King River Resources Limited (ASX:KRR) enters the new year hoping to continue the success of its exploration in 2019 at the Mt Remarkable Gold Project in Western Australia while also encouraged by the definition of IOCG targets at the Treasure Creek project near the Tennant Creek Gold Field in the Northern Territory.
These projects will be pursued as the company continues test work as part of a pre-feasibility study at the Speewah Specialty Metals (SSM) Project north of Mt Remarkable.
During drilling in 2019 KRR intersected a new mineralised zone 150 metres east of the main Trudi deposit with grades up to 2.42 g/t gold at Mt Remarkable.
The new zone is between the main Trudi deposit and a broad mineralised zone intersected in 2018, where 10 metres at 0.32 g/t gold within a 29-metre mineralised zone averaging 0.16 g/t was returned.
The strength of the quartz-adularia veining, higher grades and low gold and silver ratio is encouraging for further exploration for high-grade zones around and down plunge of this new intersection.
These results also appear to confirm that the Trudi vein has been offset 50 metres to the north by a north-east trending fault.
The intersection of this offsetting fault with the Trudi vein also presents new structural targets for mineralisation.
RC drill chips of the new mineralised zone discovered 150 metres east of the Trudi Main deposit
All assays have now been returned for the 2019 reverse circulation (RC) drilling program at Mt Remarkable with best results from the Trudi vein and the Jennifer North vein.
Drilling at Trudi intersected a new mineralised zone 150 metres east of the deposit and intersected 7 metres at 0.85 g/t gold, including 1 metre at 2.42 g/t in strong quartz adularia veining.
At Jennifer North, three holes intersected gold mineralisation on a quartz adularia vein set in newly granted tenement EL5133.
Best results for the reconnaissance drilling which targeted anomalously mineralised veins identified during earlier 2019 rock chip and soil sampling work were from the Jennifer North vein.
Drilling at Jennifer North intersected substantial gold mineralisation up to 0.64 g/t gold in three of the four holes drilled.
The three mineralised holes were drilled over a strike length of 70 metres, the fourth was drilled further to the east and did not intersect the vein which is interpreted to be offset to the north by an oblique structure.
Jennifer North is a newly discovered mineralised quartz adularia vein within the recently granted tenement, EL5133, 3 kilometres southwest of Trudi.
The newly intersected mineralisation is open along strike to the west, down plunge to the east and at depth.
Reconnaissance exploration will continue to test for extensions to Jennifer north-east of the offsetting fault.
In the Tennant Creek area KRR is engaging in a detailed geological and geophysical review of all its Treasure Creek tenements and has already identified multiple iron oxide copper-gold (IOCG) targets within the granted licences.
Resource Potentials in Perth is doing the geophysical review.
Drilling of the main EL31619 geophysical targets is planned for late March this year.
Environmental approvals for the planned drilling are in the final stages of review by the NT Mines department.