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Highlights
- King River Resources has secured an exclusive option to acquire the Mindoolah Gold Project in Western Australia.
- The project recorded historic production averaging 19.02 g/t gold for about 5,726 ounces.
- Historical drilling outlined multiple shallow high-grade intercepts that remain unmined.
- Recent rock chip sampling returned assays up to 40.2 g/t gold.
- The 2026 program targets geophysics, bulk sampling, structural mapping, and air-core drilling.
- KRR shares surged 32% during the today’s trading.
King River Resources Ltd (ASX:KRR) has stepped into what it calls a new chapter, one defined by a fresh asset. The company has secured an exclusive option through its wholly owned subsidiary, Auradoolah Pty Ltd, to acquire the Mindoolah Gold Project, located 70km north-west of Cue.
KRR’s stock gained traction in today’s trading session (17 February 2026), rising nearly 32% to AUD 0.029 following this news.
The option, valued at A$225,000 and expiring on 30 June 2026, converts to a A$600,000 cash payment on exercise, alongside a 1% net smelter royalty on deep ore (capped at A$1,000,000) and a 10% gross revenue component on shallow ore.
KRR’s Managing Director Graham Gadsby described the acquisition as a move toward high-grade opportunities within established mineralised corridors, citing the project’s historical average gold production grade of 19.02 g/t, equivalent to approximately 5,726 ounces.
Historic Grades and Unmined Intercepts
Records from earlier exploration and mining outline multiple high-grade drill results that remain unmined at shallow depths. These include intercepts such as:
- 4m at 9.30 g/t gold from 33m
- 4m at 8.85 g/t from 32m, and
- 2m at 9.38 g/t from 33m.
Recent sampling includes 40.2 g/t Au (MDS0225), 31.7 g/t Au (MDS0286), and 26.8 g/t Au (MDS0224).
A Tier-1 Gold Province
Mindoolah sits within the Murchison Province, a region with an estimated gold endowment exceeding 35 million ounces. The project benefits from access to the Great Northern Highway and proximity to operating mines. Its 100km² tenure covers prospective greenstone sequences, much of which remains concealed beneath shallow cover and has seen limited modern exploration.
Why the Ground Remains Open
Mining at Mindoolah dates back to around 1901, when operations were constrained by the water table at roughly 21m depth. Later shallow open-pit work in the 1980s ended during a period of low gold prices rather than due to depletion of mineralisation, leaving high-grade zones in place.
With the acquisition agreement for the Mindoolah Gold Project in Western Australia’s Murchison Province, KRR is aligning its exploration plans with a project that carries historic high-grade production, shallow unmined intercepts, and a broad under-explored tenure.
