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King River Resources hits high-grade gold in Jeniffer vein at Mount Remarkable

The company has hit the first +10 g/t gold result outside of the Trudi Main prospect and will continue exploration in the wider Mount Remarkable Project area.

King River Resources Ltd - King River Resources discovers new high-grade vein at Mount Remarkable Gold Project
A total of 33 holes for 2,310 metres were drilled late last year and all assays have now been returned.

King River Resources Ltd (ASX:KRR) has enhanced the potential of its Mount Remarkable Gold Project in Western Australia after receiving a new high-grade gold intersection on a vein other than the Trudi Vein.

The 2020 reverse circulation (RC) drilling of eight holes for 250 metres at Jeniffer Vein has returned a best result of 2 metres at 8.44 g/t gold including 1-metre at 14.8 g/t.

This is the first +10 g/t gold result outside of the Trudi Main prospect and the company considers this very encouraging for exploration of other veins at the main Mt Remarkable project area and on its other exploration tenements in the region.

The company has also returned notable results from exploration drilling at Trudi Offset 150 metres east of the main Trudi zone, Trudi East and other exploration targets.

Jeniffer North potential

The new intersection is 3 kilometres from the main Trudi Vein, outside of the main project area and mineralisation is open to the east and west.

Exploration reconnaissance and drilling will follow-up on these results and test the extensions to the veins.

The company will also continue drilling at Jeniffer South to test for other zones of high-grade mineralisation including testing an easterly plunge to a 3.16 g/t gold intersection returned in 2018.

Trudi offset

Results have also been returned for the easternmost of five holes drilled to test the mineralised zone discovered in 2019, on what is interpreted to be the offset position of the Trudi Vein, 150 metres to the east of the main Trudi deposit.

The hole intersected 2 metres at 0.15 g/t and 4 metres at 0.33 g/t including 1-metre at 0.67 g/t within a 13-metre anomalous zone averaging 0.13 g/t gold.

Other previous assays from this target include a best result of 2 metres at 2.87 g/t including 1-metre at 4.34 g/t.

Going forward the company believes these results warrant further exploration drilling above and down plunge of the 2020 intersections.

Trudi East

Results for the remaining three of the five holes drilled at Trudi East have been returned with low-grade mineralisation intersected in all but the shallowest easternmost hole.

The best drill hole intersected three zones: 4 metres at 0.25 g/t from 8 metres, 1-metre at 0.1 g/t from 16 metres and 1-metre at 0.15 g/t from 30 metres at the western end of the drilling.

Mineralisation is considered open to the east, west and at depth and further drilling is planned to explore for higher grade gold zones.

Location map showing the new high-grade gold intersection at Jeniffer North in relation to Trudi Main prospect.

Other key results

Assay results were also returned for Trudi West, Catherine/Grahame Vein intersection and Gemma Offset vein with low-grade mineralisation (>0.1 g/t gold) returned from all targets.

The Catherine Vein is 400 metres north of the main Trudi deposit and intersected 1-metre at 0.25 g/t in the furthest east hole so far – presenting a structural target to the east.

At Gemma Offset Vein, historical sampling returned gold grades up to 0.72 g/t in rock chip grab sampling along 300 metres of strike but the vein was never drilled.

One RC hole was drilled intersecting weak quartz veining and chlorite alteration with assay results returning 1-metre at 0.19 g/t.

Mt Remarkable exploration plans

The company considers the results from the 2020 RC drill program very encouraging with a new high-grade zone identified at the western end of the Trudi grid drilling and with the first +10 g/t gold high-grade drill intersection from a vein other than Trudi.

Exploration drilling will now focus on three main strategies:

  • Testing the known strike extent of the Trudi vein, to the west and to the east, with even spaced fence drilling (to a maximum depth of 100 metres);
  • Following up on the Jeniffer Vein; and
  • Reconnaissance exploration of the regional Mt Remarkable tenement holdings.

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

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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

4 min read