King River Resources (ASX: KRR) Expands Kurundi Footprint with Strategic Acquisition, Shares Surge

May 12, 2025 01:41 PM AEST | By Aditi Sarkar

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King River Resources (ASX: KRR) Expands Kurundi Footprint with Strategic Acquisition, Shares Surge — Image source: Company update

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Highlights:

King River Resources has acquired tenement EL32116 for AUD 44,000, expanding its Kurundi exploration footprint.

The tenement covers key gold targets, including the northwest strike of the Kurundi vein and shear zone.

The tenement surrounds high-potential exploration targets, including gold, lithium, and tungsten.

KRR shares jumped over 21.4% following the acquisition announcement.

King River Resources Limited (ASX:KRR) has acquired the tenement EL32116 from Woodleigh Nominees Pty Ltd for AUD 44,000. The transfer process is expected to be completed by the Northern Territory Titles Department in the coming weeks.

Following the announcement, the company’s shares surged by over 21.4% during early Monday trading, reaching AUD 0.008.

The newly acquired tenement surrounds EL32200, hosting several key exploration targets. Notably, EL32116 covers the northwestern strike extent of the Kurundi vein and shear zone, where previous drilling hit high-grade gold intersections. Additionally, it includes a significant portion of the Kurundi Dome, home to the Priesters prospect, which has returned rock chip samples up to 49.5g/t gold.

The tenement also includes several sites of historical nuggety gold discoveries and workings, along with a domal structure to the southwest that shares similar rock units to the Kurundi Dome, presenting opportunities for gold, lithium, and tungsten exploration.

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