Kingfisher Mining Ltd (ASX:KFM) earlier this week outlined encouraging silver-lead-zinc drilling results from its Stephens Trig and Allendale prospects near Broken Hill, while flagging drilling and resource work at the flagship Copper Blow copper-gold project as key upcoming catalysts.
Managing director Chris Bittar said the latest program was designed to validate historical drilling, confirm grade continuity and test the potential extension of mineralisation along strike and down dip.
At Stephens Trig, where Kingfisher conducted the first drilling since 2017, the company completed five holes for around 580 metres. Results included five metres at 7.4% lead-zinc with 10 grams per tonne silver, including a higher-grade two-metre interval at 7.5% lead-zinc and 24 grams per tonne silver.
A separate intersection returned one metre at 198 grams per tonne silver, which Bittar highlighted as evidence of the high-grade silver potential within the system.
Allendale also delivered encouraging results, including nine metres at 8% lead-zinc and 18 grams per tonne silver. That interval contained five metres at 10% lead-zinc and 23 grams per tonne silver, while historical drilling had previously intersected mineralisation of up to 10 metres at 16%.
Kingfisher holds 75% of Stephens Trig and Allendale, with Broken Hill Mines holding the remaining 25%.
Bittar said the projects were particularly attractive because of the mining and processing agreement with Broken Hill Mines. He said Kingfisher was targeting shallow, high-grade mineralisation close to existing infrastructure and described the strategy as offering a potentially “low-capex, quick pathway to production”.
The broader exploration position also provides scope for further discoveries, with Kingfisher holding about 400 square kilometres of ground in the Broken Hill area. Bittar said the company intended to progressively assess additional targets with the aim of building a pipeline of potential mill feed.
Attention is now shifting toward Copper Blow. Kingfisher has received formal drilling approval and is working to secure a rig for planned diamond and RC drilling, with Bittar indicating that drilling could begin around October.
Other potential catalysts include results from recently commenced metallurgical sampling and test work, further target generation along Copper Blow’s four-kilometre magnetic trend and progress toward a maiden resource, which Kingfisher is aiming to complete by the end of the year.
Interview highlights
- Kingfisher Mining completed its first drilling at Stephens Trig since 2017, with the program designed to validate historical drilling, confirm grade continuity and test extensions to mineralisation.
- Kingfisher holds a 75% interest in Stephens Trig and Allendale, while joint venture partner Broken Hill Mines holds 25%.
- Stephens Trig is around 10 to 15 kilometres north of Broken Hill, while Allendale is approximately 40 kilometres north.
- Allendale drilling returned nine metres at 8% lead-zinc and 18 grams per tonne silver, including five metres at 10% lead-zinc and 23 grams per tonne silver.
- Historical drilling at Allendale had previously returned mineralisation of up to 10 metres at 16%.
- At Stephens Trig, Kingfisher drilled five holes for approximately 580 metres.
- Stephens Trig results included five metres at 7.4% lead-zinc and 10 grams per tonne silver, including two metres at 7.5% lead-zinc and 24 grams per tonne silver.
- A standout Stephens Trig intersection returned one metre at 198 grams per tonne silver.
- Bittar said Stephens Trig and Allendale could add potential feed to the Broken Hill mill under the company’s existing mining and processing agreement.
- Kingfisher is targeting shallow, high-grade mineralisation close to established infrastructure, which Bittar said could support a lower-capex and faster pathway to production.
- The company has around 400 square kilometres of ground in the Broken Hill area and plans to continue building its exploration target pipeline.
- Kingfisher will focus its funds and exploration efforts on the Copper Blow copper-gold project for the remainder of the year.
- Formal drilling approval has been received from New South Wales Resources, with Kingfisher seeking a rig for diamond and RC drilling and targeting a start around October.
- Metallurgical sampling and test work has commenced, with results expected to provide another source of project news.
- Kingfisher is assessing geophysics, soil results and historical data along Copper Blow’s four-kilometre magnetic trend to identify additional drilling targets.
- The company is targeting completion of a maiden resource at Copper Blow by the end of the year.
