Kingfisher Mining raises $2.25M for Copper Blow

And then within that zone, we've also got these high grade um parts where, you know, 13 meters at 4% copper and 1.2 gold.

Kingfisher Mining, ASX ticket KFM is raising 2.25 million to fund the next phase of exploration at Copper Blow. Joining us to talk about the raise and upcoming works is managing director, Chris Bitter. Chris, good to see you.

Good to see you too, Jonathan. Thanks for having me.

It's always a pleasure. So, yeah, 2.25 million raise. Uh talk talk us through the raise and what it means for you.

Yeah, well, absolutely. So, look, um we're pleased to say that we've secured commitments to raise, you know, 2.25 million, um which we're very pleased with that out that that outcome. Seen some strong strong support, sorry, from um existing shareholders. Um but we've also been able to welcome some um new sophisticated and professional register uh investors to the register as well. So that's sort of a bit of um sort of validates the the previous work that we've done over the last 12 to 18 months and the and what the what opportunities lie ahead. But I think importantly, um a very positive part of the raise is that we're able to do this raise at 7 and a half cents which was um a premium of about a bit over 5% to our 15-day VWAP, which is uh you know, a pretty good outcome and what's what's a pretty challenging market out there for the junior explorers at the moment. So that that's a very strong endorsement from our shareholders and new shareholders. So, um importantly for King Fisher, this this now um puts us in a strong position to accelerate our exploration programs. You know, we've generated some encouraging results of copper blow already. um and now we've got the funding to continue testing the broader opportunities out there and you know, this is all in a time where the copper price remains pretty strong. Um so having a quality copper project that we're able to actively advance is is pretty good position to be in for the company.

So, Chris, let's dig a little bit deeper into what you're doing and how those funds will be used uh at Copper Blow and beyond.

Yeah, look, so the the primary focus is is definitely copper blow for us. So we'll we'll continue um some drilling exploration and target generation across the project. This is sort of outside of the the current um resource um envelope current mineralized envelope that we've got. So we're in particular, we're looking at the broader 4 km trend that copper blow sits on. It itself sort of at 600 m um strike length of mineralization of the 4K trend. So there's essentially um you know, 3 km of of that magnetic anomaly that that remains untested. So we'll progress our exploration activities across that that area. and at the same time in the background, we'll keep um progressing our broader hill uh portfolio as well, just building that pipeline of of base metal, you know, your lead zinc, silver, um projects, um that that we'll just keep ticking along in the background.

Yeah, yeah. and uh recent drilling of Copper blow that's returned wide high grade copper gold intersections. So you've got the trend there, you've got the intersections. What makes Copper Blow so compelling?

Well, it's just a combination I'd say of grade, scale and and exploration upside. you know, as you said, we've already drilled some excellent intercepts out there, you know, the best that we've got so far, uh that we drew in the last program the 26 m at 2.57% copper with 0.75 grams per ton gold in there and then within that zone, we've also got these high grade um parts where, you know, 13 m at 4% copper and 1.2 gold. So you know, they're good numbers in their own right and then but again this this sits within um the bigger story and the bigger opportunity of copper blow. Um the copper blow magnetic trend. So um look we're not looking at a project here where we're sort of just incrementally drilling and and you know, slightly might increasing the resource size program at a time, you know, we're still very much in the discovery and expansion phase. So that's where a lot of the excitement comes from on this um magnetic trend that that's got a lot of exploration upside. Our our geophysical and geochemical work um and that's been ongoing for the last few months. We've identified some pretty um compelling exploration targets out there. So the next phase of our exploration is just sort of understanding them and and and actually just getting out there and testing them. So it's yeah, pretty exciting times.

Yeah, and then that's the thing it's worth pointing out that that a lot of uh a lot of that trend remains untested, so there's plenty of potential.

Yeah. Yeah, a lot. So we just now that we've got the the funds, we can really get out there and and test these things properly. um and then, you know, it just all adds to that to that Copper blow story out there.

And then uh yeah, beyond Copper blow as well. You've got that large uh Broken Hill land holding and a mining and processing agreement with Broken Hill mines. Um talk us through that strategy, where it fits and and what shareholders should uh be looking for next.

Yeah, so look in regards to strategy, look we've always been more than had the idea of just not being a a single single project, you know, like obviously we we discuss and refer to Copper blow a lot and that really is our our prime and most advanced opportunity and our new term focus at at Broken Hill, but you know, we control a significant portion of tenure out there, you know, 400 square kilometers of land. So that that which gives um King Fisher and the shareholders a you know, exposure to multiple commodities and multiple exploration opportunities. Uh you know, we all talk about copper but everyone sort of seems to zinc doesn't really seem to get the air time that a lot of the other commodities get, you know, over the last 12 months up over sort of the 20% mark and it's just sort of ticking along slowly without much fuss. So again, that's just more upside for for our shareholders. So but just in the Broken Hill region, we'll just continue to generate targets across the region. Um and then obviously with that agreement with Broken Hill mines, um just gives us that opportunity for a quick, cheap alternative um pathway to production that a lot of other juniors don't don't have access to. So that that really um that that's a big value add for the company and we just believe, you know, we're well positioned with a strong project pipeline in the area and a supportive shareholder base so we'll just keep sort of pushing ahead and um we're hoping that um, you know, we we've already demonstrated the copper blow host to give you copper gold mineralization. So the exciting part now is just the the what remains in those broader systems that are untested and and with this funding, we're we're a strong position to unlock that potential while contributing uh by continually, sorry, to to build um value across those broken hill projects.

Yeah, plenty to look forward to as we come towards the end of the year and next. Yeah.

So we'll we'll we'll just sort of before the year's out, um we'll go and do some more drilling a copper blow. There'll be some we've got some more resource drilling. We've got some metallurgical test work underway, which will lead into the maiden resource, which we're talk we'll get done as soon as the, you know, we do the drilling, get the essay results, do the modeling, then we'll have the the our maiden resource at copper blow and then you obviously there'll just be a hopefully a steady news flow of of pro of um from our wider Broken Hill region. So it's all very exciting times for King Fisher.

Yeah, Chris, uh we'll we'll talk again I'm sure shortly as it all unfolds, but thanks for your time today.

Uh thanks for having me Jonathan, always a pleasure.