King River Resources has recently conducted a high-resolution magnetic drone survey at its Mindoolah project in Western Australia, which has revealed a treasure trove of new gold targets. This survey has unveiled a series of previously unrecognised structural corridors and alteration zones, indicating a much larger, structurally controlled gold system than previously thought. The company's findings are particularly exciting as they suggest that the historical mine workings may only be the tip of the iceberg.
One of the most intriguing discoveries is a broad zone of demagnetisation west of the Le Soleil prospect, which King River interprets as a potential hydrothermal alteration system. This system is believed to be favourable for trapping gold-bearing fluids, and it sits in a complex structural corridor where multiple fault trends meet. Another target, dubbed the Excelsior Repeat Convergence, has been identified in the same structural corridor that hosts the historical Excelsior gold workings, but it has no history of mining itself. This suggests that it may represent an untested repeat of the same mineralising architecture found at Excelsior.
Two other targets, known as Neds Birthday and the Cundy Fold-Shear Interaction, are linked to extensions and complexities around the existing Cundy prospect. Geological mapping at Cundy has previously confirmed significant folding, and the new survey has now tied this to an interpreted shear structure, creating a complex structural zone considered a prime target for orogenic gold.
The survey's results have provided King River with a coherent structural framework for the first time, allowing it to look beyond the old pits and identify compelling targets that were previously invisible in lower-resolution regional magnetic data. This has led the company to launch a series of follow-up works, including an extension of the aeromagnetic survey, targeted soil sampling, and geological mapping, all scheduled to kick off in September. This will lead into a second reverse-circulation drilling campaign slated for the second half of October.
King River's exploration push at Mindoolah is being funded by methodically selling down its significant shareholding in Tivan Limited, valued at $26.55 million as at June 30. This move allows the company to keep the drill rods turning without needing to tap the market for fresh capital. With a pipeline of new targets now in hand, King River is poised to make significant discoveries at Mindoolah, potentially unlocking a much larger gold system than previously imagined.
