King River Copper (ASX: KRC) has struck up to 82.7 grams per tonne gold from ongoing drilling at its Mt Remarkable project, while reporting its vanadium concept study into unlocking the vanadium potential at its Speewah project was advancing.
The high-grade gold was from three drill sections that hit a gold zone at the eastern end of the Trudi vein.
Better results from the program were 3m at 41.75g/t gold, including 1m at 81.5g/t gold; 4m at 39.78g/t gold, including 1m at 82.7g/t gold; and 2m at 66.5g/t gold, including 1m at 77.2g/t gold.
All mineralised intersections were close to surface with depths ranging from 13m to 31m.
Mineralisation remains open to the east and at depth and King River Copper has planned four diamond drill hole program to begin by the end of the week.
The diamond rigs will offer up further structural information on the new gold zone.
“The strategy of initial close space drilling on the Trudi vein has proven highly effective in identifying, delineating and extending high-grade gold zones and has validated King River Copper’s view that there should be potential for repeats of additional high-grade gold shoots placed along the known 1km of mineralised strike at Trudy,” King River Copper chairman Anthony Barton said.
“Evidence of some structural changes 600m east of the Trudi main area, with a zone potentially widening to 25-plus metres, is also most encouraging.”
Further exploration drilling has been planned to track the Grahame and Trudi veins, along with other vein targets across the project.
Speewah vanadium project
Over at the Speewah vanadium project in WA’s east Kimberley region, King River Copper reported it was advancing its concept study, which is addressing technical hurdles that are needed to complete a scoping study into producing a high-purity vanadium pentoxide that ranges between 99.5% and 99.9%, as well as 99% titanium dioxide and 68% iron oxide.
The study aims to boost the proposed operation to “almost twice the size” of one that was originally planned in the 2012 scoping study for the project.
Consultant CSA Global completed an initial conceptual mining study using open cut optimisation techniques on the Central deposit, while the Primero Group has produced initial flowsheets for each stage of the planned beneficiation plant.
The flowsheets aim to maximise the vanadium and titanium recoveries into a magnetite-ilmenite concentrate, while rejecting run of mine using magnetic separation.
Primero’s next steps in the study will be to develop the operating and capital cost estimates and evaluate other vanadium processing technologies and commercial options.
Mr Barton said the company’s strategy at Speewah was to implement the most “prudent commercial strategy” to produce high purity vanadium, titanium and iron products at the “lowest unit cost”.