Kingfisher Reports Highly Anomalous pXRF Results from RAB Drilling at Day Trip Zone, Goldrange Project

2022-07-12 02:36:50

VANCOUVER, BC / ACCESSWIRE / July 12, 2022 / Kingfisher Metals Corp. (TSXV:KFR)(FSE:970)(OTCQB:KGFMF) (“Kingfisher” or the “Company”) is pleased to announce updates on rotary air blast (RAB) drilling at the 100% owned 511 km2 Goldrange Project. Goldrange is located approximately 25 km south of the town of Tatla Lake in the Chilcotin region of Southwest British Columbia.

Highlights

  • 27 RAB drill holes (1417.32 m) have been completed at the Day Trip Zone, located 5 km SE of the Cloud Drifter Trend.
  • Portable X-Ray Fluorescence (pXRF) analysis has delineated multi-element anomalism related to a significant hydrothermal system.
  • Visual chip logs identified sulfide minerals and quartz veins typical of the gold mineralization style observed on surface in all drill holes to date.
  • Geochemical and geological observations from drill cuttings outline a ~275 m x 120 m prospective footprint open laterally and at depth.
  • Samples have been submitted for gold analysis at MSALABS’ Chrysos PhotonAssayTM for analysis and check fire assays with initial results expected in the coming weeks.

Dustin Perry, CEO states “RAB drilling coupled with pXRF analysis at Day Trip has efficiently outlined an open-ended hydrothermal footprint typical of gold mineralization on surface. Results to date indicate that the system may be considerably larger than what we had initially interpreted. The Company will update the market on developments from the gold assay results in due course.”

Overview

Kingfisher commenced the first-ever drill program at the Day Trip Zone with a rotary air blast (RAB) drill rig in May 2022. The initial 27 holes (Table 1) focused on a ~275 m by 120 m area at shallow depths of less than 82 m.

The Day Trip Zone covers a rounded mountain top approximately 5 km southeast of the Cloud Drifter Trend (Figures 1 and 2). The target is situated between two interpreted fault splays off the regional Ottarasko Fault. High-density intrusive-hosted veins, up to 2 m in width, occur over an area ~100 m by 400 m. Quartz veins from this area returned grades from below detection limit to 6.7 g/t Au over 2 m. Adjacent to the intrusion is a ~70 m x 90 m area of arsenopyrite-cement breccia in subcrop (Figure 1). Approximately 20% of the subcrop material in this area consists of arsenopyrite-cement breccia and rocks grade from 3.4 to 20.1 g/t Au. Talus fines sampling in 2020 and 2021 outlined a broad area of gold anomalism coincident with areas of gold in outcrop and subcrop that grades up to 8.4 g/t Au. Rock and talus fines geochemistry both yield a strong multi-element signature of As, Ag, Cu, Bi, Te, Sb, Zn and Pb associated with Au.

Junior Mining Network

Figure 1. Day Trip Zone and RAB Drill Collars

Junior Mining Network

Figure 2: Day Trip Zone Aerial View to East

Hole

Easting (m)

Northing (m)

Elevation (m)

Depth (m)

Azimuth

Dip

GRR22-001

392313

5702390

2274

70.10

162

70

GRR22-002

392311

5702391

2274

82.30

247

55

GRR22-003

392311

5702393

2275

56.39

300

55

GRR22-004

392313

5702394

2275

65.53

345

55

GRR22-005

392314

5702394

2275

71.63

020

55

GRR22-006

392296

5702432

2280

36.58

162

55

GRR22-007

392295

5702432

2280

13.72

210

55

GRR22-008

392264

5702379

2273

82.30

015

70

GRR22-009

392262

5702376

2272

41.15

247

55

GRR22-010

392264

5702375

2272

19.81

160

55

GRR22-011

392266

5702377

2273

44.20

090

55

GRR22-012

392264

5702377

2272

19.81

000

90

GRR22-013

392278

5702407

2279

67.06

000

90

GRR22-014

392278

5702406

2278

45.72

090

65

GRR22-015

392278

5702407

2278

16.76

247

60

GRR22-016

392278

5702407

2279

54.86

020

60

GRR22-017

392254

5702346

2271

41.15

030

80

GRR22-018

392218

5702361

2271

54.86

247

80

GRR22-019

392218

5702361

2271

57.91

069

70

GRR22-020

392190

5702458

2276

60.96

248

55

GRR22-021

392190

5702458

2276

51.82

248

70

GRR22-022

392140

5702442

2266

36.58

248

65

GRR22-023

392140

5702442

2266

39.62

248

90

GRR22-024

392080

5702424

2246

74.68

068

70

GRR22-025

392080

5702424

2244

64.01

248

65

GRR22-026

392064

5702395

2236

77.72

247

60

GRR22-027

392064

5702395

2236

70.10

190

60

Table 1. RAB Drill Hole Locations (NAD83, Zone 10)

