King River Resources (ASX:KRR) all set to begin 2023 Geophysical Survey at Tennant Creek - Kalkine Media

Highlights

• King River Resources (ASX:KRR) has announced its plans for the upcoming exploration developments for the year 2023 in the Tennant Creek Region.
• With its AU$1.25 million geophysical exploration programme, KRR intends to prioritise drill positioning over particular targets at sites surrounding the Tennant creek field.
• The programme will cover 50km of Dipole-Dipole Induced Polarisation (DDIP), 10km² of Gradient Array Induced Polarisation (GAIP), 340km² of detailed magnetics and 30km² of detailed gravity surveys across its Tennant Creek East, Kurundi, Rover East, and Barkly Projects.
• As part of the 2023 geophysical programme, the company is proposing 40 line km of DDIP, 5km² of Gravity and 160km² of detailed magnetics for testing numerous targets in this area.
• Besides the 2023 geophysical programme, reconnaissance work is planned for the Kurunidi Project to follow up on the 2022 high grade gold results.

ASX-listed exploration mining company King River Resources Limited (ASX: KRR) has laid out its plans for exploration developments scheduled for the year 2023 in the Tennant Creek Region.

The exploration programme has been designed with the purpose of prioritising drill positioning over particular targets at sites surrounding the Tennant creek field.

The programme will see:

• 50km of Dipole-Dipole Induced Polarisation (DDIP)
• 10km² of Gradient Array Induced Polarisation (GAIP)
• 340km² of detailed magnetics and
• 30km² of detailed gravity surveys across its four prime project areas: Tennant Creek East, Kurundi, Rover East, and Barkly Projects

Key metrics supporting exploration plan

Presently, the company believes that it is in an able position to budget and execute an AU$1.25 million geophysical exploration programme. This comes on back of the successful transaction relating the sale of KRR’s Speewah Project to Tivan Limited.

KRR hosts substantial holdings (+7,000km²) in the Tennant Creek and Barkly areas where excellent potential of the field was demonstrated during recent exploration success by Tennant Minerals, Castille and Emmerson.

As per the company, the results from the recent work at Tennant Creek project has been excellent. This includes high grade rock chip grab samples (up to 49.5g/t Au) and high-grade gold drill results (7m @ 6.35g/t Au including 2m @ 21.3g/t Au) from the Kurundi Project and newly received reconnaissance rock chip grab sample results up to 23.5g/t Au from the Tarragans Prospect.

Tennant Creek East Project

Tennant East Project area magnetics (black and white) and gravity (coloured) with main target areas
Image source: Company update

Tennant Creek East Project is situated only 3km along strike of the geophysical units that host Tennant Minerals Bluebird Deposit where diamond drill intersection of 63m @ 2.1% copper and 4.6gpt Au from 153m including 27.55m at 3.6% Cu and 10gpt Au and 7m at 38.5gpt Au was returned.

Also, KRR’s ground is directly along strike of the Lone Star IOCG trend that has Emmerson’s Mauretania deposit, the Blue Moon, Gigantic and Metallic Hill historic mines and many other prospects and historic workings (located within 1km of the tenement boundary).

As part of the 2023 geophysical programme, the company is proposing 40 line km of DDIP, 5km² of Gravity and 160km² of detailed magnetics for testing numerous targets in this area.

Rover East Project

The Rover East Project is along strike of the geophysical units that includes the Rover and Explorer deposits of the Rover field, where Castile Resources intersected 30.4m @ 35.6g/t Au in 2021. There are several crucial geophysical targets within the Rover East Project and proven geochemically anomalous ironstones.

Data source: Company update 

Barkly Project

The Barkly Project is based in a geophysical corridor which strikes between Tennant Creek and Mount Isa. This area has been highlighted as a new unexplored region with IOCG potential, as per the government precompetitive work.

Different exploration companies (such as Newcrest, Middle Island, Greenvale and others) have pegged all the available ground. The Middle Islands Crosswinds prospect, where a malachite rich exposure has been discovered at surface (130m @ 0.76% Cu), shows the raw, unexplored potential of the field. King River includes more than 2,000km² in six tenements within this area.

Exploration activities are being undertaken at the Epennarra tenements (EL31633 and EL31634) following successful Collaboration grants from the NT Government. KRR has identified many magnetic and VTEM anomalies in geologically significant settings. As per the company’s interpretation, these targets are within Warramunga equivalent units under shallow Cambrian cover and represent quality IOCG targets.

KRR is proposing 12 line km of DDIP and 150km² of detailed magnetics to test multiple targets in this region.

• Work will target the new VTEM highs identified by the 2022 collaboration survey which are coincident with magnetic anomalies and structures.
• Detailed magnetics will also be flown over other targets including EL31623 which covers 18km of magnetically anomalous units interpreted to be Warramunga equivalent rocks under shallow Cambrian cover.

Kurundi Project

A large, sparsely explored region is covered under the Kurundi Project where King River Resource has detected high-grade gold mineralisation. From the recent drilling at the Kurundi historic workings, KRR received high grade gold intersections, near surface, from several RC drill holes.

Reconnaissance rock chip grab sample results at the Tarragans Area: red labels – new results (Table 1), yellow labels ASX KRR: 1/9/22

Image source: Company update

This RC drilling has demonstrated the potential of the Kurundi area with mineralisation being hosted by a persistent thick shear zone and quartz vein (broad mineralisation envelopes up to 12m in true width), continuous along strike and at depth.

Source: © 2023 Krish Capital Pty. Ltd.

Kurundi Reconnaissance

Besides the 2023 geophysical programme, reconnaissance work is planned for the Kurunidi Project to follow up on the 2022 high grade gold results. Targets will include the Epenarra south tenements, Murray Downs tenements, Millers and Tarragans areas.

Tarragans Reconnaissance exploration in the Kurundi Region late 2022 delivered new results with high grade rock chip grab sample result of 23.93g/t Au from the Tarragans prospect. Also, a new mineralized structure was found 1.5km west of Tarragans with best result returning 1.66g/t Au.

Gold mineralization in the Tarragans area is within sandstone beds and is identified by quartz veins, fault zones and iron alteration. There are many historical workings and prospector diggings across the region with reports of important gold nugget finds.

At the Millers area (20km NW of Kurundi main) a significant fault associated hematite-magnetite ironstone has been discovered. The ironstone is visually similar to typical Tennant Creek style ironstones with rock chip grab sampling returning geochemically anomalous values including 0.18g/t Au and elevated Bismuth, Molybdenum and Antimony. This is the third gold mineralized structure discovered in the Millers Area and further reconnaissance work is planned.

Data and image source: Company update

Bottom line

The ASX-listed firm plans to begin the 2023 exploration program this month, initiating with reconnaissance and magnetics and gravity surveys. Also, IP surveys will be done on priority as per targeting criteria should new targets be detected.