Kingfisher Mining Ltd (ASX:KFM) earlier this week outlined progress across its Broken Hill copper-gold and base metals portfolio after completing 24 reverse circulation holes for 2,962 metres during the June 2026 quarter.
Managing director Chris Bittar said the program covered Copper Blow, Stephens Trig and Allendale, with the flagship Copper Blow Copper-Gold Project remaining the company’s main operational focus.
Kingfisher Mining completed 10 holes for 1,576 metres at Copper Blow as part of an infill and extensional campaign designed to support a maiden mineral resource estimate.
Bittar highlighted an intersection of 26 metres at 2.5% copper and 0.75 grams per tonne gold, including 13 metres at 4% copper and 1.2 grams per tonne gold. He described the broader result as a “good broad, high-grade intercept”.
He said the infill work had strengthened the company’s confidence in the developing resource model, while extensional drilling was helping test the mineralised system along strike and at depth.
A key near-term catalyst is the planned continuation of drilling at Copper Blow. Bittar said the next program would concentrate on step-out drilling and testing extensions beyond the current mineralised envelope.
Three anomalous areas identified through geophysical and desktop studies are also expected to be drill-tested. Bittar said the targets formed part of the project’s “blue-sky story”, noting that Copper Blow sits within a four-kilometre magnetic trend that remains largely untested. A further three-kilometre trend extending northeast has also seen limited exploration.
Diamond drilling represents another potential catalyst. The planned work is expected to support preliminary testing of the oxide portion of the mineralised body and provide additional technical information ahead of the targeted maiden resource estimate by the end of 2026.
At Stephens Trig and Allendale, Kingfisher Mining completed follow-up drilling around areas of historical zinc and lead-zinc mineralisation. The programs are intended to build a pipeline of satellite opportunities within the broader Broken Hill portfolio.
Bittar said the company’s mining and processing agreement with Broken Hill Mines could improve the potential economics of smaller deposits by providing access to established infrastructure.
He said Kingfisher Mining would consider the available processing routes after defining the Copper Blow resource, with the company focused on identifying the lowest-capital option capable of supporting an earlier path towards positive cash flow.
Interview highlights
- Kingfisher Mining completed 24 reverse circulation holes for 2,962 metres across Copper Blow, Stephens Trig and Allendale during the June 2026 quarter.
- The flagship Copper Blow program comprised 10 holes for 1,576 metres.
- Copper Blow drilling returned a broad intersection of 26 metres at 2.5% copper and 0.75 grams per tonne gold.
- The broader result included 13 metres at 4% copper and 1.2 grams per tonne gold.
- Infill and extensional drilling is supporting work towards a maiden mineral resource estimate targeted for the end of 2026.
- Further step-out drilling is planned along strike and at depth at Copper Blow.
- Diamond drilling is expected to support preliminary testing of the oxide portion of the mineralised body.
- Drilling at Stephens Trig followed up an area of historically identified zinc mineralisation.
- Work at Allendale aimed to validate and extend historical lead-zinc results, including a reported interval of around 10 metres at 16% combined lead and zinc.
- The Broken Hill Mines mining and processing agreement could provide access to existing infrastructure and support lower-capital development options.
- Three geophysical targets outside the current Copper Blow mineralised envelope are expected to be drill-tested.
- Copper Blow sits within a largely untested four-kilometre magnetic trend, with an additional three-kilometre trend extending northeast.
- The company reported approximately A$1.15 million in cash and also held investments in Dreadnought Resources and Black Cat Syndicate.
Proactive: Kingfisher Mining strengthened its copper, gold and base metals portfolio during the June 2026 quarter. Here to discuss the highlights of the June quarter is managing director Chris Bittar. Chris, good to see you again.
Chris Bittar: Hi, Jonathan. Good to see you too.
Proactive: It is a pleasure to have you here. Let’s talk through the quarter. What were the key operational highlights, and what are you seeing?
Chris Bittar: It was a very productive quarter for Kingfisher Mining. We completed 24 reverse circulation holes across three projects during the quarter.
