Kingfisher Metals launches Golden Triangle drilling in B.C.

Kingfisher Metals Corp. [KFR-TSXV, KGFMF-OTCQB-970-FSE] has launched a 7,500-metre drilling program at its Hwy 37 project, which is located within British Columbia’s Golden Triangle.

The move comes after Kingfisher recently raised $10.9 million from a brokered private placement of 8.23 million units priced at 25 cents per unit and 21.3 million flow-through units priced at 41.5 cents.

Kingfisher shares were unchanged Thursday at 27 cents and trade in a 52-week range of 34.5 cents and 13 cents.

The company said initial drilling will focus on the Williams porphyry-gold system testing for extensions of mineralization outside the limits of historical drilling. Two diamond drill rigs are on site with one targeting an area west and up-slope of the known limits of mineralization. The second is focusing on new discoveries in an area west with no historical drilling, targeting an area across the valley with a similar induced polarization (IP) geophysical signature when compared to the Williams porphyry copper-gold system.

Kingfisher is focused on copper-gold exploration in B.C.’s Golden Triangle region. The company has quickly consolidated one of the largest land positions in the region at the contiguous 849-square kilometre Hwy. 37 project. Kingfisher also owns (100%) two district scale orogenic gold projects in B.C. that cover 641 square kilometres.

The Hwy 37 project is host to numerous porphyry and epithermal targets ranging from geochemical anomalies through to the discovery stage. The project hosts multiple ages of mineralization which are also responsible for mineralization at the Shaft Creek, Galore Creek, as well as the Treaty Creek, KSM-Brucejack districts. The northeastern region of the project is underlain by Eskay-equivalent Iskut River Formation, favourable for VMS mineralization.

Historical exploration and work done by Kingfisher has prioritized the Williams, Mary, and Hank areas where all three deposits have returned multiple intercepts over 100 grams. The highlight intercept from Williams returned 347 metres of 0.33% copper and 0.39 g/t gold, including 190 metres of 0.49% copper and 0.57 g/t gold.

Over the last two weeks, camp construction has been completed, wildlife and archaeological surveys have been conducted to pre-clear drill pad locations, and four drill pads have been built with construction of additional pads ongoing.

“I have just returned from a week on site with drilling beginning as I was leaving,’’ said Kingfisher CEO Dustin Perry. “The exploration season is now underway with two diamond drills working around the clock to explore this highly prospective portion of the HWY 37 project,’’ he said. “I will be returning later this week and throughout the field program and the company will continue to update the market on our progress.’’