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King River Copper's gold streak continues at eastern end of main Trudi grid

King River shares have jumped 9.4% to 10.5 cents in the first 20 minutes of trade this morning.

Gold tail in pan

King River Copper Ltd (ASX:KRC) has once again drilled bonanza grade gold from the Trudi Vein, within the Mt Remarkable Project in the East Kimberley of Western Australia.

Today’s intersections are deeper, while being located to the east of the early June high-grade gold hits.

This provides the potential of a more extensive system, not just a single high-grade shoot.

Today's highlights include: 3 metres at 41.75g/t gold from 16 metres; 3 metres at 38.70g/t gold from 22 metres; 2 metres at 66.50g/t gold from 27 metres; 4 metres at 39.78g/t gold from 31 metres; and 3 metres at 16.26g/t gold from 13 metres.

The new results now define a very high-grade gold zone that is currently open to the east and at depth.

These follow the results from three weeks ago which delivered: 4 metres at 113.29 g/t gold from 23 metres; and 3 metres at 34.8 g/t gold from 18 metres.

King River will continue exploration at speed with follow up holes to test for extensions.

Drilling has already commenced.

Drilling program outcome to date

The current reverse circulation drill program is a close spaced grid with a 5 metre spacing designed to test and delineate the trend of high-grade gold mineralisation.

The additional goal is to identify other nearby high-grade shoots.

The grid has now been extended to the east to follow up on and extend this new high-grade zone and a second deeper grid at a 10 metre spacing has also commenced.

A four diamond drill hole program is scheduled to start later this week to provide structural information on the high-grade gold zones.

Importance of the latest results

By identifying near-surface and high-grade epithermal gold mineralisation so early in the exploration area, this enhances the prospectivity of the numerous other under-explored vein systems already mapped.

King River noted that the strategy of initial close space drilling on the Trudi Vein has proven highly effective in identifying, delineating and extending high grade gold zones.

The company added that it validated the view that there should be potential for repeats of additional high-grade gold shoots placed along the known ~1 kilometre of mineralised strike at Trudi.

Result interpretation

Interpretation of results so far have shown gold mineralization at Trudi to be broadly associated with the main adularia vein, however the high-grade mineralisation is not constrained to the intense adularia zones as previously thought, but forms plunging shoots that trend within the broader quartz adularia structure.

It is interpreted that the overall trend of mineralization follows the intersection of the Grahame vein, another mineralised quartz adularia vein, with the Trudi Vein.

This trend is untested by historical drilling beyond the main zone.

Quick facts: King River Copper Ltd

Price: 0.033 AUD

Market: ASX
Market Cap: $41.21 m

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King River Resources Ltd - Elevator Pitch

Anthony Barton, non executive chairman of King River Resources Ltd (ASX:KRR), pitches the company to investors. For more information visit https://kingriverresources.com.au/

on 24/1/19

3 min read