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King River Resources’ Mt Remarkable Project returns significant gold values

Highlights

  • Helicopter reconnaissance exploration at KRR’s Mt Remarkable regional tenement holdings has returned significant gold values.
  • The Company received a high-grade gold result of 7g/t from rock chip grab sampling in the Middle Branch area, which is a newly discovered area of veining.
  • Further exploration is planned at the Company’s Mt Remarkable and Tennant Creek project areas.

King River Resources Limited (ASX:KRR) is charging ahead with significant gold values returned from helicopter reconnaissance exploration of its Mt Remarkable regional tenement holdings in the Kimberley region of Western Australia.

The Australian explorer in its latest update has highlighted that the gold mineralisation achieved from the first phase helicopter reconnaissance is very encouraging.

The Company announced a high-grade gold result of 7g/t Au from rock chip grab sampling in the Middle Branch area, which is a newly discovered area of veining.

Notably, KRR holds more than 150 kilometres in strike length of sparsely explored prospective Whitewater Volcanic rocks, which host the high-grade gold mineralisation at the Mt Remarkable Project.

The initial helicopter reconnaissance phase has returned significant results from three main areas, which include Tunganary, Middle Branch and Hunter West.

Helicopter Reconnaissance, Gold Results, Mt Remarkable

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KRR prioritises Middle Branch for further reconnaissance

The Middle Branch area is exposed at the centre of an eroded anticlinal dome. Multiple epithermal vein structures have been discovered, with all sampled veins returning anomalous gold values.

High-grade gold result includes 7.01g/t Au from a grab sample of a steeply dipping and 3-4 metres wide quartz breccia striking Northeast/Northwest. Moreover, the sample also returned strongly weathered sulphides.

The Middle Branch area has been prioritised for further reconnaissance before drill targeting.

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Tunganary to see detailed mapping and sampling

During a brief helicopter visit, KRR noted several east-west quartz adularia veins with multiple structural orientations as well as major northeast striking structures in the area.

Malachite and oxidised sulphides were identified in some of the quartz adularia veins. Moreover, significant results were returned from two veins sampled in the program.

Due to the structural complexity and multiple veins, the Company has prioritised the area for detailed mapping and sampling in subsequent land-based reconnaissance visits.

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Encouraging assays from Hunter West

The Hunter West area lies only 2 kilometres west of WA Mining Resources’ Hunter Project, where Nothern Star Resources reported historic high-grade gold values of up to 50.65g/t Au from epithermal quartz veins.

During helicopter reconnaissance of the Hunter West area, KRR identified numerous east-west trending quartz breccias with minor adularia, with several of them having associated malachite and oxidised sulphides.

While no significant gold values were returned, the assay results were encouraging and consisted of copper (up to 2.3% Cu), antimony (up to 286ppm Sb) and silver (up to 39.5ppm Ag).

The Company has planned further reconnaissance work in the area.

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How is KRR’s gold exploration progressing?

KRR is advancing gold exploration in its Mt Remarkable and Tennant Creek project areas. At Mt Remarkable, the Company is undertaking reconnaissance with a further 301 rock chip grab samples collected, for which assays are pending.

Meanwhile, the Tennant Creek exploration focus covers ground magnetic and gravity surveys immediately east of Tennant Creek and reconnaissance exploration at Rover East and Kurundi.

The Company has planned airborne magnetics and VTEM Surveys planned for the Barkly East project tenements with the best results planned to be prioritised for drilling.

KRR shares traded at AU$0.027 on 13 October 2021 (AEST: 2:56 PM).

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