Kingfisher Metals (KFR) - End of Year Update & Investor Meetings, London

Kingfisher Metals is a forward-thinking exploration company focused on efficiently and systematically exploring its district-scale Gold and Copper properties. Through exposure to high-grade gold and copper, Kingfisher Metals is well-positioned for growth during the next up-cycle in commodities. 

Matt Gordon caught up with Dustin Perry, Founder, CEO, and Director, Kingfisher Metals. Dustin is an exploration geologist and entrepreneur with over 13 years of experience in the mining sector. He has worked on more than 50 exploration projects in British Columbia, Yukon, and Mexico. His educational credentials include a B.Sc Geology degree from the University of British Columbia. He is a registered professional geologist with the Association of Professional Engineers and Geoscientists of British Columbia. 

Company Overview

Kingfisher Metals is an exploration company focused on efficiently exploring its district-scale gold and copper properties. The company was founded in 2017 and is headquartered in Canada. The company is listed on the Toronto Stock Exchange (TSX-V: KFR), the Frankfurt Stock Exchange (FSE: 970), and the OTC Markets (OTCQB: KGFMF). The company's major assets include the Goldrange Project, the Ecstall Project, and the Thibert Project. 

Kingfisher Metals is a British-Columbia-focused company that was founded by geologists for the sole purpose to make discoveries at the Goldrange project, a district-scale high-grade gold project located in south-western British Columbia. The company is planning to carry out an aggressive drill program in 2022. This program will enable the company to test the remaining anomaly at the project. 

The company's management recently had a meeting with its pre-existing shareholders. A major part of the company's investor base is institutional along with 2 retail investors. The company has been successful in de-risking the project and recently made a grassroots discovery at the Goldrange project. Due to the weather conditions, the company is able to drill between May-October. The company has also carried out extensive exploration on its Ecstall and Thinbert projects. 

Cash Position

Kingfisher Metals recently raised $4.7M in capital by way of charity flow-through funds. A major part of this capital was raised via charity flow-through funds, where the shares were purchased at a 41% premium to the backend price. These are then donated to a charity, enabling buyers to attain tax credit. Following this, the charity sells the shares back to the backend buyer at a discount while still making a profit. It is mandatory that capital raised by flow-through funds is spent on exploration. As the company's project is de-risked along with a proven concept, it provides a significant upside for new investors. 

Kingfisher Metals currently has $5M in cash flow. The company anticipates that before the commencement of its next drill program, gold prices might cross the $2,000 mark. The company is yet to explore the 10 drill holes further. The company plans to initiate the next phase of drilling in May 2022. The company plans to finalize the budget before commencing the drill program. The main drill targets are the areas surrounding the breccia body, this will enable the company to demonstrate the presence of gold. Following this, the company will test out other targets at the deposit. 

The Goldrange Project

Kingfisher Metals successfully drilled 5,000m over 14 holes at the Goldrange project. It hit broad regions of mineralization present near-surface. Following this, the company released a high-grade interval at 9m of 6.8g/t. The drilled holes were parallel to the slope of a mountain, at a depth of 150m from the surface. The drill results showed a significant scale of alteration along with evidence of a large underlying gold system. The company has been able to test 10% of the anomaly so far and is anticipating the presence of a large gold deposit. 

At the Goldrange project, the company has identified numerous targets occupying just 1% of the land package. It has tested about 10% of the Cloud Drifter Trend with wide-spaced drilling. The Goldrange project is largely unexplored and the company has plans to carry out 3D structural modeling on the deposit during the winter. The company is focusing on smaller areas at the deposit to increase the odds of discovering new targets. The company also found multiple adits within the mineralization trend which is yet to be drill-tested. 

As this was the first pass on the deposit, the company wasn't looking to drill all the best targets, retaining high-grade targets for the future. The company has a risk-averse strategy to target smaller areas to gain a better insight on the underlying deposit. Once these targets are identified, the company is looking to expand these deposits. 

Kingfisher Metals anticipates that the ore body at the Goldrange project would be largely underground. The company has identified the presence of larger volumes of anomalous rock. The company anticipates the presence of high-grades once additional drilling is carried out. 

Kingfisher Metals has royalties on parts of the Goldrange project. Hence the company isn't looking to spin it out. The company intends to increase the value of the project through low-cost exploration. The company is currently awaiting assay results for a bulk of its remaining drilling, as well as its regional data. 

The Thibert Project

This project covers a 25km strike length along a major fault. It is a part of a placer district which has been a producer since the 1870s. This site has produced over 200,000oz of supply over the years and is actively producing. 

Kingfisher Metals has carried out a detailed stream sediment and airborne magnetics survey at the site and is currently evaluating plans to advance the project in 2022.

The Ecstall Project

Kingfisher Metals has carried out extensive work at this project. A property-wide VTEM survey was done in 2019, outlining 40 targets. This led to the identification of outcropping VMS (Volcanogenic Massive Sulfide) targets featuring over 3% copper. 

The company also carried out a ground gravity survey on its 2 top targets featuring strong conductors. The company is currently looking to make these targets drill-ready. 

Kingfisher Metals is not looking to develop the project. The company has carried out extensive work to demonstrate the asset value. It has been approached by majors in the past and is open to the idea of spinning-out the project into a new company. This is a strong consideration as the Ecstall project has no royalties in place, providing optionality to the company.

Targets 2021 and Beyond

Kingfisher Metals made a significant grassroots discovery with minimal drilling. The company plans to carry out additional drill programs in the coming years.

To find out more, go to the Kingfisher Metals Website