leadf
logo-loader
viewKing River Resources Ltd

King River Resources discovers new high-grade gold zone at Mount Remarkable Project in WA

Assay results from the 5 metre RC grid drilling on the western side of the Trudi Main project have returned high grade gold results.

King River Resources discovers new high-grade gold zone at Mount Remarkable Project in WA
Five holes were drilled to test the mineralized zone discovered in 2019 on what was interpreted to be the offset position of the Trudi Vein 150 metres east of the main Trudi deposit.

King River Resources Ltd (ASX:KRR) has discovered a new high-grade gold zone at the Mount Remarkable project in Western Australia, following the return of 6 metres at 5.25 g/t gold including 1 metre at 30.1 g/t from the 2020 reverse circulation drilling program.

The program was undertaken at the western side of the main Trudi metre grid, with significant results having been returned from exploration drilling at Trudi Offset (150 metres east of the main Trudi zone) and at Jeniffer North.

A total of 33 holes for 2,310 metres were drilled late last year with assays pending for 11 holes.

Planned exploration

Follow up RC drilling will be designed once all the results have been returned.

Exploration drilling will focus on the main Trudi vein with a plan to commenced testing the known strike extent of the Trudi vein, to the west and to the east, with even spaced fence drilling (at this stage to a maximum depth of 100 metres).

Due to the tight nature of mineralization halos around the high-grade zones it will be important to follow up on any significant gold indications with closer spaced drilling programs.

Long projection looking north showing the new mineralised zone as well as 2020 holes as red dots

Reconnaissance exploration

Reconnaissance exploration is planned to start as early as possible this dry season (starts in May) across KRR’s extensive tenement holdings in the region.

This will allow follow up exploration and drilling of any new discoveries/targets as the year progresses.

“Fertile high-grade epithermal system”

Chairman Anthony Barton said: “These new gold results confirm that we are dealing with a fertile high grade epithermal gold system.

“The geological nature of this style of deposit often shows repetition very high-grade zones staggered along a known mineralised fault zone.

“With our better understanding of the geology, King River Resources will now be planning on a more systematic RC drilling approach along strike in both the new west and east offset directions along the Trudi zone.”

Geology

The Mt Remarkable tenements cover the prospective Whitewater volcanic rocks that extend 200 kilometres along a NE-SW strike south of the Speewah Dome.

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

This horizon extends from the Hunter Project (held by WA Mining Resources), where historic high-grade gold values of up to 50.65g/t have been returned from epithermal quartz veins, through to KRR’s Mt Remarkable Project and continues to the South West hosting both 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 excellent opportunity for additional high-grade gold discoveries within the Whitewater unit.

Quick facts: King River Resources Ltd

Price: 0.027 AUD

ASX:KRR
Market: ASX
Market Cap: $41.95 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of King River Resources Ltd named herein, including the promotion by the Company of King River Resources Ltd in any Content on the Site, the...

FOR OUR FULL DISCLAIMER CLICK HERE

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