Kingfisher Metals – First Assay Result From The 2026 Drill Program Returns 8.8 m of 38.50 g/t AuEq
The KE Report Oct 6, 2026 15:07
Summary
Kingfisher's first 2026 assay — 8.8 metres of 38.50 g/t AuEq (gold-equivalent: combined value of all metals) — signals a fertile system.
The CEO says the vein was hit serendipitously while drilling toward the porphyry target, boding well for undiscovered veins across the district.
Early holes did not vector into the porphyry's core; 3D modeling of oriented drill core now redirects drilling north of the discovery hole.
Epithermal alteration above a buried porphyry can mask it in IP (induced polarization geophysics) and magnetic data, complicating target selection.
With four drill rigs and roughly 9,500 metres drilled, the CEO says over 30 million on hand keeps next year fully funded.
Key points on Barrick Mining
- The CEO says what Kingfisher and Barrick both see suggests the epithermal system above the porphyry could stand on its own — the scale is there for what he calls a Barrick-size target even if no economic porphyry is found.
Dustin Perry's takeaways
- Top takeaway Dustin Perry argues the first assay — visible gold in a high-grade polymetallic vein hit serendipitously within a couple hundred meters of the porphyry — confirms a very fertile, underexplored system that should keep producing upside surprises.
- He reveals the team's initial model of where the porphyry sat was probably wrong: 3D vein modeling from oriented core produced vectors that pushed drilling north, and he says they now have a good idea where the system is going.
- He argues the project preserves a fully intact porphyry-epithermal system from the paleo surface down through the porphyries, and that the epithermal cap alone could make a standalone, Barrick-size prospect.
- He links the share price's recent weakness to this year's deliberately conservative disclosure — no visual results, muted language, aimed at building institutional credibility — and stresses that good teams learn from every hole even without banner intercepts.
- He expects the current serious assay-lab delays to ease, hoping for the first new results by end of October 2026 and a steadier news flow afterward as regional survey results come back over the winter.