Kingfisher Hits 38.5 g/t Gold—but Says the Big Prize Is Still Ahead

Trevor Hall (0:19)

All right, moving right along here with day two of the Beaver Creek Precious Metals Summit, and we are getting an update here from Kingfisher Metals. New trade on the venture with KFR and on the OTCQX with KGF MF. It's a long overdue update here from the HWY 37 Project, but for good reason, and we'll more on that later. But they did put out a headline hole of 8.8 meters of 38.5 grams per ton, gold equivalent. That was within 27 meters of 13.6 grams per ton, gold equivalent. Happy to welcome in my buddy, Dustin Perry. Dustin, welcome back to Colorado.

Dustin Perry (0:55)

Yeah, thanks Trevor.

Trevor Hall (0:56)

Yeah, nice little arsenal of news here for you.

Dustin Perry (0:58)

Yeah, we need to get something out. So we rushed 27 meters out of about 1000 meter hole. Hard not to, when you see VG, you rush it. But yeah, I think we're at around probably 11,000 meters of drilling so far, and four rigs still turning, and only 27 meters of assays have been released.

Trevor Hall (1:19)

Yeah. So maybe talk about this hole, this hole 15

You rush the assays, the early part of the hole. But maybe what's the general target that you're going after?

Dustin Perry (1:29)

So we were following up on the porphyry discovery we made last year. So last year, we made a blind discovery, drilling underneath this large hank epithermal system. We drilled 425 meters of 0.4 copper equivalent. This hole was trying to get in to the porphyry, so we drilled a couple of hundred meters up slope of that discovery hole.

At depth, it did get into the porphyry, but along the way there, we serendipitously hit this vein that we weren't targeting, which I think, as a geologist, explorationist, I think the significance of that, it's more significant than just the headline number. It's just you don't stumble across veins like that, and you don't stumble across veins like that in a mature district, but also it shows how underexplored the hank area is and you can tell if you actually look at the scale bar on a map, the gaps between historical drilling. So it shows that, but it also shows the fertility of the system, and strong systems impressed to the upside like that. So it's a very, very good indicator.

Trevor Hall (2:41)

I don't want to be completely naive about it, but sometimes in exploration, luck comes in. Do you feel a little bit of luck here?

Dustin Perry (2:46)

Yeah, yeah, no, luck definitely comes in, but like when you got a good project, you're going to get lucky more often.

Trevor Hall (2:53)

But lucky enough to, is it worth following up? The grand prize continues to be the porphyry?

Dustin Perry (2:59)

No, no, no, no.

Trevor Hall (3:00)

You don't think so?

Dustin Perry (3:00)

No, and like, I know that our, I think most of our retail shareholders have latched on to that, which like fair enough, like the porphyry is an incredible prize, and we have incredible porphyry targets, and we like what we're seeing right now.

But we were very clear, you know, when we announced our program, that we were not just targeting the porphyry, that we were also testing predominantly the high-solidation gold system. So let me just frame this a little bit. So we've got tons of porphyry targets across, you know, our massive landholding in the Golden Triangle, and we're focused within maybe a third of the Hank Mary district. So the, I guess, the southern two-thirds of the Hank area. And Hank was always known as a gold system. And then there was, Williams was found, it was outcropping in the creek in the Valley Bottom. Then we made this other discovery. But there's a few other porphyry centers further along trend. And like Mary's, there's an intercept of 0.7 gold of covalent over about 300 meters from the surface. So like there's a lot going on here. It's gonna take us years to follow up on this, hopefully not that many years before we attract, you know, a bigger check than what Barrick wrote for us. But the one thing that excites them and other corporates is the preservation and the fact that you have just a skiff of the bare and litho cap on the ridges, but then you transition into high sulfidation. So that would be a bulk tonnage disseminated gold target.

And then you've got these intermediate sulfidation veins that would be more proximal to the porphyry. And when you're seeing more copper in them, which we did, so this is by far the highest high-grade copper intercept, the 3% copper in there.