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King River Resources (ASX: KRR) strikes high-grade gold at new vein on Mt Remarkable

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Summary

  • King River Resources has received high-grade gold results from the Jennifer Vein at its Mount Remarkable Gold Project.
  • This is the first +10g/t gold result outside of the Trudi Main prospect.
  • The Company has received significant results from other exploration targets.
  • Reconnaissance exploration is planned for the extensive tenement holdings in the region.

The shares of King River Resources Limited (ASX:KRR) marked an uptick of 3.85% on 23 February 2021 after the release of fresh top-notch results from its 2020 Reverse Circulation (RC) drilling at Mount Remarkable Gold Project.

The latest update unveils a new high-grade gold intersection at the Jeniffer Vein. This is the first time such robust results have been achieved outside of the Trudi main prospect, reverberating encouraging exploration potential of new veins at the Company’s WA gold project. Meanwhile, the Company has reported significant results from other targets including Trudi Offset, Trudi East, Catherine Vein and Gemma Offset Vein.

In the 2020 gold exploration program, KRR completed 33 holes for 2,310 metres, with assays received for all the holes.

ALSO READ: King River Resources (ASX:KRR) Shining in the Hale and Hearty Gold Market

Robust Results from Jeniffer North

In 2020, drilling was undertaken at eight reverse circulation holes at Jeniffer North (over a strike length of 250m). Results for the last two holes have been returned with KRR267 delivering a high-grade intersection located 3km from the main Trudi Vein, outside of the main project area. 

  • KRR267- 2m @ 8.38g/t Au including 1m @ 14.8g/t Au within a 5m zone @ 3.45g/t Au
  • KRR266- 3m @ 1.02 including 1m @ 1.43g/t Au

The mineralisation at the prospect is currently open to the east and west, with further exploration planned to determine its strike extends outside the known quartz adularia outcrops. The follow-up exploration program including exploration reconnaissance and drilling will be undertaken to test the extensions to the veins.

The Company also plans to continue testing for other high-grade mineralisation zones. It intends to undertake drilling at Jeniffer South, where 2018 drilling intersected an early plunge to 3.16g/t Au.

Exploration at Trudi Offset

Five holes were drilled at Trudi Offset, approximately 150m east of the main Trudi deposit, to test the mineralised zone discovered in 2019.

KMRC255 (the easternmost drill hole) hit 2m @ 0.15g/t gold and 4m @ 0.33g/t gold including 1m @ 0.67g/t gold within a anomalous zone (13m) averaging 0.13g/t Au.

As per the previously announced assay results, the best assay result from the target includes 2m @ 2.87g/t Au including 1m @ 4.34g/t Au (KMRC0248).

Bolstered by positive results, KRR will undertake further exploration drilling above and down plunge of the intersections from the last year’s drilling program.

ALSO READ: More Golden Glory for King River Resources (ASX:KRR) at Mt Remarkable

Drilling Results from Trudi East 

KRR has received results for the remaining three drill holes out of the five holes completed.  Notably, the best result was returned from the shallowest easternmost hole (KMRC255) with three zones intersected at the western end of the drilling.

  • 4m @ 0.25g/t Au from 8m
  • 1m @ 0.1g/t Au from 16m
  • 1m @ 0.15g/t Au from 30m

Mineralisation open to the east, west and at depth will be subjected to further drilling to explore higher-grade gold zones.

Results from Other Targets

The Company has received assay results from other targets, returning low-grade mineralisation. 

  • Catherine/Grahame Vein intersection

Significant quartz-adularia veining was intersected by the two RC drill holes, confirming the interpreted targeted position of the Catherine Vein. The furthest east hole so far, KMRC269, returned 1m @ 0.25g/t Au. 

The encouraging results present an excellent structural target to the east.

  • Gemma Offset Vein

This vein was never drilled despite gold grades up to 0.72g/t received from historical rock chip grab sampling along strike of 300m in length. One RC hole drilled has returned 1m @ 0.19g/t Au.

Further Exploration Plans at Mt Remarkable

Buoyed by the encouraging results and high-grade hits from a vein other than Trudi, the Company would ramp up exploration efforts at the Mt Remarkable Project. 

KRR would kickstart reconnaissance exploration across its extensive tenement holdings at the earliest in the dry season, starting in May. The Company plans to follow up exploration as well as drilling of new targets and discoveries in 2021. 


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