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King River Resources (ASX:KRR) - Chairman, Anthony Barton
Chairman, Anthony Barton
Source: Business News
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  • King River Resources (KRR) has received high-grade gold, silver and copper results from the Kurundi Project in the Northern Territory
  • King River collected 80 rock chip samples from two new exploration licences
  • One area returned up to 17.25g/t gold, 6.4 per cent copper and 141 parts per million silver
  • Another returned multiple veins at up to 2.47g/t gold, 4.7 per cent copper and 0.16 per cent bismuth
  • The company will continue exploring the Kurundi Project and surrounding tenements to support a drilling program later in the year
  • King River’s shares are trading in the grey at 2.6 cents

King River Resources (KRR) has received rock chip sample results from its Kurundi Project in the Tennant Creek region of the Northern Territory.

The company collected 80 grab samples from two newly granted exploration licences, which have returned encouraging gold, silver and copper results.

The best results came from EL32200, which covers a part of the Kurundi Anticline and includes the main Kurundi historical workings.

Reconnaissance work of the old working uncovered a northwest-southeast trend to the vein that’s mostly obscured by shallow cover. The grab samples returned significant gold values over an interpreted two-kilometre strike.

Best results include 16.05g/t gold, 141 parts per million (ppm) silver, and 6.4 per cent copper, 13.55g/t gold, 124 ppm silver, and 0.37 per cent copper, and 17.25g/t gold and 115 ppm silver.

EL32199 covers the same rock units as those at Kurundi within the Whistle-Duck-Edmirringee trend, where historical rock chip sampling returned 5 per cent copper and 13g/t gold. This trend spans eight kilometres and sits adjacent to the company’s EL31626 to the east.

Mapping and sampling at this area identified multiple veins — three of which returned gold results grading above 0.1g/t with the highest grades being 2.47g/t gold, 4.7 per cent copper and 0.16 per cent bismuth.

King River Resources will continue reconnaissance exploration at the Kurundi Project and surrounding tenements. This work will support a drilling program planned for later in the year.

The company believes that systematic and geophysical exploration will lead to a significant gold discovery within the Tennant Creek region.

Company shares are trading in the grey at 2.6 cents at 12:19 pm AEDT.

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