King River Resources drills shallow high-grade gold at Mindoolah
First-pass drilling had a 79 percent hit rate. Intercepts averaged 41 metres depth.
King River Resources drilled its recently acquired Mindoolah gold project. It is located 70 kilometres north-west of Cue in Western Australia's Murchison region.
The company found shallow, high-grade gold. The first drilling program tested 19 holes.
It hit major mineralisation in 15 of them. Best results include 1 metre at 13.59 grams per tonne gold from just 43 metres at Bertram's prospect.
Another result was 3 metres at 4.7 grams per tonne at Le Soleil prospect from 38 metres depth. The company has $3.67 million in cash.
It plans to start phase-two drilling this month. A follow-up magnetic survey will help find more targets across the property.
- 79 percent of 19 holes
- Hit rate
- 41 metres
- Average intercept depth
Why it mattersStrong early results on a junior explorer's new acquisition could attract interest from larger operators. They could also prove the company's geological targeting model works.
AustraliaWestern Australian gold exploration is a major industry. Early success at Mindoolah could lead to new jobs and economic activity in the Murchison region.
✓ Claims checked against the source. checked 1 h ago
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