King River Resources (ASX: KRR) Set to Build on Promising Gold Discoveries with 2025 Drilling Plans

Highlights

• King River’s Phase 1 drilling at Kurundi uncovered a high-grade gold zone with significant assay results.
• Drilling confirmed a southerly plunge to the high-grade gold mineralisation identified in 2022, with TTRC0103 and TTRC092 intersecting significant gold mineralisation.
• KRR plans additional drilling in 2025 to follow up on promising gold results and explore new targets.
• The company received a AU$2.4 million payment from the sale of the Speewah Project.

King River Resources Limited (ASX:KRR) has reported significant progress in its exploration activities for the quarter ended 31 December 2024. Key highlights include the completion of Phase 1 drilling at the Kurundi prospect, which uncovered promising gold results and a high-grade gold zone. Additionally, the company advanced exploration across multiple targets, with drilling planned for 2025 to follow up on key findings and test new areas.

Phase 1 Drilling at Kurundi Unveils Promising Gold Results

During the quarter, the company received the final batch of assay results from Phase 1 drilling at the Kurundi Prospect, part of the Tennant East Project area.

This drilling is part of KRR’s AU$2 million drill budget, aimed at following up on targets identified in the 2023 geophysics program, which focused on prospective IOCG and gold regions at Rover East, Tennant East, Barkly, and Kurundi.

Central target area: Drilling confirmed a southerly plunge to the high-grade gold mineralisation identified in 2022. TTRC0103 and TTRC092 intersected significant gold mineralisation. Four additional holes were drilled to test a vertical depth of 65 metres. All holes encountered strong structure, alteration, and veining. These results confirm the continuation of the central target zone at depth, with the presence of shearing and veining across the strike, suggesting strong potential for further deeper drilling.

New Targets in Sight as Drilling Continues

Drilling in 2024 was completed at Providence, Langrenus, Commitment, Kurundi Regional targets, and two phases at Kurundi Main, with assays pending for Kurundi Regional and Kurundi Main Phase 2.

KRR has planned additional drilling for 2025 to follow up on the most promising results. New targets for drilling in 2025 include Kuiper (Kuiper 1 and 2) and Rover East (BIF Hill East, Anomaly 5, and Explorer 42). KRR anticipates identifying more drill targets as it continues processing and interpreting 2023 geophysical results and 2024assay data.

Sale proceeds  

On 02 December 2024, KRR received the final payment of AU$ 2.4 million for the sale of the Speewah Project, in accordance with the revised payment terms announced on 12 February 2024.

As of 31 December 2024, the company’s cash balance stood at AU$5,535,231.

The share price of KRR was AUD 0.012 at the time of writing on 16 January 2025.