Kingfisher Metals Corp. Receives Drill Permit and Provides Corporate Update
VANCOUVER, May 4, 2021 - Kingfisher Metals Corp. (TSXV:KFR)(FRA:970) ("Kingfisher" or the "Company") is pleased to announce its plans for the 2021 exploration season on its three 100% owned projects in British Columbia. The Company has been informed that its Notice of Work Application for a 5-year drill permit at its Goldrange Project in southwest British Columbia has been approved. The Goldrange Project is located approximately 25km south of the town of Tatla Lake with logging road access to the north end of the 367km2 project.
The multiyear area based (MYAB) permit for the Goldrange Project includes diamond drilling from 20 drill pads and induced polarization (IP) geophysical surveys in year one.
The proposed exploration program at the Goldrange Project will include 5000m of diamond drilling, IP surveys, and detailed regional exploration across the 367km2 project. The Company has contracted Omineca Diamond Drilling to complete the drill program which will begin in early July with the proposed program totalling ~$3.3 million. Camp construction, regional field work, and IP geophysics are expected to commence in May.
The 284km2 Ecstall Project is located at tidewater, 60km northwest of the resource town of Kitimat, B.C. The Company will undertake a property-wide LiDAR survey in addition to detailed gravity geophysical surveys over high-priority Cu-Au VMS targets in preparation for drilling in 2022. The proposed program totals ~$0.4 million and is expected to commence in mid-July.
The 124km2 Thibert Project is located 40km north of Dease Lake, B.C. The project covers 25km of strike length of the crustal-scale Teslin-Thibert Fault where approximately 200,000 oz of placer gold has been produced. The Company has contracted Precision GeoSurveys to complete property-wide airborne magnetics and radiometrics at Thibert. Additionally, detailed stream-sediment sampling will be completed across the project area aimed at refining orogenic gold targets for more advanced exploration in 2022. The proposed program totals ~$0.3 million and is expected to commence in June or July.
"2021 is going to be a very exciting year for Kingfisher as we advance all three of our 100% owned projects. We are very excited to complete the first-ever diamond drill program on the Goldrange Project which will test the highly prospective Cloud Drifter Trend. Additionally, we will be completing detailed regional exploration across the district-scale project. While this is happening, we will be further advancing our Ecstall and Thibert Projects and continuing to deliver value to our shareholders." Stated Dustin Perry, CEO.
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 68,945,801 shares outstanding.
For further information, please contact:
Dustin Perry, P.Geo.
CEO and Director
Phone: +1 236 358 0054
E-Mail: info@kingfishermetals.com
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
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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SOURCE: Kingfisher Metals Corp.
