Highlights

• RC drilling at the Langrenus prospect has concluded, revealing significant new targets.
• The company has gathered 1,300 samples and is currently transporting them to the laboratory.
• Analysis is due to start next week.
• The rig is being relocated to commence drilling operations at the Commitment prospect.
• A total of 61 holes spanning 10,800 metres are planned across 13 prospects over the next four months

King River Resources Limited (ASX: KRR) has wrapped up RC drilling at the Langrenus prospect in the Tennant Creek region and is gearing up to initiate exploration work at the Commitment prospect. During the Langrenus campaign, the company drilled 11 holes covering 1,824 metres, uncovering promising new targets slated for future testing.

Approximately 1,300 samples have been collected and are currently en route to the laboratory. Analysis of the initial batch of samples is expected to commence next week.

Image source: company update

Langrenus Drilling tests two zones

The drilling primarily targeted two zones along the Mauretania-Hopeful Star trend. Target Area 1 is located 700 metres from the nearest historical mining site and 1kilometre along strike from the Mauretania prospect, where a significant drill result of 20 metres at 38.5g/t Au in a diamond drill hole was reported by Emmerson. Additionally, within this trend, around 300 metres from Mauretania, mining activity was undertaken historically on a quartz hematite lode.

Langrenus drilling focused on both Target Area 1 and 2, yielding promising results.

Data source: Company update

At the Target Area 1, the new intersection represents a structural target along strike of the complex ironstone and mineralised zone hosting Hopeful Star, Mauretania and the historical quartz hematite mining. Following completion of drilling at Commitment, the company intends to test the orientation and extents of the newly discovered quartz hematite zone.

At Target Area 2, further targeting will be conducted based on assay results.

Mauretania/Hopeful Star trend into KRR’s EL31619 at Langrenus, 2 main target areas and drilling completed May 2024.

Image source: company update

What’s next?

The company is swiftly progressing with its planned drilling of 61 holes spanning 10,800 metres. With the Langrenus drilling activities concluded, the rig will be mobilised to commence drilling at Commitment. Subsequently, exploration work will commence at the Providence area.

Throughout the year, the company intends to undertake further drilling phases at other project areas.

KRR shares were trading at AU$0.010 apiece at the time of writing on 4 June 2024.