The Mt Remarkable gold discovery and other Western Australian copper/gold tenements and applications held outside the boundary of the Speewah Dome will be placed into a new 100% owned subsidiary called Kimberley Gold Pty Ltd.
The existing subsidiary, Speewah Mining Pty Ltd, will continue to own 100% of the vanadium, titanium, iron and fluorspar projects.
It is also proposed, subject to shareholders approval at the next formal meeting of shareholders, to change the name of the parent company to King River Resources Limited.
King River’s drill program is continuing to return significant drill results at its Mt Remarkable Project in the East Kimberley, Western Australia.
The latest results include three very high-grade intersections above the eastern end of the Trudi Grid area:
• 4 metres at 36.77g/t gold from 7 metres including 1 metre at 70.9 g/t gold;
• 3 metres at 29.53 g/t gold from 9 metres including 1 metre at 87.30 g/t gold; and
• 5 metres at 9.03 g/t gold from 8 metres including 1 metre at 28.10 g/t gold.