King River Resources Ltd (ASX:KRR) has received drill results from its latest phase of reverse circulation (RC) drilling at its Mr Remarkable project in Western Australia.
Drilling has intersected a new, high-grade gold zone at the eastern edge of the Trudi Main Grid.
Results feature 4 metres at 19.88 g/t gold including 1-metre at 69.30 g/t gold from 21 metres depth.
The new zone is open, both, up and down plunge to the east.
The discovery confirms potential for other high-grade gold shoots
Drilling at Mt Remarkable has been completed for the year prior to the commencement of the wet season with 167 holes for 10,074 metres drilled.
Other highlights from the recently received assays including 2 metres at 10.47 g/t gold from 33 metres and 3 metres at 4.29 g/t gold from 27 metres.
The discovery of this new high-grade zone is very encouraging confirming the company’s belief that multiple high-grade shoots exist at Trudi and are yet to be discovered.
Assays still pending for deep diamond hole at Speewah
At the Speewah Vanadium Project, a deep diamond drill hole KCDH0010 was completed late November and the drill core has been sent to Perth with assays pending.
Speewah is in the East Kimberley region of Western Australia and the company is planning to publish a pre-feasibility study (PFS) this year.
The hole intersected a very broad alteration or fracture zone from 530 to 712 metres.
Metallurgical test work supports alternative development plan
As at December 19, 2018, ongoing metallurgical test work from Speewah continued to support an alternative development plan for the project.
The board has re-prioritised most studies around the focus for a much more flexible, modular engineered strategy.
This strategy better takes into consideration the advantage of owning such a large vanadium resource that is consistently disseminated, flat lying and outcrops at surface.
READ: King River Copper reveals improved process route for vanadium recovery at Speewah
The next phase of PFS work will examine more detailed costings of beneficiation and also review in more detail the capital and operating costs for a vat leach operation and sulphuric acid plant.
The successful conclusion of these tests and studies will lead to the planned publication of a PFS in 2019.
Speewah test work results expected soon
Results are expected in the near-term for magnetic separation testing and various acid leach testing.
This test work will lead into larger scale vat leach test work and a focus on extracting the vanadium, titanium and iron products from the leach solutions.