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Highlights
- LiDAR modelling identified approximately 467,659m of historical waste dump and stockpile material, outlining a significant near-surface evaluation opportunity at the Mindoolah Gold Project.
- Phase 1 RC drilling covering 1,690 metres across 167 holes was completed ahead of schedule, with laboratory assay results pending.
- A high-resolution UAV magnetic survey has been completed, providing data for structural interpretation and drill-target refinement across the Mindoolah Mining Centre.
- Integrated analysis of LiDAR, geological mapping, historical drilling and surface geochemistry identified multiple priority structural targets across the Excelsior, Cundy, Bertram's and Mindoolah Main Reef prospects.
- The company ended the June 2026 quarter with AUD 3.68 million in cash and no debt.
King River Resources Ltd (ASX:KRR) has reported significant exploration progress at its Mindoolah Gold Project in Western Australia's Murchison Province, with multiple work programs completed during the quarter ended 30 June 2026. The company advanced LiDAR survey, completed Phase 1 stockpile drilling ahead of schedule, carried out a high-resolution UAV magnetic survey, and commenced exploration drilling beneath historical pits. Laboratory assays from the stockpile drilling remain pending.
LiDAR Survey Identifies Extensive Surface Material
A key milestone during the quarter was the completion of LiDAR-derived volumetric modelling, which identified approximately 467,659 cubic metres of historical waste dump and stockpile material across the project's principal mining areas. The company stated that these outcomes establish a substantial near-surface evaluation opportunity at the project.
The largest surface inventories were mapped at Excelsior (285,630m), Cundy (79,511m) and Mindoolah Main Reef (75,195m), with additional material identified at Le Soleil and smaller miscellaneous stockpiles.
The survey also compared historical open-pit excavation volumes with remaining surface material and reported historical production records. The reconciliation identified a difference between excavated volumes, stockpiled material and historical production data. The results combined with selective grab sampling results supported its decision to undertake systematic drilling to evaluate grade distribution, continuity and the potential value of the remaining surface material.
Drilling Program Moves Beyond Historical Stockpiles
During the quarter, the company completed Phase 1 RC drilling across the historical waste dumps at Excelsior, Cundy and Mindoolah Main Reef ahead of schedule.
The program comprised approximately 1,690 metres across 167 drill holes, designed to assess gold distribution and material variability within the historical stockpiles. All collected samples have been submitted for laboratory analysis, with assay results pending.
Following completion of the stockpile program, the drilling rig was redeployed to shallow hard-rock exploration targets beneath and adjacent to historical pits, shafts and interpreted mineralised structures. Approximately 1,000 metres of additional drilling has been planned to test geological targets identified through LiDAR interpretation, historical drilling records, surface geochemistry and pit-wall mapping.
Integrated Exploration Defines Priority Targets
The company also completed a low-altitude UAV magnetic survey across the Mindoolah Mining Centre using 25-metre line spacing, generating a detailed magnetic dataset for drill-target refinement and structural interpretation.
The survey is designed to improve the identification of shear zones, lithological contacts, cross-cutting faults, magnetic breaks, intersections between multiple trends and potential extensions of quartz reef mineralisation. Magnetic data acquisition and processing have been completed, with interpretation currently underway.
By integrating LiDAR mapping, geological interpretation, historical drilling and surface geochemistry, the company has identified multiple prospective structural intersections, quartz-vein corridors and lithological contacts across the Excelsior, Cundy, Bertram's and Mindoolah Main Reef prospects.
Corporate Position
As of 30 June 2026, the company reported cash of AUD 3.68 million with no debt. During the quarter, the company generated AUD 3.33 million from the sale of a portion of its investment in Tivan Limited, while retaining 90 million Tivan shares valued at AUD 26.55 million.
King River Resources completed several exploration milestones at the Mindoolah Gold Project during the June 2026 quarter, including LiDAR-based surface assessments, Phase 1 stockpile drilling, UAV magnetic surveying and follow-up exploration drilling. With assay results pending and interpretation of the magnetic survey continuing, the company is progressing multiple datasets that will support drill targeting and ongoing evaluation across the historical mining centre.
KRR shares were trading at AUD 0.061 per share at the time of writing on 28 July 2026.
