Kingfisher Metals closes LGM Project acquisition, Golden Triangle, British Columbia
Kingfisher Metals Corp. [TSXV-KFR; FSE-970; OTCQB-KGFMF] reported that it has closed the acquisition of the LGM Project from Origen Resources Inc. [CSE-ORGN; FSE-4VXA], which was previously announced June 6, 2024. Under the terms of the definitive agreement, the company issued 3,000,000 common shares in the capital of Kingfisher to Origen and paid C$75,000 in cash to Origen in exchange for the transfer of the LGM Project claims on closing.
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. 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%).
LGM Project Highlights: Expansion of contiguous holdings in the Golden Triangle from 362 km2Â to 630 km2Â 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 metres. 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.
Kingfisher Metals Corp. is 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 43,219,553 shares outstanding.