Kingfisher Metals (KFR) - Prepping For Drilling This Summer

March 31 2021, 09:44 GMT+01:00

Kingfisher Metals

  • TSX-V: KFR
  • Shares Outstanding: 68.5M
  • Share price C$0.55 (30.03.2021)
  • Market Cap: C$43M

Newly listed Kingfisher Metals is an exploration company focused on 100% owned Copper and Gold projects in British Columbia. The company was founded in 2019 and has 3 high prospectivity projects focused on orogenic Gold and volcanic massive sulphide deposits on Copper and Gold. These are large projects which have the potential for multiple discoveries. 

We met with Dustin Perry, CEO of Kingfisher Metals to discuss their projects and plans going forward.

Company Overview

Kingfisher Metals has put together 3 high-prospectivity projects that are focused on orogenic Gold and volcanogenic massive Sulphide deposits for Copper and Gold. They are large projects with the potential for multiple discoveries at each project. Kingfisher Metals plans to be drilling this summer at Goldrange with a high discovery potential.Kingfisher Metals (KFR) - Prepping For Drilling This Summer

The Ecstall Project is located at tidewater and 60km from the resource town of Kitimat. Ecstall covers the majority of the highly prospective and under-explored Ecstall Greenstone Belt. Historic data compilation and a property-wide VTEM survey have outlined +40 Cu-Au VMS targets.Kingfisher Metals (KFR) - Prepping For Drilling This Summer

The Goldrange Project is located along the same crustal-scale fault network as the Bralorne Mine (Talisker/Osisko). The project covers a significant deformation zone with highly anomalous Au-Ag signatures in historic rock, stream, and soil sampling. The project contains numerous zones of high-grade gold mineralization.Kingfisher Metals (KFR) - Prepping For Drilling This Summer

The Thibert Project straddles the crustal-scale Thibert fault for 25km. The project covers a significant deformation zone with widespread silica-fuchsite alteration, common to orogenic systems. The project is located adjacent to Highway 37 and covers a past and currently producing placer camp with historic production of ~200,000 oz Au.Kingfisher Metals (KFR) - Prepping For Drilling This Summer

Team Experience & Track Record

This is the first public company that geologist and CEO Dustin Perry has led, but make no doubt about it he is a good geologist, with a solid reputation. Dave Loretto, the co-founder, has been involved with a few public companies as a director. The rest of the team have had a lot of experience with Rick Trotman who has worked for RCF for a long time and is now the CEO at Barksdale Resources. Chris Beltgens, the CFO and corporate secretary has worked in a variety of different roles, as an accountant, as a counsel, and as an investment banker in London. They do have a really strong technical team, including the VPX Gayle Febbo, Jim Miller and Greg Liller who between them have about 70 years mining experience.  

Kingfisher Metals started with the Ecstall project which Dustin Perry put together in 2018, and they have since significantly increased the size of it, but have now brought in the 2 other projects which has enabled them to go public.  

Cash Position & Planned Allocation

The company has just over $6M cash at the moment and their priority this summer is exploration at the Goldrange project which will include a proposed 5,000m drill programme and a lot of regional work costing around $4M. Kingfisher Metals had a lot of success in a very limited time with a small team doing regional work this summer and so are very confident they will have a lot more success with the programme this year. At Ecstall, they’re taking a slightly slower approach as it’s a little more expensive to work in that area. And at Thibert, they plan to do their first programme to get some baseline data as they haven’t done much at that project yet.

Goldrange is the project where the bulk of the capital expenditure is planned. They have enough capital for this season and plan to show the market that they are not going to waste money. They need to have some success and once they do so will start to tell the story to the market. 

Strategy & Approach: What Deliverables are Expected?

Kingfisher Metals hopes to be onto a significant system that could have the potential for 4Moz, so needs to show some good intercepts. The work they have done so far indicates these kinds of intercepts which is why they’re getting interest from people like EMX. This is just based on the historic compilation they’ve done on the project as it was an under-recognised type of deposit in BC for a long time. A lot of Gold explorers are keen to go after Porphyry Copper and Gold, or are just in the Golden triangle and a lot of other incredibly prospective ground is ignored.  

Jurisdiction & Infrastructure at Goldrange

A forest service road access within 10km of either end of the Goldrange project provides access. It is a 6 minute helicopter flight into the forest.  Williams Lake is 3-hours away from Goldrange and there are big mines around Williams Lake which is a big resource town. There is a paved road coming to within 30-minutes’ drive of the property with good access up to that 10km point and there is logging right near the edge of the project.  

Management's Commitment to Kingfisher Metals

Dustin Perry and Dave Loretto have both put in around $80,000 to put the Ecstall project together. The first year they worked without a salary and last year, they did take a salary and are both fully committed to the company going forward. 

Growing in Value: Investor Concerns & Timing

The market has reacted really well to this story so far and they need to get out there and tell the story and keep the news flow coming. They need to keep shareholders happy, communicate the message and make sure they trade well on good news.

Opportunity at Goldrange: Data, Drilling, & Development 

There was a lot of historic data from Goldrange that was compiled and digitised and showed a lot of Gold anomalies around the property. Quite a few different zones are defined by samples above 20g/t with very limited work programmes on them. A lot of them had a 3 or 4 day work programmes and some had a couple of seasons, but no drilling was carried out. There was one really standout Gold soil anomaly that caught their attention which was why they picked up the project. They see potential for more of these anomalies and are chasing district-scale projects which might be something that a major will buy. 

The de-risking process at Goldrange began last summer as Kingfisher Metals wanted to create an explanation for the Gold anomaly. It’s on the trend, a long way away but the same structural setting, the same regional district as the Bralorne project, which produced 4.2Moz at 17.7g/t in the camp where Osisko is exploring and Endurance Gold with Reliance is finding another system. They’ve gone through all the data in detail so they can prepare their own project which is massive and under-explored. Kingfisher Metals see a big opportunity at Goldrange and the work they did last summer evaluated the individual showings. The bulk of the work was focused on understanding the big Cloud Drifter trend anomaly and getting it ready for drilling. They’re 95% of the way there and just need to do a little bit of IPG physics which will be the final component needed before they drill it. Kingfisher Metals (KFR) - Prepping For Drilling This Summer

2021 Expectations & Timing of Results

The field programme from last summer went well for the company and they will be releasing that news in the coming weeks and months. They have come out of the gate really strong and they have some exciting projects to work on going forward. They are planning to start the field programme in early-May. They are in the final stages of getting their permit and will have everything ready for drilling in July.

The contractors are lined up and if all goes according to schedule, there could be assay results coming in as early as early-September, but there’ll be a lot of other field data coming through before that, plus all the field results from last year. A lot of news flow is expected this summer.

To find out more, go to Kingfisher Metals' Website.

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