Proactive: Kingfisher Mining has confirmed high-grade silver-lead-zinc mineralisation at Stephens Trig and Allendale. With me to discuss these results is managing director Chris Bittar. Chris, good to see you again.
Chris Bittar: Hi, Jonathan. Thanks for having me. Good to see you too.
Proactive: It’s a pleasure to have you. Let’s talk through these results. It’s the first drilling at Stephens Trig since 2017. Talk us through the overall results and what you’re seeing.
Chris Bittar: During May and June, off the back of some drilling at Copper Blow, we completed drilling at Allendale and Stephens Trig.
Both of these projects already had some existing drilling, but it had been a long time between drilling programs.
The drilling was really twofold. The idea was to validate the historical drilling and confirm the grade continuity, while also trying to add to the extent of the mineralisation along strike and down dip.
For some background on the two projects, Broken Hill Mines is our joint venture partner. Broken Hill Mines holds 25% and Kingfisher holds the remaining 75%.
Both projects sit to the north of Broken Hill. Stephens Trig is about 10 to 15 kilometres north and Allendale is about 40 kilometres north.
We got some very encouraging results from the drilling program. At Allendale, we returned nine metres at 8% lead-zinc and 18 grams per tonne silver. That included five metres at 10% lead-zinc with 23 grams per tonne silver.
That also backed up the historical drilling there, which intercepted mineralisation of up to 10 metres at 16%.
At Stephens Trig, we were again encouraged by the results. We drilled five holes for about 580 metres. One of the best hits was five metres at 7.4% lead-zinc with 10 grams per tonne silver. Within that, there was a higher-grade zone of two metres at 7.5% lead-zinc with 24 grams per tonne silver.
We also intersected some high-grade silver there. One hit returned one metre at 198 grams per tonne silver.
We’re very encouraged by these results. These projects are underpinned by the mining and processing agreement we have with Broken Hill Mines, so we’re trying to add to the pipeline of potential feed for the mill at Broken Hill.
We’re looking at high-grade, shallow mineralisation that is easily accessible and close to existing infrastructure such as main roads.
We don’t necessarily need to find gigantic resources here. We’re looking at mining opportunities, so we have a potentially low-capex, quick pathway to production off the back of that mining and processing agreement.
Proactive: It certainly points to the potential of that broader mineralised system.
Chris Bittar: Yes. These are just two areas that we’ve gone into, and they were the most obvious targets to begin with.
We’ve got about 400 square kilometres of ground around Broken Hill, so we have a lot more targets and plenty of work to do.
Over the coming months and years, we’ll steadily undertake desktop studies, highlight the areas of interest and keep testing these targets to try to add feed to the mill. That’s basically the game plan there at the moment.
Proactive: Let’s narrow down the next steps a little bit. What are the next steps over the next few weeks?
Chris Bittar: For the remainder of the year, we’re really going to focus our funds and efforts on our copper projects.
Last week, we received our formal drilling approval from New South Wales Resources. We’re now in the process of trying to get a rig out there to commence diamond and RC drilling.
There’s a fair bit of activity in New South Wales at the moment and a lot of projects are drilling. Some projects have also been delayed by recent weather events.
We’re in conversations with drilling companies, and as soon as we’re able to secure a rig, we’ll get started. At this stage, we’re hoping that will be somewhere around October.
In the background, our metallurgical sampling and test work project has just commenced, so we’ll have some news coming from that over the next month or two as well.
We’re also using this time to add to our exploration target pipeline at Copper Blow.
We have that four-kilometre magnetic trend, and we’re looking through the geophysics and soils and interrogating the historical database to highlight future drilling targets.
Copper Blow is really our main focus for the rest of the year. We’re also pushing towards getting that maiden resource completed, and we’re aiming to have that out by the end of the year.
Proactive: Plenty to look forward to and certainly a lot of work going on. Thanks for your time today. We’ll be in touch as all of this work unfolds.
Chris Bittar: Thank you very much, Jonathan. We look forward to providing the next update.