viewKing River Resources Ltd

King River Resources has drill turning as it targets high-grade gold at Mt Remarkable

The company is undertaking the 4-hole program to investigate the possibility of an offset of high-grade gold mineralisation at the project.

King River Resources Ltd - King River Resources has drill turning as it targets high-grade gold at Mt Remarkable
Best results from the 2019 Mt Remarkable drilling were from the eastern edge of the Trudi vein.

King River Resources Ltd (ASX:KRR) has started a 2,500-metre reverse circulation drill program to test high-grade gold mineralisation at Mount Remarkable Project in Western Australia.

The company will target an area where multiple high-grade gold results were returned last year including a best result of 4 metres at 113.29 g/t including 1-metre at 346 g/t.

Possibility of high-grade gold

The company said: “Previous drilling at the Mt Remarkable Trudi Vein has yielded some excellent high-grade epithermal gold values.

“The primary objective of this current 2020 program is to investigate the possibility of an offset of this high-grade gold mineralisation, by targeting an area with four holes approximately 120 to 150 metres east of that original discovery.

“The rig will also test nine other nearby locations in the project area.

“Geologists have also been on-site for a number of weeks doing first pass reconnaissance over other nearby locations.”

Mt Remarkable drilling targets

The current drilling will test new exploration targets as well as follow-up on the encouraging gold results returned from targets drilled in 2018 and 2019.

Trudi vein drilling will continue to test the main target area, where multiple high-grade gold results have been returned.

The company is mainly planning to target five main areas on Trudi vein.

Other veins

Besides Trudi, the company plans to target a number other prospective epithermal veins in the current drilling program:

  • Jeniffer North prospect, where initial drilling in 2019 returned mineralisation in three adjacent holes with grades up to 0.64g/t gold;
  • Catherine vein, which is similar litho-structural setting to the Trudi vein where it intersects the Grahame vein under interpreted cover units;
  • Gemma offset vein, where historical sampling returned gold grades up to 0.72g/t gold in rock chip grab sampling along 300 metres of strike but the vein was never drilled; and
  • A quartz adularia vein, where previous rock chip grab sampling returned grades up to 30.8g/t gold in rock chip samples.

Current phase of drilling

The company plans to drill more than 30 RC holes in this phase of drilling, which will be completed close to the end of the dry season period in the Kimberleys (November/December).

Reconnaissance exploration is planned for early next dry season across the company’s extensive tenement holdings in the region.

These tenements cover the prospective Whitewater Volcanic rocks that extend 200 kilometres along a northeast-southwest strike south of the Speewah Dome.

High-grade gold mineralisation at Mt Remarkable is hosted by the Whitewater rock unit, a Proterozoic stratigraphic horizon that is older than the Speewah Project rocks.

The horizon extends from the Hunter Project held by WA Mining Resources, where historic high-grade gold values of up to 50.65 g/t gold have been returned from epithermal quartz veins, to KRR’s Mt Remarkable and continues to the south hosting the Tunganary and Middle Branch Bore gold prospects within anticlinal fold structures.

Past exploration along this prospective trend and between these high-grade gold exploration projects has been sparse providing opportunity for additional high-grade gold discoveries within the Whitewater unit.

Quick facts: King River Resources Ltd

Price: 0.023 AUD

Market: ASX
Market Cap: $35.73 m

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on 24/1/19

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