Nov 6, 2024

King River Resources Hits 9m @ 1.62g/t Au at Kurundi Main, Tennant Creek

Introduction:

King River Resources (ASX: KRR) has reported significant gold intercepts from its 2024 drilling program at the Kurundi Main prospect in the Tennant Creek region of Australia's Northern Territory, highlighted by 9m at 1.62g/t Au from 49m including 1m at 12.75g/t Au.

Drill Results:

9m @ 1.62g/t Au from 49m including 1m @ 12.75g/t Au from 53m (TTRC098)
3m @ 8.3g/t Au from 35m including 1m @ 16.25g/t Au from 36m (TTRC103)
5m @ 2.14g/t Au from 38m including 1m @ 6.39g/t Au from 40m (TTRC092)
2m @ 5.11g/t Au from 44m including 1m @ 6.33g/t Au from 45m (TTRC110)‍
2m @ 10.93g/t Au from 51m including 1m @ 20.75g/t Au from 51m (TTRC103)

Project Overview:

The Kurundi Main prospect is located within King River Resources' Tennant Creek project area in Australia's Northern Territory. The Tennant Creek Mineral Field has historically produced around 5.5 million ounces of gold, highlighting the region's potential for significant gold discoveries. The Kurundi Main prospect is part of King River Resources' broader exploration strategy in this prolific mineral district.

Program Details:

The 2024 drilling program at Kurundi Main comprised 28 RC holes totaling 1,986 meters. Drilling focused on extending previously discovered high-grade gold mineralization and testing new structural positions identified through detailed drone magnetics completed in 2023. The program targeted three main areas: northern and southern extensions of the Kurundi structure, testing the plunge of the central high-grade shoot, and exploring deeper mineralization under the central main workings.

Understanding These Results:

The reported intersections represent extensions to known mineralization at Kurundi Main. The discovery of a new high-grade gold zone 250m south of the central main workings (TTRC098) is particularly noteworthy, as it opens up a new area for exploration. The results also confirm a southerly plunge to the central main high-grade gold mineralization identified in previous drilling.

The intersection in TTRC103 (2m @ 10.93g/t Au from 51m) potentially represents a new style of mineralization on a porphyry-basalt contact, footwall to the central main mineralized zone. This requires further investigation but could have significant implications for future targeting. The presence of strong veining and shearing at depth across the strike of the central zone is encouraging for deeper drilling potential.

Management Commentary:

There was no direct management commentary in this announcement.

Next Steps & Catalysts:

A second phase of drilling has commenced to test the new southern high-grade zone and continue exploring other Kurundi Main targets. Assays are pending for drilling completed at the Kurundi Regional targets including Millers, Mick and Petas, and Tarragans.

Upcoming drilling will focus on following up the new high-grade zone in TTRC098, testing deeper beneath the central main structure, exploring down-plunge mineralization at the northern western workings, investigating the possible new footwall mineralized zone in TTRC103, and testing extensions north of the northern western workings under alluvial cover. Additional targets including Kuiper and Rover East are also planned for drilling.

Commodity Outlook:

Gold continues to maintain strong fundamentals as a safe-haven asset. The Tennant Creek region represents a premier gold mining jurisdiction in Australia with a history of high-grade deposits. The ongoing exploration success in the area highlights its continued prospectivity and potential for new discoveries.

Conclusion:

The latest results from Kurundi Main demonstrate potential to expand the known mineralization footprint and identify new high-grade zones. With multiple targets still to be tested and follow-up drilling planned, the project continues to show promise for hosting notable gold mineralization. The discovery of potentially new styles of mineralization adds further exploration potential to the project.

Sources:

KRR Drill Results Announcement

Additional Figures:

Australia

ASX

Rare Earths

Nov 11, 2024