Kingfisher Metals drills 0.43 g/t AuEq over 438 metres at HWY 37, British Columbia

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Kingfisher Metals Corp. [TSXV-KFR; OTCQB-KGFMF-FSE-970] reported the full results of the 2023 diamond drilling program at the HWY 37 project with 2,150 metres drilled over six holes. The project is located in northwest British Columbia within the Golden Triangle region.

Highlights: A ~100 metre southern step-out at the Mary porphyry deposit returned 0.43 g/t AuEq (gold equivalent) over 438 metres (0.26 g/t Au, 0.043% Cu, and 36 ppm Mo; hole M-23-006) and is the first-ever hole into barren cover rocks that significantly expands the prospective area.

A high-level setting, indicated by epithermal veins at Mary (3 m of 811 g/t Ag; M-23-006), suggest potential for an increase in disseminated porphyry copper grades at deeper levels.

A ~1,000 metre southeastern step-out from Mary delineated a large alteration body below the barren cover at the Mary Root Zone target consistent with a flanking zinc-rich ‘pyrite halo’ position to a porphyry core, including 241.7 metres of 0.31 g/t Au Eq. (0.16 g/t Au, 4.6 g/t Ag, 0.039% Pb, 0.126% Zn; hole M-23-002).

Drilling at Cliff Porphyry is the first to test a sizeable 300 by 150 metre quartz stockwork body separated from the Mary deposit by >1,400 metes to south-southwest across a drape of barren cover rock. Initial test of stockwork returned 114 metres of 0.2% Cu Eq. (0.114% Cu, 0.04 Au, 67 ppm Mo; hole M-23-001).

Dustin Perry, CEO stated, “Our modestly sized first ever drill program at HWY 37 successfully delivered results supporting our thesis that the Mary area has significant room to grow and that there is potential for the discovery of large porphyry systems comparable to other deposits within the Golden Triangle. We look forward to continued drilling in 2024 at this underexplored porphyry district within the prolific Golden Triangle of British Columbia.”

Gayle Febbo, VP Exploration stated, “The large vertical and lateral scale of alteration is reminiscent of other notable Au-Cu districts in the region such as KSM and Treaty Creek. This program has shown us that the Mary area has kilometer scale lateral exploration opportunities with a high-level porphyry setting ideal for the potential discovery of a lower-level copper body comparable to those delineated at KSM.”

The Mary deposit is one of three advanced targets on the HWY 37 Project in addition to the Williams Cu-Au porphyry deposit and the Hank Au-Ag epithermal deposit. The Mary porphyry system is located 9 km from Highway 37 and the Northwest Transmission Line.

Drilling at the Mary deposit in 2023 expanded the northerly strike length from 360 metres to 450 metres and increased the width to ~240 metres.

The Mary Root Zone target concept was based on a large coincident chargeability-resistivity geophysical anomaly, and two holes were able to identify that the scale and depth of the anomalies is consistent with a very large gold-bearing hydrothermal system.

The Cliff stockwork body was tested by two holes – one to test the width extent and a second to test the depth extent.

Drilling at the Mary deposit in 2023 expanded the northerly strike length from 360 metres to 450 metres and increased the width to ~240 metres. The Mary deposit dimensions are yet to be fully delineated, and significant potential exists under cover to the south and southeast.

Two holes at the Mary Root Zone Target were drilled at a spacing of ~170 metres. Broad anomalous gold and zinc were intercepted, such as 241.7 metres of 0.16 g/t Au, and 0.13% Zn.

Two holes were drilled at the Cliff porphyry and were the first-ever test of a significant quartz stockwork body that measures 300 by 150 metres on surface. The stockwork body is located >1400 metres south-southwest of the Mary deposit across a drape of barren cover. Initial tests of the stockwork returned 114 metres of 0.2% CuEq. (0.114% Cu, 0.04 Au, 67 ppm Mo; hole M-23-001).

The company is currently evaluating the extensive database of historical exploration and geological information in addition to our 2023 exploration results at the HWY 37 Project.

In the summer of 2023, Kingfisher applied for a 5-year multi-year area-based permit (MYAB) covering the Hank portion of the HWY 37 Project. It is anticipated that the company will receive the 5-year drill permit in advance of the 2024 drill program and Kingfisher intends to focus on exploring both the Mary porphyry and Hank epithermal area targets with drilling in 2024.

Kingfisher has three 100%-owned district-scale projects and an option to earn 100% of the HWY 37 project. The company has 130,586,151 shares outstanding.

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