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Kingfisher Metals Corp
Symbol KFR
Shares Issued 103,007,272
Close 2022-08-08 C$ 0.19
Recent Sedar Documents

Kingfisher drills 9.14 m of 15,075 ppm As at Goldrange

2022-08-08 09:21 ET - News Release

Mr. Dustin Perry reports

KINGFISHER'S RAB DRILLING PROGRAM AT LANGARA ZONE RETURNS HIGHLY ANOMALOUS PXRF RESULTS

Kingfisher Metals Corp. has provided updates on rotary air blast (RAB) drilling at the 100-per-cent-owned 511-square-kilometre Goldrange project. Goldrange is located approximately 25 kilometres south of the town of Tatla Lake in the Chilcotin region of southwest British Columbia.

Highlights:

  • Six RAB drill holes (399.28 metres) have been completed at the Langara zone, located in the eastern Cloud Drifter trend.
  • Portable X-ray fluorescence (pXRF) analysis has delineated multielement anomalism in all holes drilled from one pad to target a historical adit.
  • Visual chip logs identified sulphide minerals and quartz veins typical of gold mineralization style observed on surface in all drill holes to date.
  • GRR22-033 intercepted the historical Langara adit (1930s) at 9.14 metres and visual chip logs identified geology typical of rocks from adit dump pile.
  • Samples have been submitted for gold analysis at MSALABS's Chrysos PhotonAssay for analysis and check fire assays, with initial results expected in the coming weeks.

Dustin Perry, chief executive officer, stated: "This first shallow drill test of the Langara zone was successful at locating the historical adit that was obscured by talus cover. Additionally, drilling encountered highly anomalous pathfinder mineralization in areas of limited outcrop due to talus cover. Logging of RAB cuttings shows widespread quartz veins with associated sulphide minerals that is comparable to the high-grade gold-silver veins at surface. Now that we have a better 3-D understanding of this target, we can diamond drill this season. The diamond rig will test a much broader area of mineralization as well as potential feeder mineralization to these areas of surficial anomalism."

Overview

Kingfisher commenced the first-ever drill program at the Langara zone with a rotary air blast drill rig in July, 2022. The initial six holes were drilled from a single pad located adjacent to a historical adit from the 1930s. Drilling was completed to test the geometry of near-surface mineralization, including the talus-obscured adit. The historical working is centred on an interference zone between northwest-trending and east-trending veins.

RAB drill results

Drill cuttings were analyzed using an Olympus Vanta hand-held XRF (C Series) (pXRF) instrument for multiple elements. All RAB holes intercepted anomalous intervals of pathfinder elements consistent with gold-related pathfinder enrichments observed in surface geochemical samples previously collected at the Langara zone.

Langara adit target area

The Langara adit and surrounding quartz-hosted mineralization is defined by surface grades up to 60.4 grams per tonne gold and 1,500 grams per tonne silver from grab samples. Dump samples from the Langara adit grade up to 14.4 grams per tonne gold and are associated with arsenopyrite (arsenic), chalcopyrite (copper), sphalerite (zinc), boulangerite (lead and antimony), as well as bismuth-bearing and tellurium-bearing minerals.

The sulphide minerals identified in RAB holes are comparable with gold-bearing rocks observed at surface. Hole GRR22-033 intercepted quartz and sulphide vein material from surface to 9.14 metres, where the historical adit was intersected.

The precise location of historical mining obtained from hole GRR22-033 provides the key data required to plan for diamond drilling. A diamond drill pad will be built near the top of the slope at the Langara zone within the coming weeks. Drilling from this pad will test the depth potential of the Langara adit ore shoot.

pXRF sampling and analytical protocol

RAB drill holes at the Goldrange Project are NWJ sized (2 5/8"). Samples are collected continuously from surface from each 5 ft (1.52 m) rod length. Collected sample material is put through a 1:8 riffle splitter, with the smaller portion of the sample bagged to be sent to the lab for Au Chrysos PhotonAssayTM and Au Fire Assay checks. From the riffle splitter reject ~500 grams of material are collected for pXRF analysis. The pXRF samples are returned to camp where they are dried prior to analysis. Once dry 15 ml of it is packed in a plastic XRF sample cup lined with prolene thin film. Care is taken to ensure that no material larger than 2 mm in diameter is packed into the sample cup. Once the sample cups have been packed, they are analyzed with an Olympus Vanta Handheld pXRF (C Series). Each sample is analyzed twice, adjusting the position of the sample on the pXRF detector between analyses. The two analyses are averaged to give a final result. Between each sample, the pXRF workstation is cleaned with pressurized air and paper towel. Certified reference materials and blanks are inserted into the sample sequence every 20th sample.

About RAB Drilling

Kingfisher is using RAB drills as a cost effective and efficient first pass exploration tool. The RAB is a heli-portable, track mounted drill that can drill a wide range of dips (50-90degree) to depths of up to 100 m. Rock cuttings from the drill hammer are returned to surface between the outside of the rods and the open hole. Under certain conditions, cross contamination between samples is a concern. The assay results from the RAB drill provide a strong indication of the grade and thickness of gold intercepted in a given hole. Kingfisher intends to follow up encouraging RAB assay results with a diamond drill to fully quantify the grade and thickness of these mineralized intercepts.

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.

Investor Relations

Kingfisher also announces that it has entered into an agreement with Adelaide Capital Markets Inc. ("Adelaide") dated August 1, 2022, for various investor relations services at an aggregate cost of C$8,000 per month, payable monthly. The services will commence on August 15, 2022 and will continue for a period of six (6) months. Adelaide is an arm's length consultant and was previously granted 50,000 stock options of the Company that are subject to deferred vesting over one year. To the knowledge of the Company, both Adelaide and Deborah Honig, President of Adelaide, own shares of Kingfisher. Neither the Company nor any of its directors, officers or employees have any interest, directly or indirectly, in Adelaide, or their securities, or any right or intent to acquire such an interest. Adelaide manages a marketing team headquartered in Toronto, Ontario, and has been successfully providing services for a broad range of companies listed on the TSX Venture Exchange.

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 103,007,272 shares outstanding.

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