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 May 2023, Kingfisher outlined plans for a 2500 metre drill program focussed on the Main Zone.