King River Copper Ltd (ASX:KRC)
SP 1.6c, MC:$16.2m, SOI 1.1b
Some very good recent results on their gold project, supported by good historical data, management seem very competent and have low cash burn. The market has had a decent reaction but MC still low (I think KRC is being dwarfed by the flurry of other good news out there this last week!) and a lot of room to move from here in the coming weeks as further results flow in. See below form recent yesterdays announcement.
Background
The Mt Remarkable Project is located 200km south west of Kununurra in Western Australia, and 100% owned by KRC. KRC commenced a 1450m Reverse Circulation (“RC”) drill programme at Mt Remarkable in October 2017. This programme tested the confirmation of historical high-grade drill results, including the scissor hole that was targeting previously identified mineralisation at the Trudi Vein (Figure 1), extensions to known mineralised veins, and newly discovered veins. 680 metres of additional RC drilling has been undertaken over the last week testing other project targets and testing new outcropping vein systems. Assays are expected within the next 3 weeks.
Announcement
King River Copper Ltd (ASX:KRC) is pleased to report the balance of assays from the scissor hole at the Trudi Vein previously reported (KRC ASX announcement 10 November 2017) that intersected 6m at 37.6g/t Gold (Au), including 1m at 90.7 g/t Au. The new intersection is 11m at 27.9g/t Gold (Au) and another intersection of 3m at 5g/t Au at the top of the hole (Table 1, Figure 1).
