King River Resources Reports Strong Gold Intercepts at Mindoolah Project

Maiden drill campaign delivers 79 per cent hit rate with shallow, high-grade mineralisation

By LineZotpaper
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King River Resources has announced promising results from its first reverse-circulation drilling program at the recently acquired Mindoolah gold project in Western Australia’s Murchison region. Fifteen of the 19 holes intersected significant gold mineralisation, delivering a 79 per cent hit rate at an average depth of just 41 metres.

King River Resources has made a strong start at the Mindoolah gold project in Western Australia’s Murchison province, with its maiden reverse-circulation program yielding an impressive 79 per cent hit rate. Of the 19 holes drilled, 15 intersected significant mineralisation at an average depth of 41 metres.

The campaign tested targets defined by a recent surface sampling blitz, which had returned high-grade rock chips including 44.3 grams per tonne (g/t) and 22.6 g/t gold.

Top intercepts include 1 metre at 13.59 g/t gold from 43 metres at the Bertram’s prospect, and a 3-metre section grading 4.7 g/t gold from 38 metres at Le Soleil, which includes a 1-metre interval of 10.7 g/t gold. A hole at Le Soleil was forced to an early stop at 42 metres due to swelling clays while still in mineralisation.

Managing director Graham Gadsby said the results strongly validate the geological model. “What makes these results particularly compelling is just how shallow this mineralisation is across the project,” he said.

Further results from Bertram’s included a 12-metre section assaying 1.1 g/t gold from 35 metres, featuring a higher-grade 1-metre core of 5.41 g/t gold, and 4 metres at 1.62 g/t gold from 24 metres including a 1-metre slice of 4.85 g/t gold.

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Analysis

Why This Matters

  • The high hit rate and shallow depths suggest Mindoolah could host a low-cost, open-pittable gold deposit, potentially adding significant value to King River Resources.
  • The results validate the company’s exploration strategy and may attract partner or off-take interest.
  • They add to activity in the Murchison gold district, which has seen renewed exploration.

Background

King River Resources is an Australian explorer that recently acquired the Mindoolah project. The maiden drill program followed a surface sampling blitz that identified high-grade gold occurrences. The project is located about 70 kilometres north-west of Cue in the Murchison region, an area with historic gold mining.

Key Perspectives

King River Resources: The company views the results as exceptional validation of its geological model and plans further exploration. Investors and analysts: The intercepts are encouraging but the project is at an early stage; a resource estimate and economic studies are needed to determine viability. Skeptics: The drilling is limited to 19 holes; proof of a commercially viable deposit requires demonstration of scale and continuity.

What to Watch

  • Results from the next phase of drilling, which will test for extensions and help define the resource.
  • Any announcement of a preliminary resource estimate or scoping study.
  • Market reaction in King River’s share price as exploration milestones are reported.

Sources

Zotpaper

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