Kingfisher Samples up to 20.1 g/t Gold in Rock and 8.4 g/t Gold in Talus Fines from New Discovery
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VANCOUVER, May 13, 2021 - Kingfisher Metals Corp. (TSXV:KFR)(FSE:970) ("Kingfisher" or the "Company") is pleased to announce sampling results from the newly discovered Day Trip Zone which is located ~3.5 km southeast of the Cloud Drifter Trend on the Goldrange Project. The Goldrange Project is located approximately 25 km south of the town of Tatla Lake with logging road access to the north end of the 367 km2 project.
Highlights:
- Discovery of a 90 x 70 m zone of extensive gold bearing sulfide-cement breccias in float with grades up to 20.1 g/t Au.
- Discovery of sheeted quartz-sulfide veins up to 6.7 g/t Au in outcrop.
- Open-ended talus fines anomaly up to 8.4 g/t Au.
- Identification of a previously unrecognized intrusive-hosted orogenic gold system similar in style and scale to the Cloud Drifter Trend.
"The Day Trip Zone was discovered over a 3-day trip last summer when David Loretto, Kingfisher's President, and I camped in the alpine to try and explain a conspicuous gossan we had seen from the air. The discovery of this new zone of high-grade gold mineralization ~3.5 km away from the nearest sample at the Cloud Drifter Trend highlights the regional prospectivity of the Goldrange Project." Stated Dustin Perry, CEO.
The Goldrange Project covers a significant deformation zone with numerous precious metal veins across the project. Mineralization at Goldrange occurs as orogenic gold and intrusion-related gold systems. Several areas of historical hand mining are located within the project and date back to the 1930s.
The Day Trip Zone was discovered by prospecting a gossan formed from hornfels alteration of sedimentary rocks intruded by a Bendor Suite monzonite intrusion. The area is situated on flat to low angled slopes on a mountain approximately 3.5km to the southeast of the nearest samples within the Cloud Drifter Trend in an area with no documented historical exploration.
Ridgetop talus fine sampling (85 samples) revealed an area over 500 m long of high-contrast gold anomalism (figure 1) with coincident anomalous Ag, As, Sb, Cu, Bi, Hg, Te, and W. Talus fine sampling includes values from below detection limit to 8386.2 ppb Au (8.4 g/t Au) with 2 samples over 1 g/t Au and 9 samples over 0.5 g/t Au.
Figure 1: 2020 Talus Fine Samples
Rock sampling (figure 2) at the Day Trip Zone outlined a 90 x 70 m zone of arsenopyrite-cement breccia interpreted to be subcrop. The zone is located on an alpine plateau where transport of the material is unlikely. Within the area of anomalous gold in talus fines, sulfide-cemented breccia rubble comprises ~20% of all rock in the area. Subcrop material of sulfide-cemented breccia are up to 1m in length and 40 cm wide. This zone of sulfide mineralisation is highly anomalous in gold with grades from 3.4 g/t Au up to 20.1 g/t Au with coincident highly anomalous pathfinders (Ag, As, Sb, Cu, Bi, Te, Zn, and W).
To the west and slightly down slope of the area of sulfide-cement breccia is an area of intrusive-hosted sheeted quartz veins. Quartz veins textures are indicative of a high-level epizonal setting and are up to 2m wide. Within this area, samples range from below detection limit to 6.7 g/t Au. The area has limited outcrop exposure with extensive quartz vein subcrop, potentially indicating that veins are more common than seen in outcrop. Additionally, a float sample of sulfide-cement breccia occurs downslope of this area and returned 18.2 g/t Au and potentially indicates a second breccia body to the west.
Figure 2: 2020 Rock Samples
Geological mapping of the Day Trip Zone revealed a similar geological and structural setting (figure 3) to the Cloud Drifter Trend. A Bendor Suite monzonite intruded Cloud Drifter Formation sedimentary rocks which overlaps with a regional-scale dextral faulting event which is associated with gold mineralization within the Yalakom Gold Belt.
A more detailed presentation of the results included with this release can be found on the Company's website: Day Trip 2020 Rock and Talus Sampling Results. Additionally, Dustin Perry and Gayle Febbo discuss the presentation in more detail: Goldrange: Day Trip 2020 Rock and Talus Sampling Results - YouTube.
Figure 3: Geology
Quality Assurance and Quality Control
Soil samples weighing approximately 250 grams per sample were delivered by company personnel to Acme Labs, a division of Bureau Veritas, located in Vancouver, BC, an ISO9001:2008 accredited laboratory. The soil samples were prepared using the SS80 method by drying them at 60?C and sieving to less than 180 μm (80 mesh). A 30 gram split of the sieved soil sample was then subjected to a modified aqua regia digestion (1:1:1 HNO3:HCl:H2O) and analyzed for 37 major and trace elements using ICP-ES/MS (method code AQ252). Field duplicates were collected and submitted every 40 samples.
Rock samples were submitted to Acme Labs, a division of Bureau Veritas, located in Vancouver, BC, an ISO9001:2008 accredited laboratory. The rocks samples were prepared using the PRP70-250 method by crushing 1.0 kg of rock to =>70% passing through a 2 mm sieve. Two hundred and fifty grams was then pulverized so that =>85% passes through a less than 75 μm sieve. A 0.25 g split was then subjected to a 4 acid near total digest where the split is heated in a HNO3, HClO4 and HF solution to fuming, dried and then dissolved in HCL. The resulting solution was then analyzed for 45 major and trace elements using ICP-ES/MS (method code MA200). A 30 g split was analyzed for gold using a lead collection fire assay fusion that was then digested and analyzed using AAS (method code FA430).
A 30 g split of samples that assayed >10ppm gold and/or >200ppm Ag were analyzed using a lead collection fire assay fusion with a gravimetric finish (method code FA530). Samples that assayed for >200 ppm W, > 4000ppm Bi, Mo, Sb, >10000 ppm Cu, Pb or Zn were digested using a HNO3, HClO4 and HF solution to fuming, dried and then dissolved in HCL. The resulting solution was then analyzed using ICP-ES (method code MA370). Samples that assayed > 10000 ppm As were digested using a modified aqua regia digestion (1:1:1 HNO3:HCl:H2O) and analyzed using ICP-ES (method code MA370).
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.
SOURCE: Kingfisher Metals Corp.
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