Mt Remarkable has continued giving for King River Copper (ASX: KRC), with latest drill assays revealing up 354 grams per tonne gold, while the scoping study at the Speewah vanadium project is expected to wind up this month.
A diamond core hole at the Trudi main grid within Mt Remarkable intersected 6m at 60g/t gold, including two higher grade intervals of 2.8m at 108g/t gold and 0.3m at 354g/t gold.
According to King River, the gold exceeding 30g/t has been found in the main quartz adularia vein, with the highest grades unearthed where the vein is fractured of brecciated.
During July and August, King River drilled 50-holes for 3,725m with assays pending for multiple targets including or 10 reverse circulation holes drilled in the Trudi main grid.
King River plans to continue drilling throughout September and October, with the program to target the Trudi main grid to the east and west and at depth.
Speewah vanadium and fluorite studies in final days
Meanwhile, King River is progressing the scoping study for its Speewah vanadium project in WA’s east Kimberley.
CSA Global is undertaking the study and has mandated it winds up before the end of the month.
The vanadium deposit hosts a measured, indicated and inferred resource of 4.7 million tonnes at 0.30% vanadium, 2% titanium and 14.7% iron.
King River is evaluating the potential of developing an open pit operation, with the current study investigating the best method of extracting the three minerals.
“While direct leaching test work is at a very early stage, there may also be an opportunity to heap leach lump ore, or an agglomerated crude concentrate, to extract vanadium and iron and then reprocess the remaining dump material in a manner that would extract the residual ilmenite to produce titanium,” King River’s board stated.
In addition to the vanadium potential, King River is also evaluating the Windsor fluorite deposit at Speewah, which has an indicated and inferred resource of 6.7Mt at 24.6% calcium difluoride.
The fluorite scoping study is due for completion mid-to-late September.
“The board is very focussed on maximising the key strategic variables of the Speewah deposits, namely, their massive size, the outcropping flat lying geometry, the overall consistency of grades amenable to large scale mining methods and the unique tenor of the magnetite that enables the generation of a higher vanadium pentoxide grade concentrate compared to most peers,” King River added.
By late afternoon trade, King River had gained more than 3% to $0.058.