King River Resources starts its biggest-ever gold drilling program
King River is drilling 11,082 metres across eight targets at its Mindoolah gold project.
King River Resources has started its largest drilling program yet at its Mindoolah gold project. The gold project sits in Western Australia's Murchison region, 70 kilometres north-west of Cue.
The plan covers 11,082 metres of drilling across eight priority targets. Most of the drilling will test three major targets, including Excelsior.
At Excelsior, drilling will reach up to 354 metres beneath the old open pit. Earlier drilling at Excelsior hit 4 metres grading 9.3 grams of gold per tonne from just 33 metres down.
The company says its first drilling phase confirmed shallow gold beneath the old workings. King River has $3.67 million in cash as at the end of June, after selling some of its Tivan shares.
Why it mattersIt follows up earlier high-grade gold hits and hunts for deeper gold under the old Excelsior pit.
AustraliaNo direct Australian effect yet. A big gold find would mainly matter to Western Australia's mining sector and investors.
✓ Claims checked against the source and corrected before publish. checked 1 h ago
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