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King River Resources identifies potential for high-grade gold at Mt Remarkable and Tennant Creek

Published: 13:48 06 Aug 2021 AEST

King River Resources Ltd - King River Resources identifies potential for high-grade gold at Mt Remarkable and Tennant Creek.
Left: Quartz Adularia veining with sulphides at Tunganary; Right: Quartz breccia and veining with oxidised sulphides at Middle Branch.

King River Resources Ltd (ASX:KRR)'s ongoing exploration activities have discovered indications of potential high-grade gold mineralisation at its Mt Remarkable project in Western Australia and Tennant Creek Iron Oxide Copper Gold (IOCG) Project in the Northern Territory.

The company’s initial helicopter reconnaissance phase has been completed at Mt Remarkable with the discovery of new quartz veins and indications of mineralisation with assays pending.

In addition, the ground magnetics geophysical survey work has continued from last year at Tennant Creek where a thin veneer of Cambrian rocks covers the prospective Warramunga Formation units along strike of known historical mining and ironstones.

Opportunity for additional high-grade gold discoveries

King River has begun reconnaissance exploration at its regional Mt Remarkable Tenements which cover gold prospective rocks known as the Whitewater Volcanics extending 200 kilometres along a NE-SW strike south of the Speewah Dome.

This horizon extends from the Hunter Project held by WA Mining Resources Pty Ltd, where historical high-grade gold values of up to 50.65g/t gold have been returned through to King River’s Mt Remarkable Project and continue to the southwest hosting both the Tunganary and Middle Branch Bore gold prospects within anticlinal fold structure.

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

Further on-ground reconnaissance exploration at Tunganary

King River has collected a total of 88 rock chip grab samples from veining during this first phase helicopter reconnaissance programme.

Notably, quartz veining with indications of mineralisation (such as adularia, malachite and oxidised sulphides) was identified in five different areas

At Tunganary, numerous east-west quartz adularia veins with multiple structural orientations were identified.

Therefore, Tunganary will be the first project returned to by King River for further on-ground reconnaissance exploration due to its extensive veining and structural complexity.

Tennant Creek

Ground Magnetics has commenced at King River’s Tennant Creek Iron Oxide Copper Gold (IOCG) project.

The ground magnetics geophysical survey work has continued from last year with initial targets being immediately east of the Lonestar-Gigantic-Blue Moon IOCG trend where a thin veneer of Cambrian rocks covers the prospective Warramunga Formation units along strike of known historic mining and ironstones.

King River’s exploration is planned to continue in the Tennant Creek region during the year including: reconnaissance at the Kurundi Project and surrounding tenements, soil sampling in the areas around Edmirringee and Whistle Duck, ongoing ground magnetics and gravity on EL31619 (to test prospective ground immediately east of the Blue Moon and Gigantic mines) and airborne magnetics and VTEM on EL31633 and EL31634 in the Tennant East/Barkly Tenements.

Best targets will be prioritised for drilling.

- Ephrems Joseph

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