viewKing River Resources Ltd

King River Resources applies for two Tennant Creek tenements with potential for high-grade copper-gold discovery

The tenements are prospective for iron oxide copper-gold mineralisation.

KRR shares were up more than 10% to 3.2 cents in intra-day trade

King River Resources Ltd (ASX:KRR) has applied for two prospective tenements in Western Australia’s Tennant Creek region, supplementing it’s Treasure Creek iron oxide copper-gold tenure which contains 12 other granted exploration licences.

The company’s total holdings in the wider Tennant Creek/Rover/Davenport region now amounts to more than 6,800 square kilometres.

READ: King River Resources granted six exploration licences near high-grade gold discovery at Mt Remarkable in WA

Both Tennant Creek and Rover’s gold fields are host to high-grade iron oxide copper-gold deposits with more than 5.5 million ounces of gold mined from Tennant Creek and a resource of 1.2 million ounces at Rover 1.

Treasure Creek covers areas along strike of the gold fields as well as areas of similar stratigraphic and structural settings to the southeast.

Past exploration in these areas has been brief and disjointed, with many target areas likely to be under shallow cover.

KRR believes significant gold discoveries can be made with the application of systematic exploration and both new and advanced geophysical techniques.

KRR's new exploration licence applications, granted exploration licences and relevant gold prospects


READ: King River Resources remains focused on world-class Speewah vanadium development

The new exploration licence applications are held in the name of wholly owned subsidiary Treasure Creek Pty Ltd and are prospective for high-grade copper-gold mineralisation.

New application EL32199 covers the Whistle Duck – Edmirringee trend where historic rock chip sampling returned 5% copper and 13 g/t gold and continues east into existing tenement EL31626.

The northern part of the application covers Warramunga formation rocks which host the Tennant Creek and Rover fields as well as the Davidson gold prospect.

The second application EL31626 covers a part of the Kurundi anticline and Kurundu underground and open pit historic gold mine where historic rock chip sampling assayed more than 5 g/t gold and copper values up to 9.7%.

An estimated 25 to 75 kilograms of gold was reportedly mined from historic workings in the Kurundi gold field.

New applications EL32199 and EL32200 and relevant prospects


READ: King River Resources formulating commercialisation strategy for Speewah Specialty Metals Project

The company is completing a detailed geological and geophysical review of its entire Treasure Creek asset portfolio and has already identified multiple copper-gold targets within the granted licences.

On-ground geophysical surveys followed by drilling is planned at the most mature of these gargets on two priority granted tenements, EL31617 and EL31619.

EL31617 contains the underexplored eastern extension of the Rover gold field which hosts numerous ironstone bodies with characteristic copper-gold and cobalt, silver and bismuth mineralisation.

Second targeted tenement EL31619 includes part of the Lone Star iron oxide copper-gold trend and the eastern extension of the Tennant Creek field which is also underexplored.

KRR is preparing environmental approvals for the planned drilling.

Quick facts: King River Resources Ltd

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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

3 min read