King River Copper Ltd (ASX:KRC) has applied for three large exploration licences (measuring over 1,500 square kilometres) around its Mt Remarkable Gold Project in the East Kimberley region of Western Australia.
The decision to substantially increase the exploration footprint around Mt Remarkable was triggered by the company’s recent high-grade gold discovery at the Trudi Vein and further knowledge gained in recent months by detailed analysis of historic work around the area.
Significant opportunity for additional high-grade discoveries
High-grade gold mineralisation at the Mt Remarkable Project is hosted by the Whitewater Volcanics, a Proterozoic stratigraphic horizon that is older than the Speewah group.
This horizon extends from Great Western Exploration’s (ASX:GTE) Hunter Project, where historical high-grade gold values of up to 50.65 g/t gold have been returned, through to King River’s Mt Remarkable project (highest grade of 90.7 g/t gold from drilling last year).
Past exploration between these two high grade projects has been sparse leaving excellent opportunity for additional high-grade discoveries within the Whitewater Volcanics.
Drilling planned to extend high-grade mineralisation
Once the applications are granted, King River is planning to identify and test new gold targets while advancing its existing prospects at Mt Remarkable.
The company’s ongoing analysis of last year’s geophysics, drill results and samples continue to give insights into mineralisation controls at the project.
The petrological and spectral analysis of 2017 drill samples is currently underway.
King River is planning to commence drilling in early May 2018 with a reverse circulation and a diamond drill rig booked to test and extend the high-grade mineralisation at the Trudi Vein and to explore for new high-grade mineralized zones.
The company has been one of the top performing shares on the ASX, with the share price more than tripling over the past one month, last trading at 14 cents.
The shares have been supported by the positive news flow from King River’s Speewah project in Western Australia, where it recently tested 99.48% purity vanadium and 99.5% purity titanium.