viewKing River Resources Ltd

King River Resources granted exploration licence adjacent to Mt Remarkable

The company will re-start field programs this month with drilling to begin in the September quarter.

Mt Remarkable is southwest of the company's Speewah Specialty Metals Project

King River Resources Ltd (ASX:KRR) has welcomed the grant of an additional exploration licence to wholly-owned subsidiary Whitewater Minerals close to its Mt Remarkable Gold Project in the east Kimberley of WA.

This tenement includes prospective quartz vein structures within the Whitewater Volcanics, a newly identified province prospective for epithermal gold mineralisation, and surrounds the Mt Remarkable discovery.

READ: King River assays new high-grade gold zone at Mt Remarkable

The grant is the first of nine exploration licences applied for in 2017-2018.

Exploration at Mt Remarkable resumes this month with reconnaissance mapping and sampling, including on the newly granted tenement, with the aim of identifying additional mineralised vein sets prior to the start of reverse circulation (RC) drilling in the September quarter.

Map showing the newly granted tenement, existing Mt Remarkable tenement and pending applications.

The 2018 Trudi Main Zone grid drilling campaign increased the known high-grade zones and grades and has also identified new areas with high-grade gold mineralisation.

READ: King River Resources’ test works continue to optimise Speewah Specialty Metals Project

The next phase of drilling will test the following targets:

  • Trudi Main – to test extensions to existing high-grade zones and to test for additional high-grade zones;
  • Trudi East Extension – Extensional drilling has intersection mineralistion over 750 metres eat of this target and interpretation is underway to determine if this is part of 3 separate mineralised vein sets;
  • Trudi Main Deeper – drilling to test the down dip potential of the most westerly plunge shoot;
  • New Veins; and
  • Targets generated by 2019 reconnaissance – RC drilling to target the best targets generated in the planned reconnaissance exploration over the next couple of months.

READ: King River Resources’ study reveals reduced capital costs for Speewah Specialty Metals Project

Numerous surface gold anomalies have been discovered across the Mt Remarkable Project including high grade mineralisation outside of the Trudi Vein.

The interaction of major structures, substructures, epithermal veins and lithologies within  the project area is still being understood but the increasing understanding of the mineralisation controls provides excellent scope for discoveries.

Reconnaissance on the newly granted tenement will focus on areas of Whitewater Volcanics where geophysical images shows areas of structural complexity and east-west trending demagnetisation zones.

Quick facts: King River Resources Ltd

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Market: ASX
Market Cap: $43.7 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