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Kingfisher Metals Corp
Symbol KFR
Shares Issued 84,673,300
Close 2022-01-12 C$ 0.245
Recent Sedar Documents

Kingfisher Metals plans Goldrange drilling for May

2022-01-12 09:41 ET - News Release

Mr. Dustin Perry reports

KINGFISHER CONFIRMS DRILL TARGET AT DAY TRIP ZONE, GOLDRANGE PROJECT

Kingfisher Metals Corp. has released results from the 2021 induced polarization (IP) geophysical survey and geochemical sampling program at the Day Trip zone within the Goldrange project. The Day Trip zone is located approximately five kilometres (km) southeast of the Cloud Drifter trend and was discovered by Kingfisher in 2020. Kingfisher's 100-per-cent-owned Goldrange project is located approximately 25 km south of the town of Tatla Lake in the Chilcotin region of southwestern British Columbia.

Highlights:

  • Discovery of a very high, at-surface IP (induced polarization) chargeability and conductivity anomaly that underlies highly gold (Au) anomalous geochemistry and veins on surface;
  • Geochemical sampling in 2021 expanded upon the 2020 talus fines survey increasing the footprint of anomalous (over 100 parts per billion (ppb)) Au in talus from approximately 50 metres (m) by 100 m to approximately 100 m by 450 m;
  • The Day Trip target is fully permitted and ready for track-mounted RAB (rotary air blast) drilling in May, 2022.

Dustin Perry, chief executive officer of Kingfisher, commented: "I am very excited to see how our mapping, geochemical sampling and now IP geophysical survey have all validated this attractive target. These results confirm an excellent drill prospect on a brand-new area that we discovered in 2020 through our prospecting program."

Target overview

The Day Trip zone covers a rounded to flat mountain top approximately five km southeast of the Cloud Drifter trend. The target is situated between two interpreted fault splays of the regional Ottarasko fault. High-density intrusive-hosted veins up to two m in width occur over an area approximately 100 m by 400 m. Quartz veins from this area returned grades from below detection limit to 6.7 grams per tonne (g/t) Au. Adjacent to the intrusion is an approximate 70-metre-by-90-metre area of arsenopyrite-cement breccia in subcrop. Approximately 20 per cent of the subcrop material in this area consists of arsenopyrite-cement breccia and grades from 3.4 to 20.1 g/t Au. Talus fine sampling in 2020 outlined a broad area of gold anomalism coincident with areas of gold in outcrop and subcrop that graded up to 8.4 g/t Au over the subcrop breccia area. Rock and talus fine geochemistry both yield a strong multielement signature of arsenic (As), silver (Ag), copper (Cu), bismuth (Bi), tellurium (Te) and lead (Pb) associated with Au.

2021 exploration program

The 2021 exploration program at the Day Trip zone consisted of 4.2 line km of induced polarization geophysical surveying, in addition to 189 talus fine samples. The program was designed to follow up on an area of arsenopyrite cement breccia subcrop adjacent to an area of intrusive-hosted quartz veins.

Talus fine sampling in 2021 covered an area of approximately 400 m by 450 m. The 2021 talus fine sampling expanded the anomaly (over 100 ppb Au) to cover an area measuring approximately 100 m x 450 m with talus fines collected in 2021 grading up to one g/t Au.

The IP geophysical surveying (IP survey inversions) delineated three domains with significant high-chargeability values (over 32 millivolts per volt (mV/V)), the largest of which is broadly coincident with areas of known mineralization and talus fine anomalies. The strongest chargeability values (over 60 mV/V) within the survey area are coincident with high-conductivity responses on survey lines 3500, 3600 and 3700. The anomaly on survey line 3600 coincides with a 90-metre-by-70-metre subcrop of sulphide-cement breccia. The geophysical anomalies are open to the south, north and southwest, as well as at depth. No rock or soil samples have been collected in the western chargeable zones to date.

2022 proposed exploration program

Track-mounted rotary air blast drilling is planned to begin in May, 2022. Given the low snowpack in the area of interest, drilling can commence at the Day Trip zone prior to the Cloud Drifter trend. Drilling will focus on testing areas of coincident geophysical and geochemical anomalism within the area of sedimentary-hosted arsenopyrite-cement breccia, as well as the intrusive-hosted vein domain. Track-mounted RAB drilling will allow for efficient and low-cost initial testing of this at-surface target.

Additional claim staking

An additional seven claims comprising 12,077 hectares (ha) been staked at the Goldrange project. The majority of claims staked were focused along the northern road-accessible region of the project. Several drainages in the northern claims contain stream sediment anomalies for orogenic pathfinders, including As, Sb, Bi, and Te, identified in the British Columbia Regional Geochemical Survey (BC RGS).

Qualified person

Mr. Perry, PGeo, Kingfisher's chief executive officer, 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 is a Canadian-based exploration company focused on underexplored district-scale projects in British Columbia. Kingfisher has three 100-per-cent-owned district-scale projects that offer potential exposure to high-grade gold, copper, silver and zinc.

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