Kingfisher Closes Acquisition of the LGM Project in the Golden Triangle, British Columbia
Kingfisher Metals has completed its acquisition of the LGM Project from Origen Resources, as initially announced in June 2024. The transaction involved Kingfisher issuing 3,000,000 shares and paying C$75,000 to Origen. The LGM Project, spanning 26,771 hectares, expands Kingfisher's holdings in British Columbia's Golden Triangle from 362 km2 to 630 km2. The acquisition includes targets akin to KSM in the west and Galore Creek in the central region, with unexplored Eskay Creek-type stratigraphy to the east. Notable highlights include historical trench sampling at the Grizzly Target, which yielded 0.74% Cu and 1.09 g/t Au over 38 meters. Additionally, stream sampling at Lucifer identified a 4 km-long trend with samples grading up to 7.8 g/t Au. The LGM Project is fully permitted for diamond drilling and holds significant discovery potential for Galore Creek-type porphyry systems.
- Acquisition expands Kingfisher's holdings in the Golden Triangle to 630 km².
- Historical sampling at Grizzly Target returned 0.74% Cu and 1.09 g/t Au over 38 meters.
- Stream sampling at Lucifer outlined a 4 km-long trend with samples up to 7.8 g/t Au.
- LGM Project is fully permitted for diamond drilling.
- Issuance of 3,000,000 shares may lead to shareholder dilution.
- Potential financial strain due to C$75,000 cash payment and ongoing project costs.
VANCOUVER, BC / ACCESSWIRE / July 10, 2024 / Kingfisher Metals Corp. (TSXV:KFR)(FSE:970)(OTCQB:KGFMF) ("Kingfisher" or the "Company") is pleased to announce that it has closed the acquisition of the LGM Project from Origen Resources Inc. ("Origen"), which was previously announced on June 6, 2024. Under the terms of the definitive agreement, the Company issued 3,000,000 common shares in the capital of Kingfisher to Origen and paid C
The 26,771 Ha LGM Project is located immediately south and contiguous with Kingfisher's HWY 37 Project, in Northwest British Columbia within the Golden Triangle. In addition, the LGM Property is subject to underlying royalty agreements over different parts of the project that range from 1 to
LGM Project Highlights
Expansion of contiguous holdings in the Golden Triangle from 362 km2 to 630 km2 including KSM-type targets in west, alkalic Galore Creek-type targets in central region (Grizzly and Lucifer) and unexplored Eskay Creek-type stratigraphy to the east.
Grizzly Target trench sampling from 2006 returned
0.74% Cu and 1.09 g/t Au over 38 m.The LGM Project represents one of only three silica-undersaturated magmatic-volcanic complexes in the Golden Triangle with discovery potential for Galore Creek-type porphyry systems and has only seen 3,988 m of drilling.
Historical stream sampling at Lucifer outlined a 4 km-long trend of highly anomalous stream sediment samples grading up to 7.8 g/t Au - similar in strength and scale to the Hank epithermal deposit signature at HWY 37.
LGM Project is fully permitted for diamond drilling.
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, including the Golden Triangle region. Kingfisher has two
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
Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company's property. This news release contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur.
The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
SOURCE: Kingfisher Metals Corp.
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FAQ
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