Option to purchase 1% NSR + share payments and exploration expenditure
Kingfisher Metals Inc. https://kingfishermetals.com
Project Overview and History
The Ball Creek East (HWY 37) property covers over 35,000 Ha in British Columbia's Golden Triangle focused around the Main zone (MZ:Mary) a 1,200 by 400 metre porphyry system that has returned drill intersects including 455 metres grading 0.28 grams per tonne gold and 0.11% copper in drill hole BC12-47, and 231 metres grading 0.54 g/t gold and 0.21% copper in drill hole BC07-12. The MZ remains open with anomalous intercepts at the extremities of the drilled area, untested internal areas, and depth potential. Outside of the MZ, the 12 square-kilometre Ball Creek Cluster is defined by highly anomalous copper, gold and molybdenum soil and rock geochemistry with multiple exposures of porphyry-style alteration. The region around Ball Creek East has seen significant infrastructure development for access and power, and major mining company investments.
In March 2023, Orogen optioned the Ball Creek East project to Kingfisher Metals Inc. Under the terms of the Option Agreement, Kingfisher can earn a 100% interest in 35,020 hectares of mineral claims (“Ball Creek East”) by issuing $3.5 million in common shares of Kingfisher and spending $7.5 million in exploration over a four-year period. Upon exercising the Option Agreement, Kingfisher will transfer to Orogen the right to acquire a 1% NSR royalty subject to an underlying agreement. Kingfisher will also grant to Orogen a 1% NSR royalty on Kingfisher’s 28,407-hectare Ecstall volcanogenic massive sulphide (“VMS”) project, located on the central coast in British Columbia on signing the Option Agreement.
Recent Exploration Activities
In 2023, Kingfisher Metals Inc. (TSX.V: KFR) (“Kingfisher”) have optioned Orogen’s Ball Creek East project along with the Hank project (from Goldenridge Resources) to form the HWY 37 project. HWY 37 covers a broad area of porphyry copper-gold and gold-silver epithermal mineralization similar in age and scale to the Treaty Creek-KSM- Brucejack district. Kingfisher completed a six-hole 2,150 metre core drill program on Orogen’s Ball Creek East portion of the HWY 37 property focused on drilling three target areas: the Cliff porphyry, the Mary Root Zone, and the Mary deposit southern step-out. At the Mary deposit, a 100 metre step out to the southwest of previous drilling (M-23-006) returned 438 metres of 0.26 g/t gold and 0.043% copper with epithermal textures consistent with a shallow level of emplacement. This result indicates the exploration potential at depth beneath the barren cover observed at surface. The two holes drilled into the Mary Root zone returned anomalous gold and zinc intervals including 242 metres of 0.16 g/t gold and 0.13% zinc9 potentially representing the flanks or top of concealed copper mineralization. The two holes drilled into the outcropping quartz stockwork at Cliff returned 114 metres of 0.04 g/t gold and 0.11% Cu hosted in a more felsic phase of intrusive interpreted to be a small late intrusive phase. In combination these results outline a large hydrothermal system potentially related to a mineralized porphyry concealed by the extensive region of cover.
Future plans include additional drilling at the Mary porphyry complex and at Hank on the Williams porphyry zone and Hank epithermal target.