King River’s Kurundi Discovery Raises Stakes Amid Ongoing Drilling and Market Watch

Exploration Breakthrough at Kurundi

King River Resources Limited (ASX: KRR) has delivered a compelling update from its Tennant Creek gold-copper projects, with the December 2024 quarter highlighting significant progress at the Kurundi Project. The company’s phase 1 reverse circulation (RC) drilling program, comprising 28 holes and nearly 2,000 meters of drilling, has confirmed high-grade gold mineralisation and unveiled a new gold zone 250 meters south of the central workings.

Among the standout results is hole TTRC103, which intersected 2 meters at 10.93 grams per tonne (g/t) gold, including a remarkable 1 meter at 20.75 g/t Au, suggesting a previously unrecognised style of mineralisation along the porphyry-basalt contact. This discovery could redefine the geological understanding of the Kurundi area and open new targeting avenues.

Extending Known Mineralisation and New Targets

The drilling also extended the known high-grade zones at Kurundi Main, with hole TTRC098 returning 9 meters at 1.62 g/t Au, including 1 meter at 12.75 g/t Au, confirming the southern plunge of the mineralised structure. Other holes, such as TTRC110, intersected 2 meters at 5.11 g/t Au, reinforcing the potential along strike and at depth. These results validate the effectiveness of detailed drone magnetics and geophysical targeting employed by KRR.

Phase 2 drilling is already underway at Kurundi Main, aiming to test the new southern high-grade zone and other promising targets identified through the 2023 geophysics program. Beyond Kurundi, King River is preparing to drill new undrilled targets in 2025, including Kuiper 1 and 2 and several prospects within Rover East, which have shown significant gravity anomalies and structural promise.

Financial Position and Strategic Investments

King River Resources maintains a robust financial footing with $5.5 million in cash as of December 31, 2024, supplemented by a $10 million valuation in its 100 million shares held in Tivan Limited (ASX: TVN), subject to escrow until February 2025. The company also received the final $2.4 million payment from the sale of its Speewah Project, further bolstering its balance sheet.

Exploration expenditure for the quarter was $674,475, reflecting the company’s commitment to advancing its drilling programs. The ongoing on-market share buy-back program was extended through July 2025, although no shares were repurchased during the quarter.

Outlook and Market Implications

King River’s latest results underscore the potential for significant gold discoveries within the Tennant Creek region, an area historically known for high-grade deposits. The identification of a new mineralisation style and the extension of known zones could materially enhance the project’s resource base. As assay results from phase 2 drilling and other regional targets become available, the market will be watching closely for indications of resource upgrades or development milestones.

With a solid cash position and strategic investments, King River Resources is well-positioned to capitalize on its exploration momentum. The company’s methodical approach to geophysical targeting and follow-up drilling exemplifies a disciplined exploration strategy in a competitive gold region.