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King River Resources (ASX:KRR) jumps on gold drilling update for Tennant Creek

Image Source: Company website

Highlights

  • King River Resources is set to commence an RC drilling campaign over its Tennant Creek project this week.
  • The campaign will focus on the Kurundi Main high-grade gold prospect, which returned gold values up to 17.25g/t in a rock chip sampling program.
  • The Company plans several RC fences along and across a 2km mineralised trend that has never been drill tested.

King River Resources Limited (ASX:KRR) is set to kick off its 2022 gold exploration program with reverse circulation (RC) gold drilling at its Tennant Creek project. The ASX-listed mineral explorer expects to commence the campaign on 4 June 2022. The ‘Kurundi’ Main prospect on the tenement package will be the priority target of the drilling program.

Triggered by the update, KRR shares traded 4.55% higher to AU$0.023 on 2 June 2022.

King River operates two gold projects- Mt Remarkable in the WA region and Tennant Creek in the NT region. The Company is also active in the exploration and development of speciality metals including vanadium, high purity alumina, titanium, and iron.

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

Priority drill target - Kurundi Main

Located within EL32200, the Kurundi Main prospect hosts a part of the Kurundi Anticline and the main historical gold workings along the historic shaft and small pit on Kurundi.

Rock chip sampling locations and interpreted strike represented by yellow-dashed line

(Image source: Company update, 2 June 2022)

The priority drill target, Kurundi Main, exhibited high-grade gold findings in a previously conducted rock chip sampling program. The program returned multiple +10g/t Au results, with some samples delivering gold values up to 17.25g/t.

The rock chip sampling program was carried out along a 2km mineralised trend on the project that has never been drill tested.

The exploration plan is focused on conducting several RC fences along and across the prognosed ~2km trend of this mineralised structure.

Also read: King River Resources’ (ASX:KRR) HPA project gathers steam with recent developments

Lonestar Trend to undergo drilling next

After finalising drilling over the Kurundi Main prospect, the Company plans to drill test the targets on the Lonestar Trend area.

Tennant Creek tenement holdings showing project area with 1vd black and white magnetics

(Image source: Company update, 2 June 2022)

The coincident gravity and ground magnetics targets, located east of the Tennant Creek goldfield, lie in proximity to historic workings and outcropping ironstone trends.

Moreover, a new gravity geophysical processing revealed a trend of gravity anomalies along a 700m long strike of the Mauretania/Hopeful Star trend. A diamond hole on the trend (by Emmerson) returned 20m @ 38.5g/t Au.

Related read: Inside King River Resources’ (ASX:KRR) quest to supercharge gold exploration


 


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