King River Copper Ltd (ASX:KRC) shares gained more than 13% today on news it had intersected a new high-grade gold zone of up to 12.45 g/t gold with reverse circulation (RC) drilling at Mt Remarkable Project in Western Australia’s Kimberley region.
The zone is found near the eastern edge of Trudi Main Grid and featured 9 metres grading 2.78 g/t gold including 1 metre at 12.45 g/t stand-out.
King River said its new high-grade zone near Trudi was open to the east and down plunge.
The company is waiting on six other assays from the zone at its wholly-owned project.
King River reported: “This discovery of a new high-grade zone to the east of previous drilling confirms KRC’s belief that multiple high-grade zones exist on the Trudi vein and are yet to be discovered.
“This new high-grade zone is situated on the overall easterly plunge predicted from the intersection of the Grahame and Trudi veins.
“The mineralisation is from within a very intense zone of quartz adularia veining.”
King River also reported RC drilling beneath the Trudi grid had continued to deliver high-grade results such as 2 metres grading 5.64 g/t gold, including 1 metre at 11.1 g/t.
Step-out exploration drilling undertaken 50 metres east of Trudi grid returned 5 metres grading 1.78 g/t gold, including 1 metre at 5.76 g/t.
King River said the step-out result opened up new high-grade shoot exploration opportunities to the east.
The company reported its best results from west of Trudi Main Grid were: 2 metres grading 5.64 g/t gold, including 1 metre at 11.1 g/t; and 15m grading 1.04 g/t gold, including 2 metres at 5.44 g/t.
Drilling west of Trudi Main Grid
Of its west drilling, King River said: “An unexpected change in dip of the main vein has caused some of the subsequent deeper holes to hit the vein much shallower than planned.
“These deeper holes have also intersected a second adularia vein, 6 metres south of the main vein, which is most likely a bifurcation of the main structure and possibly also host to mineralisation.”
King River plans to drill test the extend of its new zone near Trudi, taking drilling to the east and down-plunge.
Prospective veins near Trudi Main Grid.
Gold-hosting veins deliver
King River has claimed success from two main areas that it is targeting in the relatively new mineralised Southern and Northeastern veins at the project.
The east-west quartz adularia Jeniffer Vein has a strike length of more than 700 metres is part of the Southern veins and King River has received assays for nine RC holes there, with three holes returning significant mineralisation with grades up to 3.16 g/t gold.
The company is planning further drilling in the Southern veins, to find high-grade mineralisation.
Assays for five holes at Northeastern veins have been returned, with a best result of 2 metres grading 0.24 g/t gold.
King River said: “Reconnaissance exploration in vicinity of this drilling has identified more veins associated with soil gold anomalies.”
The company has additional reconnaissance work, rock-chip sampling and drilling planned for the prospective Northeastern veins.
Dry season campaign
The company’s drilling efforts will continue in October and November and are timed to get in before the Kimberley’s wet season starts.
Mt Remarkable Project is located 200 kilometres from Kununurra in the East Kimberley sub-region.