located immediately south and contiguous with Kingfisher’s HWY 37 Project,
in Northwest British Columbia within the Golden Triangle.
Highlights
• Expansion of contiguous holdings in the Golden Triangle from 362 km2 to 630 km2 including
KSM-type targets in west, alkalic Galore Creek-type targets in central region (Grizzly and
Lucifer) and unexplored Eskay Creek-type stratigraphy to the east.
• Grizzly Target trench sampling from 2006 returned 0.74% Cu and 1.09 g/t Au over 38 m.
• The LGM Project represents one of only three silica -undersaturated magmatic -volcanic
complexes in the Golden Triangle with discovery potential for Galore Creek -type porphyry
systems and has only seen 3,988 m of drilling.
• Historical stream sampling at Lucifer outlined a 4 km-long trend of highly anomalous stream
sediment samples grading up to 7.8 g/t Au – similar in strength and scale to the Hank
epithermal deposit signature at HWY 37.
• LGM Project is fully permitted for diamond drilling.
Dustin Perry, CEO states “Acquiring the LGM Project fits into Kingfisher’s strategy to explore large district-
scale opportunities and further increases our land holdings adjacent to Highway 37 in the prolific Golden
Triangle. Historical results at LGM show very encouraging early -stage indications of porphyry Cu -Au
mineralization with the Galore Creek potential.”
Gayle Febbo, VP Exploration states “The Grizzly and Voigtberg showings represent the only known
showings in the region with mineralization hosted in pseudoleucite bearing volcanic rocks without a
significant discovery. My work at Galore Creek focused on the structural patterns of ore shoots, and I believe
comparable unrecognized patterns and potential exist for the LGM Project.”
The LGM Project Overview
The LGM Project lies directly south of the HWY 37 Project (Figure 1). It parallels Highway 37 and is bound
to the south by the Galore Creek access road . The project comprises 26,771 Ha with underlying NSR
royalties ranging from 1% to 2%.
LGM offers exposure to three district -scale exploration targets: 1) KSM -type porphyry showings (Texas
Creek suite intrusions) in the western half of project, 2) Galore Creek-type showings in the southwest region
of project (Galore Creek suite intrusions), and 3) Eskay-type prospective stratigraphy in the eastern project
(Iskut River Formation). Despite the highly favourable location within the Golden Triangle and proximity to
both the highway and the Galore Creek access road , the project has only seen 3,988 m of shallow
reconnaissance diamond drilling. Historical exploration at the project has focused on the Grizzly and Lucifer
targets with exploration dating back to the 1970s.
The LGM /Voigtberg, Galore Creek, and Newmont Lake projects represent the only three areas in the
Golden Triangle where ~210 -208 Ma silica -undersaturated, alkalic magmatic-volcanic complexes are
identified. These rare and Cu -Au-rich systems are marked by the presence of pseudoleucite in both the
intrusions and in the overlying volcanic rocks. Although many Galore Creek suite intrusions are identified
in the region, only three reflect full vertical preservation that includes the pseudoleucite-bearing volcanic
carapace. Galore Creek is the most advanced of these projects with a measured and indicated resource of
1,197 Mt at 0.46% Cu and 0.25 g/t Au , and the Newmont Lake Project is host to the Burgundy Ridge drill
delineated Cu-Au porphyry deposit. The LGM/Voigtberg region represents rare exposure to a Galore Creek-
type system, and the only magmatic-volcanic complex where a deposit has not yet been delineated. The
Company notes that mineralization on nearby projects is not indicative of mineralization on the LGM Project.
Figure 1: Regional Overview Map
Figure 2: LGM Project – Grizzly-Voigtberg-Lucifer Trend
Grizzly Porphyry Target Area
The Grizzly target (Figure 2) is a silica-undersaturated alkalic Cu-Au porphyry with a comparable setting to
Galore Creek. The target is centered on a surface trench of 0.74% Cu and 1.09 g/t Au over 38 m and
lies within a 1 km by 1 km Cu-Au-Ag-Mo soil geochemical anomaly that grades up to 2916 ppm Cu, 1100
ppb Au, 5.4 ppm Ag, and 160 ppm Mo . Excellent rock sampling results up to 5.91% Cu and 13 g/t Au at
Grizzly were the focus of a small drill program in 2008, with 1442.9 m of diamond drilling.
The small program failed to identify the geometry of the porphyry intrusion and drilled exclusively along an
east-west azimuth into pseudoleucite -bearing rocks . The NNE axis of mineralization in moderately S -
dipping gully defined by rocks was not crossed by the 2008 drill holes. Anomalous intercepts from 2008
include 0.16 g/t Au and 0.10% Cu over 66.6 m (hole GRZ08-11).
