King River Resources Unveils Promising Assay Results from Tennant Creek Gold-Copper Projects
KRR (KRR) Share Update October 2024 Monday 21st
King River Resources Reports Promising Assay Results from Tennant Creek Projects
King River Resources Ltd (ASX: KRR) has announced encouraging assay results from its recent drilling activities at the Tennant Creek Gold-Copper Projects, highlighting significant geochemical anomalies and promising mineralization.
Instant Summary:
- First batch of assay results received from Langrenus and Commitment prospects.
- Significant geochemical anomalies found, including gold, copper, and silver.
- Ongoing drilling at Kurundi Project with assays pending.
- Strong structural targets identified along mineralized trends.
Exploration Update
During the quarter ended 30 September 2024, King River Resources Ltd focused its efforts on the Tennant Creek Gold-Copper Projects, receiving the first batch of assay results from drilling at the Langrenus and Commitment prospects. The drilling is part of a $2 million budget aimed at exploring Iron Oxide Copper-Gold (IOCG) targets.
The Langrenus prospect, situated within the Mauretania-Hopeful Star trend, returned significant geochemical anomalies, including up to 0.2g/t Au, 0.79% Cu, and 34g/t Ag. These results are associated with a broad quartz hematite structure, indicating potential for substantial mineralization.
Kurundi and Providence Prospects
At the Kurundi Project, drilling is ongoing with assays pending. Previous drilling in 2022 revealed high-grade gold intersections, and current efforts aim to expand on these findings. Meanwhile, the Providence prospect's second phase of drilling yielded anomalous gold and copper values, further strengthening the project's potential.
King River Resources is also preparing for additional drilling phases across other project areas, including Rover East and Barkly, as part of its comprehensive exploration strategy.
The promising assay results from the Tennant Creek projects are likely to boost investor confidence in King River Resources. The identification of significant geochemical anomalies suggests potential for future resource development, which could positively impact the company's stock price. However, the market will be watching closely for further results and developments.
Investor Reaction:
Analysts are likely to view the assay results positively, given the potential for significant mineralization. The market may respond favorably, but investors will be cautious until more comprehensive data is available from ongoing drilling activities.
Conclusion:
Investors should keep an eye on King River Resources as it continues its exploration activities at Tennant Creek. The promising assay results indicate potential for future growth, but further results will be crucial in determining the project's viability.