The CLOUD DRIFTER occurrence is one of a group of gold-silver prospects located in a small area approximately 6 to 8 kilometres northeast of Cloud-Drifter Peak, 10 kilometres west of the south end of Tatlayako Lake, 46 kilometres south of the community of Tatla Lake on Highway 20, and 183 kilometres southwest of Williams Lake, BC. Other showings in this group are covered by the Langara (092N 036), Standard (092N 037) and Argo (092N 038) occurrences. Gold was discovered in 1911, although the area was not explored properly until the mid-1930's, and again in 1987 and 1988.

Host stratigraphy at the Cloud Drifter zone includes siltstone and fine-grained sandstone, as well as basaltic to andesitic volcanic and volcaniclastic rocks. Several quartz diorite intrusions, inferred to be sills, are associated with chlorite-epidote hornfels alteration. Mineralization along the Cloud Drifter trend and throughout the roughly 500 square kilometre Goldrange project/property is closely associated with, and largely hosted by, a complex of Late Cretaceous quartz diorite and diorite intrusions of the Bendor Suite emplaced into Lower Cretaceous sedimentary and volcanic rocks of the Cloud Drifter Formation. The area consists of overlap assemblage occurring between the northeastern margin of the Coast Plutonic Complex and the Tchaikazan fault to the northeast and is characterized by a complex belt of folds and imbricated, gently southwest-dipping thrust sheets.

Drilling at Cloud Drifter revealed broad zones of near-surface mineralization over significant widths. The trend is defined by a 3 kilometre long gold-in-soil anomaly including 50 samples over 1 gram per tonne gold and rock samples with grades up to 128.9 grams per tonne gold (Press Release, Kingfisher Metals, October 6, 2021).The area is approximately 2 kilometres wide, consisting of highly anomalous gold-silver-antimony-copper-arsenic-bismuth-tellurium geochemistry that is coincident with quartz-sulphide and sulfosalt veins, sulphide -cement breccias, and quartz- sulphide replacement zones. The Cloud Drifter trend soil anomalies highlight two distinct anomalies, one at the Cloud Drifter Zone and one at the Langara Zone, approximately 1.5 kilometres east.

Mineralization encountered in drilling to date includes broad intercepts of quartz-carbonate veins and halo alteration of quartz-carbonate-sericite-clay. Vein textures include laminated shear-banded, cataclastic and open space fill. Sulphide minerals range from multi-centimetre size crystals to very fine sooty laminations. The largest quartz vein intercepted in the program was 11.2 metres in drill core from hole GR21-014. Quartz-sulphide stockwork is associated with broad, coalesced halo alteration and disseminated sulphide in the halo. Coarse sulphide, massive pyrite or arsenopyrite veins, and stockwork-style diffuse veins are associated with strong halo alteration. Breccia textures range from diffuse to brittle clast boundaries to diorite and sulphide clasts with cement of quartz-carbonate-sulphide. Fine to coarse-grained disseminated mineralization is widespread with variable intensity throughout quartz-carbonate-sericite-clay alteration zones. Massive and semi massive sulphide are also common. Sulphide mineralogy includes arsenopyrite, pyrite, marcasite, chalcopyrite, pyrrhotite, sphalerite, boulangerite, stibnite, tennantite-tetrahedrite, and molybdenite.

In 2021, back-pack drill hole BP-CD-21-06 intersected an oxidized, silicified quartz diorite over 4 metres with disseminated and vein-hosted sulphides including arsenopyrite, pyrite and chalcopyrite. The highlight samples from the first 2 metres returned values 1.3 grams per tonne gold and 3.6 grams per tonne silver and 0.25 per cent arsenic (Assessment Report 39734).

Shallow drilling in diamond drill hole GR21-010 intercepted a high-grade vein and breccia returning 2 metres of 18.69 grams per tonne gold, 35.0 grams per tonne silver, and 0.47 per cent copper, including 1 metre of 30.2 grams per tonne gold, 45.7 grams per tonne silver, and 0.29 per cent copper (Press Release, Kingfisher Metals, March 2, 2022).

Other drilling revealed a high-grade sulphide -cement hydrothermal breccia grading 6.88 grams per tonne gold, 13.6 grams per tonne silver, and 0.28 per cent copper over 9 metres, in diamond-drill hole GR21-007; vein-style mineralization yielding 14.80 grams per tonne gold over 1 metre within an intercept of 2.16 grams per tonne gold over 8 metre, also in GR21-007; and 5.30 grams per tonne gold over 1 metre in diamond-drill hole GR21-002 (Press Release, Kingfisher Metals, November 16, 2021 and Assessment Report 39734).

Highlights from 2022 diamond drilling in the Cloud Drifter area include assays averaging 2.86 grams per tonne gold over a 40 metre intersection in drill hole GR22-018, where abundant quartz-pyrite-arsenopyrite-chalcopyrite veins occur in a quartz diorite host rock. Hole GR22-019 intersected 2 m of 3.77 grams per tonne gold, an additional 1 metre of 3.08 grams per tonne gold and another 1 metre of 58.88 grams per tonne gold in a series of arsenopyrite-quartz veins.

WORK HISTORY

In 2020, exploration by Kingfisher Metals Corp. on their Goldrange property focused on the Cloud Drifter and Langara showing area, including prospecting, soil sampling, rock sampling (221 samples), back-pack drilling (5 holes-28.9 metres) and geological mapping. Detailed (25 by 25 metre) infill soil sampling confirmed and strengthened a historical anomaly defined in 1987-88 in the vicinity of the Argo showing at the western end of the trend. Soil sampling returned highly anomalous gold grades up to 22.08 grams per tonne gold with 30 samples over 1 gram per tonne gold. (Press Release, Kingfisher Metals Corp, March 31, 2021). The combined 2020 and 1987-88 soil anomaly includes 2473 samples with 50 samples over 1 gram per tonne gold, 134 samples over 0.5 gram per tonne gold, and 306 samples over 0.25 gram per tonne gold. Mapping, rock sampling and back-pack drilling discovered significant auriferous quartz-arsenopyrite +/- chalcopyrite veins with enrichments in silver, bismuth, tellurium and antimony (Assessment Report 39459).

Follow-up diamond drilling in 2021 focused on the Cloud Drifter area with 14 drill holes (NQ) totaling 4925.2 metres. This drilling outlined a large open-ended mineralizing system highlighted by multiple high-grade structures within a broad halo of anomalous gold mineralization. Regional prospecting, soil sampling, rock sampling (210 samples), back-pack drilling (22 holes-53.3 metres) and geological mapping continued across the Goldrange property. A hyperspectral survey was also completed across the entire property (Assessment Report 39734).

In 2021 and 2022, work by Kingfisher Metals Corp. at the Cloud Drifter zone included 19.5 line-kilometres of IP-resistivity surveying. Several new IP anomalies were outlined. Diamond drilling was continued on the Cloud Drifter zone in 2022 with 5956 metres drilled in 25 holes (Assessment Report 41643). In addition, structural interpretations were made from airborne data collected in 2020 over the large Goldrange project area.