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King River Copper begins deep diamond drilling to test Chapman gold prospect

The company recently intersected a new high-grade gold zone of up to 12.45 g/t gold at the Mt Remarkable Project.

golden key
The new diamond drill hole is designed to a depth of 600 metres

King River Copper Ltd (ASX:KRC) has commenced a deep diamond drill hole at the Chapman gold prospect at the northern end of the Speewah Dome, 100 kilometres south west of Kununurra.

The program is designed to test the main Chapman structure (a broad, shallow dipping, mineralised thrust zone with thicknesses up to 20 metres) in a complex litho-structural and geochemical setting.

READ: King River Copper nears Speewah vanadium scoping study completion, metallurgical tests ongoing

King River’s previous drilling at Chapman had defined a strong thrust zone over a strike of over 800 metres with arsenic-gold mineralisation in most holes.

The company believes that this consistent structure has potential to host a significant gold deposit.

The new deep diamond hole is designed to test the Chapman structure in a new geochemical and litho-structural environment close to a major north-east trending structure.

Cross Section of the designed drill hole shows interpreted extrapolation of the Chapman Thrust

A deep reverse circulation (RC) hole (220 metres) was drilled prior to positioning the diamond hole to assist with targeting.

The hole intersected the thrust zone with quartz veining and arsenic mineralisation (assays pending) allowing better extrapolation of the thrust at depth.

The new diamond drill hole is designed to a depth of 600 metres and will take about 2 weeks to complete (budgeted drill costs of $130,000).

READ: King River Copper lights Remarkable rocket under share price

Meanwhile, RC drilling will continue at Mt Remarkable testing high grade gold epithermal vein targets during October and November.

Quick facts: King River Resources Ltd

Price: 0.03 AUD

Market: ASX
Market Cap: $37.46 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

2 min read