Australian exploration company King River Resources Limited (ASX: KRR) has reported the discovery of new ironstone bodies, lying 35km east of Tennant Creek under Georgina Basin’s Cambrian cover rocks.
The Company drilled a total of 11 reverse circulation holes for 2,376m at Lone Star Trend and Commitment, two of its Tennant East prospects. Drilling intersected the newly discovered ironstones at Commitment. Many geologists view Tennant Creek as one of Australia’s most prospective and highest-grade goldfield regions that remain underexplored.
Assay results returned from the ironstones are geochemically anomalous and indicate the prospectivity for hosting IOCG gold mineralisation.
KRR shares traded at $0.027 on 5 November 2020 (at 12:08 PM AEDT)