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Highlights
- King River’s 2024 drilling at the Kurundi Main prospect led to the discovery of a new high-grade gold zone.
- Last year, KRR allocated an AU$2 million drill budget to follow up on targets generated from its extensive 2023 geophysics program.
- Planned new targets for drilling include Kuiper (Kuiper 1 and 2) and Rover East (BIF Hill East, Anomaly 5, and Explorer 42).
- In September, KRR reported significant geochemical anomalies from the 2024 drilling at Langrenus and Providence.
Australia-based exploration and mining company King River Resources Limited (ASX:KRR) saw a strong rally on Thursday’s trading session. The company’s share closed the day at AU$ 0.018 on the ASX with an upsurge of 38.461%.
King River continues to make significant strides in its gold exploration efforts. Earlier this month, the company revealed promising results from its 2024 drilling at the Kurundi Main prospect within the Tennant East project area. These results include the discovery of a new high-grade gold zone, situated 250m south of the central main workings, with notable findings such as:
TTRC098: 9m @ 1.62g/t Au from 49m including 1m @ 12.75g/t Au from 53m.
The location of KRR’s tenements and projects drilled in 2024 are shown below:
New Drilling Zones Based on 2023 Geophysical Data
KRR's recent drilling efforts aimed at expanding the high-grade gold mineralisation previously discovered in 2022. It also aimed at testing alternative structural positions identified in detailed drone magnetics completed in 2023.
KRR anticipates generating additional drill targets as it continues processing and interpreting the 2023 geophysical results for other project areas. Planned new targets for drilling include Kuiper (Kuiper 1 and 2) and Rover East (BIF Hill East, Anomaly 5, and Explorer 42).
Encouraging Drilling Results at Langrenus and Providence
In September, KRR reported significant results from the 2024 drilling at Langrenus and Providence. Geochemical anomalies were identified, with values up to 0.2g/t Au, 0.91% Cu, 34g/t Ag, 65ppm Bi, 93ppm Sb, 206ppm As, and 178ppm Co. These anomalies are associated with newly discovered ironstone, alteration, and structural zones.
King River Resources Limited is making significant strides in its gold exploration efforts, with promising results from recent drilling campaigns and the discovery of high-grade gold zones at its Tennant East project. By utilising geophysical data and expanding its drilling targets, the company is advancing its exploration initiatives, a strategy expected to guide future efforts and uncover potential discoveries.
