King River Resources Ltd’s 2020 gold exploration programme is commencing next month after delays caused by the COVID-19 pandemic restrictions.
King River Resources’ (KRR) exploration 2020 plan includes both of its high grade gold projects: Mount Remarkable in Western Australia, where multiple high grade gold results were returned last year and at Tennant Creek in Northern Territory where KRR is targeting high grade Iron Oxide Copper Gold deposits.
Chairman Tony Barton said at Mt Remarkable, the drilling will initially target potential high-grade extensions of the Trudi vein, where previous drilling has intersected gold mineralisation of up to 4 metres at 113 grams/tonne.
“Numerous other shallow gold targets in the general vicinity of the main Mt Remarkable area are also targeted based on anomalous surface sampling and structural mapping.”
At Tennant Creek, drilling will be targeting copper-gold mineralisation at two well defined co-incident magnetic-gravity anomalies, the first being the Lonestar target (which is ~700 metres along strike from the Emmerson Resources Mauretania deposit where 20m @ 38.5g/t Au was returned in 2019), and the other being the Commitment prospect.
“The Northern Territory government is very supportive of contemporary geophysical surveys and have offered to provide KRR 50 per cent of the cost towards a new survey that covers some prognosed extensions to the IOCG belt in the Eastern Tennant Creek area that had been receiving recent interest from the major explorers like Newcrest and Rio Tinto.”
Mt Remarkable Overview and Exploration Plans
Exploration planned, this year, for KRR’s Mt Remarkable high-grade gold project includes a 2,500m RC drill programme at the main Mount Remarkable project. In addition, reconnaissance exploration is planned for KRR’s extensive regional Mt Remarkable tenement holding.
The Mt Remarkable exploration licences cover the Whitewater Volcanics, the rock unit that hosts the high- grade gold mineralisation reported within the main Mt Remarkable Project. The company believes that further high-grade deposits are yet to be discovered along this prospective, sparsely explored trend.
Tennant Creek Overview and Exploration Plans
KRR plans to commence exploration early next month at its Treasure Creek Project in the Tennant Creek Region with a 2,000m RC drill programme to follow up on positive geophysical results from its 2019 ground magnetics and gravity surveys. The drilling will be followed by reconnaissance exploration and geophysical surveys (ground and airborne) to progress other priority targets for drilling.
The company holds 7,900km2 in 16 tenements (2 applications) in the Tennant Creek Region around the Tennant Creek, Rover and Kurundi Gold fields, covering 4 main project areas: Tennant Creek East, Tennant East/Barkley, Rover East and Kurundi.
The Tennant Creek and Rover gold fields are host to high-grade Iron Oxide Copper Gold deposits with over 5.5M ozs Au mined from Tennant Creek and a resource of 1.2M oz Au estimated in 2010 at Rover.