At Copper Blow, we drilled 10 holes for 1,576 metres. We also went out to two satellite projects, Stephens Trig and Allendale. At Stephens Trig, we drilled five holes for about 580 metres, while at Allendale we drilled nine holes for about 800 metres.
The main focus was the Copper Blow project and progressing it towards a maiden resource. The drilling at Allendale and Stephens Trig was aimed at building the company’s exploration pipeline for the future.
Proactive: This is all part of the Broken Hill portfolio. How are these results advancing that portfolio?
Chris Bittar: Copper Blow is our flagship project in the area at the moment. The latest drilling program included infill and extensional drilling, and it delivered some of the best intersections we have recorded at the project.
The headline result was 26 metres at 2.5% copper and 0.75 grams per tonne gold. That is a broad, high-grade intersection.
Within that interval, we also recorded a higher-grade zone of 13 metres at 4% copper and 1.2 grams per tonne gold.
The infill drilling is helping us build the foundation for the resource, and we are now confident in our understanding of it. The program was also complemented by extensional drilling along strike and at depth as we work to establish how large the system could be.
Proactive: As you mentioned, this work is leading towards a maiden resource.
Chris Bittar: Yes. We are aiming to release the maiden resource by the end of the year.
We have more drilling planned at Copper Blow over the next couple of months. That program will focus on extensions and on determining the potential size of the mineralised system.
We also plan to complement that work with diamond drilling. This will be used for preliminary testing, particularly on the oxide portion of the mineralised body.
That work will help us continue building our knowledge of the system, and all of the information will feed into the maiden resource targeted for the end of the year.
Proactive: You also have assays coming from Stephens Trig and Allendale.
Chris Bittar: The drilling at Stephens Trig and Allendale is following up previous historical drilling.
At Stephens Trig, only around a dozen holes had previously been drilled in the area, where historical work identified zinc mineralisation.
Allendale had seen more drilling and had also been mined historically. One of the headline historical results there was around 10 metres at 16% combined lead and zinc.
We have drilled to validate that result and completed additional holes down dip and along strike from the previous drilling.
This work is helping us build the exploration pipeline. It is also supported by the mining and processing agreement the company has with Broken Hill Mines.
We are trying to identify economic resources that could potentially be treated through an arrangement with Broken Hill Mines.
Kingfisher Mining does not necessarily need to develop standalone projects because the company is not looking to build new infrastructure, processing plants or mills. It may be able to leverage Broken Hill Mines’ infrastructure instead.
That means the company is not necessarily looking for multimillion-tonne deposits. Smaller satellite projects could potentially become economic because of the infrastructure arrangement.
Proactive: As you say, the infrastructure is available through the Broken Hill agreement. The company also had approximately A$1.15 million in the bank, so its position appears relatively strong.
Chris Bittar: We have cash available, as well as investments in Dreadnought Resources and Black Cat Syndicate, so we are well funded going forward.
The current work is focused on progressing towards the resource. Once we have a better understanding of that resource, we can begin looking further ahead at the available processing routes.
We will assess the options and determine the most economical choice. We are looking for a low-capital-expenditure option that could move the company towards a cash-flow-positive position sooner rather than later.
Proactive: You have touched on this already, but what does the next quarter look like for Kingfisher Mining?
Chris Bittar: The remainder of the year will mainly involve further drilling at Copper Blow, particularly step-out drilling.
We have completed geophysical and desktop studies that highlighted several anomalous areas. The geophysical consultant identified three areas for us to investigate, and we plan to drill-test them.
Those areas sit outside the current mineralised envelope, so they represent part of the blue-sky potential at Copper Blow.
The project sits on a four-kilometre magnetic trend that remains largely untested. There is also a three-kilometre trend extending to the northeast that has not been tested.
We will continue developing exploration targets and testing areas that have not previously been drilled.
Proactive: Chris, there is plenty for investors to look forward to over the coming quarter. Thank you for your time today. We will remain in contact as the results come through.
Chris Bittar: Thanks, Jonathan. I look forward to providing another update when the next results come through, hopefully within the next month or so.