Kingfisher Continues to Expand its Consolidated HWY 37 Project in the Golden Triangle with the Closing of the Hickman Project Acquisition
Rhea-AI Summary
Kingfisher Metals Corp. (TSX-V:KFR, OTCQB:KGFMF) has completed the acquisition of the Hickman Project from Golden Ridge Resources The transaction involves issuing 256,410 Kingfisher common shares and granting a 2% net smelter return royalty (NSR) to Golden Ridge, with Kingfisher retaining the right to buy back 1% of the NSR for C$5,000,000.
The Hickman Project consists of two claims totaling 3,008 hectares adjacent to Kingfisher's HWY 37 Project in British Columbia's Golden Triangle. The acquisition expands the consolidated HWY 37 Project to 849 km². The project shows promising potential for Cu-Au porphyry systems, with recent rock sampling from 2019 yielding up to 5.3% Cu and 0.28 g/t Au at the undrilled Hickman Target, which spans 5 km and is located 6 km from the Schaft Creek deposit.
Positive
- Expansion of land position to 849 km² in strategic Golden Triangle location
- High-grade copper samples of up to 5.3% Cu from 2019 exploration
- Project located just 6 km from Schaft Creek deposit
- Option to buy back 1% of NSR royalty
Negative
- Share dilution through issuance of 256,410 new shares
- 2% NSR royalty obligation on most of the acquired property
- C$5,000,000 cost to reduce NSR by 1%
News Market Reaction – KGFMF
In the trading session that priced this news, KGFMF gained 7.04%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
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VANCOUVER, BC / ACCESS Newswire / February 20, 2025 / Kingfisher Metals Corp. (TSX-V:KFR)(FSE:970)(OTCQB:KGFMF) ("Kingfisher" or the "Company") is pleased to announce that it has closed the acquisition of the Hickman project (the "Hickman Project") from Golden Ridge Resources Ltd. ("Golden Ridge") (the "Transaction"), which was previously announced on February 6, 2025.
Under the terms of the definitive agreement, the Company issued 256,410 common shares in the capital of Kingfisher to Golden Ridge and granted a
The Hickman Project is comprised of two claims totalling 3,008 hectares and is located immediately west and contiguous with Kingfisher's HWY 37 Project in Northwest British Columbia within the Golden Triangle.
The Hickman Project is highly prospective for Cu-Au porphyry systems and hosts an undrilled copper-gold geochemical anomaly at the Hickman Target that includes recent (2019) rock sampling results of up to
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 copper-gold exploration in the Golden Triangle, British Columbia. The Company has quickly consolidated one of the largest land positions in the region at the contiguous 849 km2 HWY 37 Project. Kingfisher also owns (
For further information, please contact:
Dustin Perry, P.Geo.
CEO and Director
Phone: +1 778 606 2507
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.
View the original press release on ACCESS Newswire