Kingfisher Mining Advances Copper Blow with High-Grade Drilling and Processing Deal

Copper Blow Drilling Validates High-Grade Mineralisation

Kingfisher Mining (ASX:KFM) delivered a strong exploration update this quarter with assay results from its December 2025 reverse circulation drilling at the Copper Blow IOCG prospect near Broken Hill. The six-hole, 930-metre program confirmed continuous high-grade copper-gold mineralisation over a 600-metre strike length, the first drilling at the site in over seven years. Highlights include 13 metres at 1.2% copper and 0.26 g/t gold in the South Zone, with a standout 4 metres grading 3.43% copper and 0.74 g/t gold, alongside broader lower-grade zones in the North Zone such as 41 metres at 0.44% copper. These results underpin plans for a maiden Mineral Resource Estimate and demonstrate the deposit remains open for expansion, offering a solid foundation for Kingfisher’s development ambitions. This drilling success follows the company’s earlier confirmation of mineralisation continuity at Copper Blow, setting the stage for further resource modelling and drilling extensions in 2026. High-grade copper-gold results

Strategic Processing Pact Accelerates Production Potential

Kingfisher’s newly inked Mining and Processing Co-operation Agreement with Broken Hill Mines Limited (ASX:BHM) presents a game-changing opportunity to fast-track production without the burden of building standalone processing infrastructure. The deal grants Kingfisher access to Broken Hill Mines’ 750,000 tonnes per annum Rasp Mine processing plant, enabling the company to prioritise smaller or satellite deposits previously deemed uneconomic. This strategic partnership also leverages existing logistics, workforce expertise, and metallurgical capabilities, significantly de-risking Kingfisher’s pathway from discovery to cashflow. The proximity of Kingfisher’s key projects, including Copper Blow and Allendale, to Broken Hill Mines’ facilities further enhances operational synergies. By bypassing capital-intensive infrastructure development, Kingfisher can accelerate its development timeline and potentially unlock earlier revenue streams. This agreement builds on the company’s recent strategic moves to consolidate its Broken Hill portfolio and complements its ongoing drilling programs. Mining and Processing Agreement

Gascoyne REE Divestment Sharpens Focus on NSW Projects

In a decisive portfolio realignment, Kingfisher completed the divestment of its Gascoyne rare earth elements (REE) project in Western Australia, transferring 100% interest in 12 exploration licences to Dreadnought Resources Limited (ASX:DRE). The transaction, finalized this quarter, saw Kingfisher receive $2 million in fully paid ordinary shares of Dreadnought, maintaining indirect exposure to the REE sector through its significant shareholding and potential milestone payments of up to $1.5 million. This move allows Kingfisher to concentrate resources and capital on its high-priority copper-gold, silver, lead, and zinc projects in New South Wales, particularly those supported by the new processing agreement with Broken Hill Mines. The divestment aligns with Kingfisher’s strategic shift towards advancing its NSW portfolio, where it holds approximately 700 square kilometres of tenure across proven mining districts. Divestment of Gascoyne REE project

Financial Position and Outlook

Kingfisher closed the quarter with $1.718 million in cash and total cash plus listed investments valued at approximately $3.404 million, including holdings in Black Cat Syndicate Ltd and Dreadnought Resources. Exploration expenditure for the quarter was $314,000, reflecting continued investment in advancing its NSW projects. The company’s cash runway, estimated at nearly four quarters based on current outgoings, provides a buffer as it progresses drilling and development activities. The upcoming maiden Mineral Resource Estimate at Copper Blow, combined with the operational leverage provided by the Broken Hill Mines processing agreement, will be key catalysts to watch. While the drilling results are promising, the ultimate economic viability of the Copper Blow deposit will depend on the forthcoming resource modelling and market conditions. Kingfisher’s strategic divestment and partnership moves suggest a focused approach to unlocking value in a competitive mining region.