High-grade gold for King River in the NT

Things are heating up for ASX-listed King River Resources after unearthing high-grade gold and copper at its as yet undrilled Kurundi Project in the Tennant Creek/Davenport region of the Northern Territory. An eye-catching rock chip sample grading 16.05 grams per tonne gold and 6.4 per cent copper leads an impressive suite of results across multiple locations from two newly acquired concessions.

In total, King River holds a whopping 7,900 square kilometres across 16 tenements in the Northern Territory. According to the company, its tenure shows stratigraphic and structural similarities to the celebrated Tennant Creek and Rover gold fields.

Gold mining in the region traces back to the 1930s and over time the Tennant Creek gold fields have produced a striking 5.5 million ounces of gold. To the south lies the Rover Gold Fields wherein 2010, a 1.2 million-ounce resource was defined at the Rover 1 prospect. Today owned by ASX-listed Castile Resources, Rover 1 continues to draw attention with numerous spectacular hits including 30.4 metres grading 35.6 g/t gold and 10m at 47.97 g/t.

There is little doubt that King River’s enormous tenement package lies in the right neighbourhood. Today’s results from an 80-sample reconnaissance exploration programme from just two of the concessions are beginning to highlight the potential of the company’s landholdings.

At the Kurundi concession which hosts small scale historical gold workings, three separate zones of high-grade gold have been identified along a vein of two kilometres of strike. Other impressive results were recorded some 700m away to the north-west of the 16-gram rock chip including another going 17.25 g/t and one at 13.55 g/t some 200m in a south-easterly direction from the old workings.

Sampling of veins outside of the historical works returned gold values above 0.5 g/t, suggesting the possibility that more mineralised veins may be lurking in the vicinity. The company says an estimated 25 to 75 kilograms of gold has previously been mined at Kurundi.

More encouraging news from the sampling programme came from another concession at two locations within King River’s boundaries, Edmerringee and the Davidsons Area. This tenure hosts the same rock type as Kurundi and includes the lengthy 8km Whistle Duck-Edmirringee trend running into King River’s adjacent tenement.

Mapping and sampling at Edmirringee has identified multiple mineralised veins intermittently outcropping from under cover. Encouragingly, results as high as 2.47 g/t gold and 4.7 per cent copper were received. At the main Whistle Duck prospect gold mineralisation greater than 1 g/t over a 155m strike has been identified at this undrilled prospect.

At the northern section of the concession lies the Davidsons Area where King River has identified gold grading as high as 2.47 g/t. Intriguingly, Davidsons covers the Warramunga Formation rocks which also host the Tennant Creek and Rover gold fields.

As King River accelerates its exploration endeavours in the Northern Territory, promising signs are starting to emerge. A huge land package of high-grade gold targets in prime real estate country is starting to turn heads now and all eyes will be on King River as the rotary truth diviner starts to drill.

Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au