Follow-up geophysical surveys identifi ed a moderate chargeability and magnetic anomaly directly below
the Grizzly trench showing. The strongest chargeability anomaly remains untested and lies downslope from
the Grizzly showing in a region where monzonite to syenite porphyry is mapped on surface. Three large
untested magnetic anomalies were identified at depth below the Grizzly showing, the most westerly
coincides with a moderate shallow chargeability anomaly.
The Grizzly showing appears to be a high -level, Galore Creek -type setting with several untested
geophysical anomalies and excellent trench results that have not been crossed by drilling. The first-ever
3D modelling was completed by Kingfisher during the due diligence process, and it highlighted porphyry
mineralization outlined by historical trenching occurs as a ~150 m wide panel that dips moderately to the
south on the shoulder of a large magnetic anomaly. The region represents an opportunity to test highe r-
level, structurally controlled porphyry emplacement bodies from surface as well as deeper, bulk tonnage
porphyry targets.
Lucifer Porphyry and Epithermal Target Area
Lucifer is an early-stage 4 by 5 km region defined by a Cu-Au-Ag-Mo soil geochemical anomaly grading up
to 3383 ppb Au , 787 ppm Cu, 5.6 ppm Ag, and 216 ppm Mo ; the strongest ASTER anomaly across the
Grizzly-Voigtberg-Lucifer Trend ; and a 2.5 km by 1 km area of silica -sericite-carbonate-pyrite alteration
outlined by Noranda in 1991. The region is also defined by a large gossan continuous with the Grizzly and
Voigtberg targets and is prospective for both porphyry and epithermal mineralization.
Widely spaced drilling at Lucifer amounts to 1 ,821.96 m. Airborne geophysical surveys were completed at
Lucifer including magnetic susceptibility and VTEM.
The source of Cu-Au mineralization at Lucifer is not yet drill delineated and several gossans on surface to
the east are unsampled.
Potential Continuation of Hank-Williams Trend
The northern LGM project lies to the southwest from the Hank -Williams Trend on the HWY 37 Project.
Within this area are Texas Creek Suite intrusions mapped by the BC Geological Survey. Much of the
prospective region lies in areas of extensive glaciation that have undergone significant recession since the
last work was completed in the area by Skeena Resources in 1990.
Historical rock sampling of intrusive boulders at the toe of one glacier returned grades up to 0.90% Cu, 0.27
g/t Au, and 6.8 g/t Ag . That glacier has since receded by ~1,500 m and not been subsequently explored.
Sampling of lateral moraines in the area returned up to 4.5 g/t Au and 74.6 g/t Ag from breccias.
Terms of the Agreement
Under the terms of the Agreement, the Company will issue 3,000,000 common shares in the capital of
Kingfisher, to Origen and pay C$75,000 in cash to Origen in exchange for the transfer of the LGM Project
claims on closing. In addition, the LGM Property is subject to underlying royalty agreements over different
parts of the project that range from 1 to 2% with Triple Flag Precious Metals (1%), Ryan Kalt (2%), and Carl
von Einsiedel (2%).
The transaction remains subject to various terms and conditions, including, but not limited to, the approval
of the TSX-V and CSE.
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.
Options Issuance
Kingfisher also announces the grant of 1,700,000 stock options that are exercisable for a period of five
years at a price of C$0.25 per share to its directors, officers, various staff members, and an investor
relations consultant (Adelaide Capital Markets Inc.).
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 two 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 40,219,553
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 statements that constitute “forward -looking statements.” Such
forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the
Company's actual results, performance or achievements, or developments to differ materially from the anticipated
results, performance or achievem ents expressed or implied by such forward -looking statements. Forward -looking
statements are statements that are not historical facts and are generally, but not always, identified by the words
“expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that
events or conditions “will,” “would,” “may,” “could” or “should” occur.
Forward-looking statements in this news release include, among others, statements relating to expectations regarding
the transaction, and other statements that are not historical facts. By their nature, forward -looking statements involve
known and unknown risks, uncertainties and other factors which may cause our actual results, performance or
achievements, or other future events, to b e materially different from any future results, performance or achievements
expressed or implied by such forward-looking statements. Such factors and risks include, among others: the Company
may require additional financing from time to time in order to continue its operations which may not be available when
needed or on acceptable terms and conditions acceptable; compliance with extensive government regulation; domestic
and foreign laws and regulations could adversely affect the Company's business and results of operations; the stock
markets have experienced volatility that often has been unrelated to the performance of compani es and these
fluctuations may adversely affect the price of the Company's securities, regardless of its operating performance.
The forward-looking information contained in this news release represents the expectations of the Company as of the
date of this news release and, accordingly, is subject to change after such date. Readers should not place undue
importance on forward-looking information and should not rely upon this information as of any other date. The Company
undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates
or opinions, or other factors, should change.