Kingfisher to drill 2,500 m at Hwy 37 this year
2023-05-04 07:29 ET – News Release
Mr. Dustin Perry reports
KINGFISHER PROVIDES TECHNICAL UPDATE ON HWY 37 PROJECT
Kingfisher Metals Corp. has provided a technical update on the Hwy 37 project that includes drill targets for the 2023 field program.
Highlights:Targeting work includes 3D inversions of historical IP geophysical data which has outlined untested anomalies flanking the Mary porphyry deposit.Proposed drilling (~2500 m) in 2023 will focus on the Mary to Cliff porphyry trend.Detailed analysis of the porphyry Cu-Au potential on the project is provided in video format.
Summary
The HWY 37 Project is a district-scale (362 km2) porphyry Cu-Au and epithermal Au-Ag project located within the Golden Triangle, northwestern British Columbia.
Planning for the 2023 field season at the HWY 37 Project is currently underway and it is expected to begin in July and includes ~2500 m of diamond drilling between the Mary Cu-Au porphyry deposit and the Cliff gossan (Figure 1). This broad area sits within a ~6 by 6 km area of alteration and geochemical anomalism favourably located ~9 km from Highway 37. Texas Creek intrusions at the HWY 37 Project are also responsible for porphyry Cu-Au mineralization at Treaty Creek and KSM projects. The Company notes that mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the HWY 37 Project. Figure 1: HWY 37 View
Historical work programs at Mary include 13,506 m of diamond drilling which has defined a zone of porphyry Cu-Au mineralization over 1300 m by 600 m. Drilling focused on outcrop mineralization at the Mary deposit (‘Main Zone’, or ‘Ball Creek’) with the majority of work focused on the shallow gold-rich portions of the porphyry system (Figure 2). Low angle copper and gold metal patterns are identified in the Mary deposit, which project untested under a unit interpreted as post-mineral volcanic cover. Comparable metal patterns are common to other system in the region including Treaty Creek and KSM projects. Figure 2: Mary Zone: SW Drill Area
Drilling in 2023 will focus on the lateral extents of the Mary porphyry system where the Company believes there is potential for discovering a lower level, copper-rich body. The Company recently completed a 3D inversion of historical IP geophysical data which shows a strong correlation between resistivity and historically defined mineralization (Figure 3). The target area (Figure 4) lies south of the area of historical mineralization and hosts a large (600 m by 600 m) resistive body which is open at depth. On trend and south of Mary and the resistivity target lies the Cliff gossan where mapping outlined a body of potassic-altered porphyry stockwork mineralization in outcrop.
A discussion of the drill targets at the Mary deposit as well as other targets on the HWY 37 Project is summarized in a video presentation. Figure 3: Mary Zone: IP Geophysics Figure 4: Mary Zone: Target Area
AuEQ values were calculated the following metal prices: Au = $1900.00/oz, Cu = $4.00/lb, and Ag = $25.00/oz. No current or historical metallurgical work has been completed on the mineral deposits within the Project and as such recoveries are assumed to be 100%. The formula used to calculate the equivalent values for the porphyry targets is AuEQ g/t = Au g/t + (Cu % * 1.4436) + (Ag g/t * 0.0132). The formula used to calculate the equivalent values for the epithermal targets is AuEQ g/t = Au g/t + (Ag g/t * 0.0132).
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, including the Golden Triangle region. Kingfisher has three 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 106,628,701 shares outstanding.
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