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Highlights
- The 2024 reverse circulation (RC) drilling program in the Tennant Creek Region has started, targeting 61 holes across 13 prospects.
- The first phase will focus on the Tennant Creek East group including the Langrenus, Commitment, and Providence prospects.
- The campaign will follow up on 2023 drill findings of ironstone, alteration, structure, and low-grade gold mineralisation.
- Further drilling phases are planned for other project areas in 2024.
King River Resources Limited (ASX: KRR) has kick started 2024 RC drill program in the Tennant Creek Region this week, aiming for 61 holes at 13 prospects, covering 10,800 metres. The program is expected to span the next four months.
The initial phase of the program will focus on the Tennant Creek East group. This phase will assess three main areas, beginning with the Langrenus prospect for seven holes spanning across 2,000m, followed by Commitment for four holes covering 850m, and then the Providence area for four holes covering 500m.
The campaign builds upon the findings of the previous year’s drilling, which identified ironstone, alteration, structure and low-grade gold mineralisation linked with dipole-dipole induced polarization (DDIP) and gravity anomalies.
Subsequent drilling phases are planned in other project areas throughout the year.
Image source: Company update
Background of the drilling campaign
During the extensive 2022-23 geophysical programme focused on the IOCG areas at the Rover East, Tennant Creek East, Barkly and Kurundi project areas, the company identified several targets along geological and geophysical trends linked with other significant deposits of high-grade gold and copper mineralisation including Rover, Bluebird and Mauretania.
Last year, the company completed 2,790m of RC drilling at the Providence prospect for 18 holes. The assay results reported significant grades, details here.
KRR shares traded at AU$0.010 apiece at the time of writing on 22 May 2024.
