King River Resources (ASX:KRR) - Chairman, Anthony Barton
Chairman, Anthony Barton
Source: Business News
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • After COVID-19 delays, King River Resources (KRR) will commence its 2020 gold exploration program next month
  • The company will conduct 2500 metres of reverse circulation drilling at the Mt Remarkable Project in WA
  • This drilling will follow up on high-grade gold results
  • Additionally, King River will drill 2000 metres across its Treasure Creek Project within the Tennant Creek region of the Northern Territory
  • Drilling will follow up on positive geophysical results and target iron oxide copper-gold deposits
  • Company shares are up 13.3 per cent and are trading for 3.4 cents each

After COVID-19 delays, King River Resources (KRR) will commence its 2020 gold exploration program next month.

The company will undertake exploration at Mt Remarkable, where multiple high-grade gold results were returned last year, and Tennant Creek, where the company will target high-grade iron oxide copper-gold (IOCG) deposits.

Mt Remarkable

Mt Remarkable is located 200 kilometres southwest of Kununurra in the East Kimberley region of Western Australia.

King River has planned a 2500 reverse circulation (RC) drilling program at the Mt Remarkable Project to follow up on previous high-grade results.

High-grades include four metres at 113.29g/t gold including one metre at 346g/t gold, six metres at 60g/t gold including 2.8 metres at 108g/t gold and four metres at 39.78g/t gold including one metre at 82.7g/t gold.

Specifically, RC drilling will focus on the Trudi offset target where a new mineralised zone has been discovered 150 metres east of the main Trudi deposit.

Other targets include the Jennifer North prospect, eastern most extents of the Trudi Vein, and a new target where the Catherine Vein intersects the Grahame Vein.

The project covers the Whitewater Volcanics which is the rock unit that hosts the high-grade gold mineralisation. King River believes further high-grade deposits are yet to be discovered.

Additionally, the company is planning reconnaissance exploration along the Whitewater Volcanic rocks. This exploration is aimed at making additional high-grade gold discoveries.

Tennant Creek

King River Resources will commence a 2000-metre RC drilling program at its Treasure Creek Project which lies within the Tennant Creek region of the Northern Territory.

Drilling will follow up on positive geophysical results from ground magnetics and gravity surveys. Reconnaissance exploration and geophysical surveys will follow the drilling program to advance further priority targets.

King River holds 7900 square kilometres across 16 tenements in the Tennant Creek region. These cover four project areas which comprise Tennant Creek East, Tennant East/Barkley, Rover East and Kurundi.

Exploration will target IOCG mineralisation that is characterised by gold and copper mineralisation associated with ironstone bodies.

Company shares are up 13.3 per cent and are trading for 3.4 cents each at 1:40 pm AEST.

KRR by the numbers
More From The Market Online

Provident Aurum’s off-market bid sends Sihayo shares soaring

Small-cap mineral and gold explorer, Sihayo Gold (ASX:SIH) shares have soared, on news that the company…

It’s hard to imagine a world without a mining company called Anglo American

Growing up in South Africa it seemed inconceivable that Anglo American, a mining colossus at its zenith…
The Market Online Video

Geology is King: Sun Silver says Maverick Springs will outshine high-grade Australian mines

Sun Silver Ltd (ASX:SS1) is seeking gold, silver and pathfinder elements at their Maverick Springs project…

Viridis’ Brazilian holdings good for both light and heavy REEs, results beyond 27K ppm

Viridis Mining and Minerals (ASX: VMM) has remained steady on the market today on grades topping 27,000 parts per million from its rare