RAB Drill Results

Drill cuttings were analyzed using an Olympus Vanta Handheld XRF (C Series) (pXRF) instrument for multiple elements. All RAB holes intercepted anomalous intervals of pathfinder elements (Figure 3, Table 2) consistent with Au-related pathfinder enrichments observed in surface geochemical samples previously collected at the Day Trip Zone.

Junior Mining Network

Figure 3. Day Trip Zone pXRF Results of RAB drilling

Hole

From (m)

To (m)

Interval (m)

As ppm

Cu ppm

Zn ppm

GRR22-001

0.00

9.14

9.14

234

122

152

and

30.48

36.58

6.10

272

145

443

GRR22-002

0.00

15.24

15.24

938

222

230

and

32.00

39.62

7.62

120

74

101

GRR22-003

0.00

7.62

7.62

565

111

272

and

25.91

35.05

9.14

361

134

97

GRR22-004

0.00

6.10

6.10

108

108

218

GRR22-005

0.00

6.10

6.10

149

81

87

GRR22-006

0.00

18.29

18.29

1395

137

396

GRR22-007

0.00

12.19

12.19

2153

118

461

GRR22-008

0.00

24.38

24.38

3407

206

183

GRR22-009

0.00

41.15

41.15

579

143

104

GRR22-010

0.00

16.76

16.76

3762

350

231

GRR22-011

0.00

44.20

44.20

854

236

226

GRR22-012

0.00

19.81

19.81

2606

293

160

GRR22-013

0.00

12.19

12.19

11693

375

202

GRR22-014

0.00

16.76

16.76

8579

373

404

GRR22-015

0.00

13.72

13.72

4804

271

253

GRR22-016

0.00

18.29

18.29

3418

165

188

GRR22-017

6.10

32.00

25.91

199

119

78

GRR22-018

6.10

48.77

42.67

1086

135

165

GRR22-019

3.05

30.48

27.43

2580

184

172

GRR22-020

0.00

16.76

16.76

152

112

118

GRR22-022

0.00

22.86

22.86

1196

211

215

GRR22-023

0.00

15.24

15.24

562

234

185

GRR22-025

36.58

62.48

25.90

247

196

75

GRR22-026

0.00

9.14

9.14

248

195

75

GRR22-027

0.00

6.10

6.10

346

201

91

*True widths are not known at this time, all widths reported are drilled widths. Highlight intervals are selected based on >100 ppm As. Anomalous intervals with less than 5 m lengths are omitted from table, bold rows contain As > 1000 ppm

Table 2. Highlight Table of XRF Results

Breccia Target Area

The breccia target area consists of mafic to intermediate volcaniclastic siltstone and sandstone that is host to a quartz-sulfide breccia. The breccia is associated with arsenopyrite and subordinated pyrite, pyrrhotite, and chalcopyrite. Drilling intercepted hydrothermal quartz and sulfide in all holes in the target area (Figure 4) that are enriched in As, Cu, Zn, Pb, Sb and Bi as defined by pXRF.

Junior Mining Network

Figure 4. Photos of RAB Chips of Breccia Target Area

Intrusive Target Area

The intrusive target area is host to a quartz diorite intrusion that cuts sandstone. In contrast to the breccia target area, hydrothermal material at the intrusive target area is quartz dominated, and relatively sulfide poor (Figures 5 and 6). Intervals with hydrothermal material are associated with similar enrichments in Cu and Pb as the breccia target, whereas As, Bi, Sb, and Zn enrichments are more muted.

Junior Mining Network

Figure 5. Photos of RAB Chips of Intrusive Target Area

Junior Mining Network

Figure 6: Low-Sulfide Quartz Vein Breccia with Pathfinders

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 rotary air blast (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 (50-90°) to depths of up to 100 meters. 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.

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.

For further information, please contact:

Dustin Perry, P.Geo.

CEO and Director

Phone: +1 778 606 2507

E-Mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

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 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 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 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 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 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); fluctuations 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 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 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 (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.

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