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Gold hunt on cards for King River Resources’ (ASX:KRR) 2022 game plan  

Image Source: KRR Website

Highlights

  • King River Resources plans to test its quality gold exploration targets during 2022.
  • Exploration at Tennant Creek would focus on the Kurundi Main prospect, Lonestar Trend prospect, Barkly Project and Tarragans Project.
  • The 2022 exploration program will cover drill testing of high-grade gold results at Mt Remarkable.

Australian explorer King River Resources Ltd (ASX:KRR) is set for an exciting gold exploration program during 2022.

The Company recently unveiled its 2022 exploration targets for gold projects including Tennant Creek in the Northern Territory and Mt Remarkable in Western Australia. The exploration plan is underpinned by the return of rock chip assays and interpretation of the 2021 geophysical results.

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The Company undertook on ground reconnaissance exploration and airborne geophysical work across a range of targets during the 2021 exploration program to generate quality drill targets. However, various protocols due to the COVID-19 pandemic, rig and staff availability, and long delays in receiving assay results severely disrupted the 2021 exploration season.

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Exploration planned at Tennant Creek

King River is focused on exploration at several Tennant Creek targets, including ‘Kurundi’ Main, Lonestar Trend prospect, Barkly Project area and Tarragans Project.

KRR’s Tennant Creek tenement holdings and Project Areas over 1vd black and white magnetics

Source: KRR Update, dated 18 February 2022

‘Kurundi’ Main

The priority drill target in 2022 is the high-grade gold prospect, ‘Kurundi’ Main, where rock chip grab samples returned multiple +10g/t Au results, some up to 17.25g/t Au. The encouraging results have been received along a 2km mineralised trend that has never been tested with drilling.

The Company plans to commence reverse circulation (RC) drilling at the Kurundi Main high-grade gold target in May 2022.

Lonestar Trend Prospect

The drilling program would then focus on coincident gravity and ground magnetic targets identified at the Lonestar Trend area. Situated immediately east of the Tennant Creek gold field, the Lonestar Trend area lies within proximity to historic workings and outcropping ironstone trends.

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Barkly Project

King River holds more than 1,600km2 in the highly contended Barkly area, where multiple magnetic high targets are likely to be tested in 2022.

The Company has booked a VTEM Max survey to be flown over both EL31634 and EL31633 in mid-2022, targeting both shallow stratiform copper deposits in the Cambrian cover units and IOCG deposits in the Warramunga units interpreted beneath.

The survey will follow up on the magnetic targets identified in both tenements.

Tarragans Project

Reconnaissance exploration in the Kurundi -Tarragans area is planned together with the Planned 2022 Kurundi RC drill program.

Exploration planned at Mt Remarkable

In 2021 exploration program at Mt Remarkable, King River targeted its regional tenement holdings covering approximately 175km of prospective Whitewater volcanic rocks. These rocks are host to high-grade gold mineralisation at the Company’s Mt Remarkable main project and WA Mining Resources’ Hunter Project.

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King River has indicated that the focus of drilling at Mt Remarkable in 2022 will be:

  • RC Drilling of Middle Branch, where rock chip grab samples returned high-grade gold results of 7g/t Au and follow up sampling returned 9.3g/t Au.
  • RC Drilling at Tunganary, where a complex epithermal vein system has been identified with anomalous gold values.
  • RC drilling at Mt Remarkable Main Prospects including the Trudi Offset area and Jennifer North, where high-grade gold was intersected during 2020 RC drilling.

Also, a new target area called Sandy Creek has been identified. The target area has returned anomalous grades up to 0.15g/t Au in rock chip grab samples. Reconnaissance exploration of the priority areas within the Company’s regional tenements will also continue.

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Bottom Line

King River is well-positioned to test its quality gold exploration targets during 2022 with initial drilling at high-grade gold prospect, Kurundi Main slated for May this year.

Exploration will continue during the year to test its other priority gold targets including drill testing of high-grade gold results at Mt Remarkable including the Middle Creek and Mt Remarkable Main Areas.  The Company aims to generate and progress new quality gold targets with the latest geophysical techniques and reconnaissance in the Tennant Creek/Barkly region.


 


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