Kingfisher Mining Ltd (ASX:KFM) earlier this week reported some of the strongest copper-gold results recorded at its Copper Blow project near Broken Hill, adding momentum to the company’s plans for a maiden mineral resource estimate.
Reverse circulation drilling in the North Zone returned 26 metres at 2.57% copper and 0.75 grams per tonne gold from 73 metres. The interval included 13 metres at 4.07% copper and 1.20 grams per tonne gold, with a higher-grade section of 4 metres at 7.06% copper and 2.38 grams per tonne gold.
A second hole intersected 43 metres at 1.32% copper and 0.32 grams per tonne gold from surface, including 17 metres at 2.46% copper and 0.60 grams per tonne gold from 16 metres.
Kingfisher Mining managing director Chris Bittar said the company was “very excited and very encouraged by these results”, pointing to the width, continuity and shallow nature of the mineralisation.
Bittar said the presence of higher-grade zones within the broader intersections was particularly important as the company continued building its geological model and working towards an initial resource.
He described the results as “good high-grade, wide, continuous zones”, which represented the type of mineralisation the company wanted to establish ahead of the resource estimate.
The next phase of work is expected to include further reverse circulation and diamond drilling. Bittar said diamond core would primarily be used for metallurgical test work on the oxide, transitional and sulphide mineralisation observed at Copper Blow.
The company has identified malachite in the oxide and transitional zones and chalcopyrite in the sulphide mineralisation. Metallurgical testing is expected to assess whether standard processing methods are suitable.
A further potential catalyst is Kingfisher Mining’s agreement with Broken Hill Mines. Bittar said the arrangement could provide a lower-capital and quicker pathway to production through access to existing mining and processing infrastructure in Broken Hill.
He described the agreement as “the backbone” of the project and noted that Broken Hill Mines was already the company’s joint venture partner at Copper Blow.
Beyond the current drilling area, geophysical targeting has identified additional anomalies outside the existing mineralised envelope.
Copper Blow also sits on a four-kilometre magnetic trend that remains largely untested. Once the initial resource has been established, Kingfisher Mining plans to assess the trend for possible repeat structures and further mineralised zones.
Near-term catalysts therefore include updated geological modelling, drilling approvals, the next reverse circulation and diamond program, metallurgical results and completion of the maiden mineral resource estimate.
Interview highlights
- Kingfisher Mining reported a standout intersection of 26 metres at 2.57% copper and 0.75 g/t gold from 73 metres at Copper Blow.
- The interval included 13 metres at 4.07% copper and 1.20 g/t gold, with a higher-grade section of 4 metres at 7.06% copper and 2.38 g/t gold.
- Another hole returned 43 metres at 1.32% copper and 0.32 g/t gold from surface, including 17 metres at 2.46% copper and 0.60 g/t gold.
- Chris Bittar highlighted the shallow, broad and continuous nature of the mineralised zones.
- The company is working towards a maiden mineral resource estimate by the end of the year.
- Planned work includes further reverse circulation and diamond drilling, geological modelling and metallurgical test work.
- The agreement with Broken Hill Mines may provide access to existing infrastructure and a potential lower-capital pathway to production.
- Additional geophysical anomalies and a largely untested four-kilometre magnetic trend provide further exploration upside.
Proactive: Kingfisher Mining Ltd (ASX:KFM) has delivered some of the strongest copper-gold results recorded at its Copper Blow project near Broken Hill, extending high-grade mineralisation and strengthening the case for a maiden mineral resource estimate. Here to discuss the company and these results is managing director Chris Bittar. Chris, good to see you again.
Chris Bittar: Thanks for having me, Jonathan. I’m excited to be here. It is an exciting time.
Proactive: Before we get into the results at Copper Blow, can you give us a quick overview of Kingfisher Mining?
Chris Bittar: For those tuning in for the first time, Kingfisher Mining is a listed copper-gold explorer with projects in New South Wales.
The company’s flagship asset is the Copper Blow project, about 20 kilometres south of Broken Hill. It also has a broader portfolio to the north of Broken Hill comprising lead, zinc and silver projects, as well as copper-gold projects in the Cobar and Wellington regions.
The immediate focus is advancing Copper Blow towards a maiden mineral resource estimate.
Proactive: Let’s talk about Copper Blow. The latest results included 26 metres at 2.57% copper and 0.75 grams per tonne gold. What did you see in the drilling?
Chris Bittar: We are very excited and encouraged by these results.
As you mentioned, we returned 26 metres at 2.57% copper and 0.75 grams per tonne gold. We also recorded 43 metres at 1.32% copper and 0.32 grams per tonne gold.
These are broad, continuous, high-grade mineralised zones that are shallow and close to surface.
Encouragingly, there are also some very high-grade sections within those broader zones. One interval returned 13 metres at 4.07% copper and 1.20 grams per tonne gold, while a higher-grade section within that returned 4 metres at 7.06% copper and 2.38 grams per tonne gold.
These are the types of wide, continuous and high-grade zones we want to see as we work towards a mineral resource estimate.
Proactive: It is also important to highlight the company’s agreement with Broken Hill Mines.
Chris Bittar: That agreement is the backbone of the project.
It provides a potential lower-capital and quicker pathway to production because Kingfisher Mining may be able to use existing mining and processing infrastructure in Broken Hill.
Broken Hill Mines is already the company’s joint venture partner at Copper Blow, so the companies have an established relationship that has been strengthened further through the processing agreement.
Proactive: What comes next for Kingfisher Mining?
Chris Bittar: The company will incorporate the latest results into its geological model and continue planning the next phase of drilling.
The approvals process is underway, and Kingfisher Mining is finalising access arrangements. The next program is expected to include a combination of reverse circulation and diamond drilling.
The diamond drilling will primarily support future metallurgical test work. We have seen malachite mineralisation in the oxide and transitional zones, as well as sulphide mineralisation in the form of chalcopyrite.
The company needs to complete testing to validate what has been observed in the drilling. We are confident that standard processing methodologies may be suitable, but Kingfisher Mining still needs to complete the appropriate due diligence.
This work is all progressing towards a maiden mineral resource estimate by the end of the year.
Geophysical targeting has also highlighted additional anomalies outside the current mineralised envelope at Copper Blow.
The project sits on a four-kilometre magnetic trend that remains largely untested. After establishing the initial resource, the company plans to investigate whether there are repeat structures and determine what else the broader trend may contain.
Proactive: There is certainly a lot to look forward to. We will speak again as the work unfolds. Chris, thanks for your time today.
Chris Bittar: Thanks, Jonathan. I look forward to providing the next update. It is a very exciting time.