- King River Resources (KRR) is progressing exploration at its Mount Remarkable Project in Western Australia and Tennant Creek Project in the Northern Territory
- A recent helicopter survey at Mount Remarkable led to KRR discovering new quartz veins and potential mineralisation, but full assays are pending
- Exploration at the Tennant Creek Project includes an airborne magnetic survey which will be partially funded by the Northern Territory Government
- Additional work includes reconnaissance activities, soil sampling and surveys, and the most significant targets will be prioritised for drilling
- Company shares are trading steady at 2.8 cents at 2:08 pm AEST
King River Resources (KRR) has given an update on exploration work at its Mount Remarkable and Tennant Creek gold projects.
Mount Remarkable
The company began reconnaissance work across six tenements at Mount Remarkable which is located in Western Australia. These tenements cover gold prospect rocks known as the whitewater volcanics which are host to high-grade gold mineralisation.
The initial helicopter phase has been completed and collected 88 rock chip samples. While assays are pending, the company observed new quartz veins and potential mineralisation.
Tennant Creek
King River also commenced ground magnetic survey work at the Tennant Creek Iron Oxide Copper-Gold Project in the Northern Territory.
This work has continued from last year with initial target sitting immediately east of an IOCG trend.
To assist with a planned airborne magnetic survey, the company was granted a collaboration through the NT government’s Resourcing the Territory program. This will grant up to 50 per cent of the direct exploration costs over EL31634.
This tenement sits in the highly prospective East Tennant and Barkly region which was recently identified as prospective for mineralisation.
Additional work in the Tennant Creek region will include reconnaissance at the Kurundi Project and surrounding areas, soil sampling near Edmirringee and Whistle Duck, and ongoing survey work across multiple tenements. King River will prioritise the best generated targets for drilling.
Company shares were trading steady at 2.8 cents at 2:08 pm AEST.