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- King River Resources continues to march ahead with a flurry of developments across its Australian project portfolio.
- Endeavours directed towards high purity alumina production are advancing well.
- The explorer has received high-grade results from drilling at its gold projects.
Australian explorer King River Resources Limited (ASX: KRR) has embraced a progressive strategy that has consistently proven successful to expedite its diverse projects.
The Company recently witnessed high-grade gold results from its exploration ventures at Mt Remarkable Gold project and Tennant Creek Project. Meanwhile, King River Resources is advancing well towards producing 4N High Purity Alumina (HPA), known for its growing applications.
Let us look at some significant progress at its key undertakings.
HPA Production at >4N (99.99%) Purity
KRR has carved out a more direct path towards producing HPA on the back of metallurgical testwork and engineering costings, which were undertaken as part of the Speewah Project prefeasibility study (PFS).
The new route involves the use of industrial chemical feedstock material rather than using the Speewah feedstock. Also, it outlines a lower risk and faster path towards the HPA production.
Notably, the achievement of a high purity HPA precursor was made via merely two purification process steps, significantly fewer than that required for the Speewah feedstock option. HPA batches of >4N (99.99%) purity were then produced through calcination of high purity precursor materials.
After evaluating several sites in Western Australia and Queensland, KRR has opted to base its HPA plant in the Kwinana area, situated within the Western Trade Coast industrial area.
High-Grade Results from Tennant Creek Project
From reconnaissance exploration, King River Resources also hit high-grade gold, silver and copper rock chip sample results at its Kurundi Project.
The Company took 80 grab samples from newly granted exploration licences, which include EL32199 and EL32200 in the Tennant Creek/Davenport region. High-grade gold results have been returned from several locations.
Source: Copyright © 2021 Kalkine Media Pty Ltd, Data Source: KRR ASX update, dated 5 March 2021
Encouraging Gold Outcomes at Mt Remarkable Project
King River Resources notched up a new high-grade gold intersection, on a vein other than the Trudi Vein, at its Mount Remarkable Project. A total of 33 holes were drilled for 2,310m in late 2020, with all assays received.
The 2020 RC drilling program at the Jeniffer Vein returned encouraging results with best result of 2m @ 8.44g/t Au including 1m @ 14.8g/t Au. The outcome represents the first +10g/t gold result intersected outside of the Trudi Main prospect and boosts exploration of other veins at the project area as well as on other tenements held by KRR.
In another set of excellent results, the Company intersected 6m @ 5.25g/t Au including 1m @ 30.1g/t Au at the western side of the main Trudi 5m grid drilling. Meanwhile, exploration drilling has returned significant results at Trudi Offset, Trudi East and other exploration targets.
KRR shares were trading 2.777% higher to AUD 0.037 on 16 April 2021 (AEST 12:16 PM).