Funds will have a dual purpose, firstly for the initial reverse circulation drilling program at the Mt Remarkable prospect.
Secondly to advance the new vanadium concept study.
Mt Remarkable's bonanza gold
Boosting the prospectivity of Mt Remarkable have been some high-grade gold rock chip samples.
King River's first visit picked up rock chips grading 30.8g/t gold and 16.85g/t gold.
The aim of the program was to check site access conditions and to ascertain the vein mineralisation style and host rock for historically reported high grade gold, such as: 5 metres at 15.36g/t gold.
Mt Remarkable is located 80 kilometres south of Speewah in the Kimberley region.
Vanadium news flow
King River has some key vanadium news flow in coming weeks, with the vanadium concept study from the Central vanadium deposit at Speewah.
The study is reviewing the potential of producing a high purity vanadium pentoxide and titanium dioxide.