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Highlights
- In 1HFY25, KRR conducted an extensive drilling program at Tennant Creek to follow up on targets identified during the 2023 geophysics program.
- Assays from the drilling program revealed notable geochemical anomalies and promising gold results.
- Additional drilling is planned for 2025 to follow up on the best results from the exploration efforts.
- In February, King River announced the finalisation of the sale of the Speewah project to Tivan Limited.
King River Resources Limited (ASX:KRR), an Australia-based mineral exploration company, has released its half-yearly report for the six months ended 31 December 2024 (1HFY25). The period saw continued exploration and drilling activities at the company’s Tennant Creek project.
King River holds a portfolio of 100% owned tenements covering approximately 6,641km2 in the Tennant Creek region of the Northern Territory. Additionally, the company owns tenements totalling approximately 351km2 in the East Kimberley region of Western Australia.
New Gold Zone Identified
Assays from the drilling program revealed notable geochemical anomalies and promising gold results. Notable findings include the discovery of a new high-grade gold zone located south of the central main workings, along with the identification of a potentially new style of mineralisation.
The company has planned additional drilling for 2025 to follow up on the best results from the exploration efforts.
As of 31 December 2024, King River reported a cash position of AUD 5,535,231 and held 100 million shares in Tivan Limited (ASX:TVN), valued at AUD 10 million. The company had 1.53 billion fully paid ordinary shares outstanding as of 31 December 2024. In February, King River finalised the sale of the Speewah project to Tivan Limited.
KRR shares were trading at AUD 0.008 at the time of writing on 05 March 2025.
