en.Wedoany.com Reported - On August 12, King Global Ventures is advancing an approximately 14,000-foot (roughly 4,300-meter) diamond drilling program at the Iron Horse target within the Black Canyon Project in Arizona, USA, utilizing wedge drilling from hole IH-26-03 to further test the deep volcanogenic massive sulfide (VMS) mineralization potential of the target area.
The current program initially planned seven drill holes, primarily to verify geophysical anomalies jointly defined by magnetic, electromagnetic, and gravity surveys. King Global has previously completed two holes, IH-26-01 and IH-26-02, with drilling results indicating hydrothermal alteration pathways, sulfide development, and continuous copper enrichment in the target area—features consistent with a VMS-type hydrothermal feeder system.
Drilling to date has not yet intersected the massive sulfide orebody, and the project has not delineated a compliant mineral resource estimate. Iron Horse remains in the early-stage exploration phase, with the primary objective of the wedge drilling being to trace the extension of the hydrothermal feeder zone at depth and to determine whether the geophysical anomalies are generated by a sulfide system with mineralization potential.
The Black Canyon Project is located near Cleator in Yavapai County, Arizona, approximately 100 kilometers north of Phoenix, comprising 213 contiguous mining claims covering roughly 4,000 acres, including 15 historical mines such as the Howard copper mine. The project primarily explores for VMS-type mineralization of copper, gold, silver, zinc, and other metals, with Iron Horse being one of the current priority drilling targets.
The Silver Cord target within the same project area completed drilling in 2025. One representative intercept returned approximately 2.7 meters grading 619.6 g/t silver, with 1 g/t gold, 0.6% lead, 1.05% zinc, and 375 g/t antimony. This result comes from the Silver Cord polymetallic vein system and cannot be directly used as a basis for Iron Horse mineralization grades or resource scale.
On August 4, King Global announced a proposed non-brokered private placement of up to US$2.3 million, planning to issue no more than 5.75 million units, with proceeds primarily allocated to follow-up exploration and drilling at the Iron Horse and Black Canyon projects. The financing remains subject to necessary approvals, including from the Canadian Securities Exchange.
The United States is simultaneously expanding domestic investment in mining workforce and critical minerals supply chains. King Global cited information released by the U.S. government on August 7, stating that the U.S. Department of Energy plans to invest US$100 million in 14 mining schools to expand training in mining, mineral engineering, and supply chain disciplines. However, the company has not disclosed receiving any related government funding or workforce program support, and the two matters currently represent parallel information regarding project advancement and policy context.
