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King River Resources Ltd V.KRR


Primary Symbol: KRCLF

King River Resources Limited is an Australia-based exploration and mining company. The Company operates through two segments: ARC High Purity Alumina (HPA), and Exploration and Evaluation. ARC HPA Project segment develops the ARC HPA process and precursor compound to produce HPA. Exploration and Evaluation segment is engaged in exploration and evaluation activities of its gold projects in Australia. The Company’s projects include Rover East Project, Tennant Creek East Project, Barkly Project, Mt Remarkable Project and Kurundi Project. The Mt Remarkable Project is located 200km southwest of Kununurra in the East Kimberley, Western Australia and covers over 2,100 square kilometers of adjacent and/or nearby granted exploration licenses. The Tennant Creek Project is located to the East, Southeast and South of the rich historic goldfields of Tennant Creek comprising gold-copper exploration leases and applications measuring some 6,000 square kilometers.


OTCPK:KRCLF - Post by User

Bullboard Posts
Post by PDMitchellon Sep 10, 2008 8:50pm
955 Views
Post# 15446764

News out -- Latest drill results look good

News out -- Latest drill results look good

Final Drill Results fromGreenwood Areaproperties

 

September 10,2008:  Kettle River Resources Ltd. has receivedthe final drill results from the company’s 2008, 14 hole diamond drill programon its wholly owned Greenwood area properties.This news release reports on results for holes KRR 08-11 at the BattleZone, and holes KRR 08-13 and 08-14 at the Stemwinder Zone.  Results for holes KRR 08-1 to 08-5,drilled at the Minnie Moore showing, were previously released (see KRR newsrelease, July 17/08).  Results forholes KRR 08-6 to 08-10 and 08-12, at the Battle Zone, were previously released(see KRR news release, August 22/08).Significant results from the 3 holes described in this release are listedbelow.

 

Hole

From

To

Interval

Au

Ag

Cu

 

meters

meters

meters

g/t

g/t

ppm or %

KRR 08-11

42.66

45.46

2.80

1.39

5.0

1256

 

90.70

92.26

1.56

80.00

8.6

105

 

100.50

100.70

0.20

9.70

10.6

2233

 

110.62

111.86

1.24

3.67

95.6

307

 

207.29

209.98

2.69

0.03

1257.8

1566

 

 

 

 

 

 

 

KRR 08-13

100.85

101.15

0.30

0.01

21.0

2.66 %

 

103.27

103.48

0.21

0.01

14.1

1.39 %

 

122.71

123.71

1.00

13.80

39.4

5.26 %

 

145.90

146.15

0.25

7.04

2.0

694

 

 

 

 

 

 

 

KRR 08-14

118.20

121.05

2.85

6.85

13.3

8130

 

 

including

0.60

12.48

27.0

12194

 

BattleZone:  Seven holes were drilled at the BattleZone during 2008, to test an area of auriferous pyrite-quartz stockwork veinletsand multiple northwest-trending and shallow northeast dipping shear zones.Drilling was from 3 set-ups, over a 420 meter northeast-southwest section acrossthe zone of mineralization.Holes KRR 08-11 and 08-12 were the southernmost holes along thissection.

 

Hole KRR 08-11 was drilledon an azimuth of 210° and a dip of–70°.  The hole intersected 6.8 meters ofhighly oxidized, nearly flat-lying shear zone, 30 meters vertically belowsurface and 60 meters northeast of the surface exposure (the old prospect shaft,where select grab samples returned results to 185 g/t Au).  Results were low from drilling throughthis shear zone in hole 08-11, to a maximum of 1.39 g/t Au, 5.0 g/t Ag and 1256ppm Cu over 2.8 meters.

 

Several other mineralizedshear zones and quartz or massive sulfide veins were intersected in hole KRR08-11, which returned elevated gold or silver values.  The best result was a 1.56 meter sampleof pyritic sharpstone conglomerate, at a depth of 90.7 meters in the drill hole,which returned 80.0 g/t Au and 8.6 g/t Ag.Due to drilling problems, hole 08-11 was terminated in a zone ofstockwork quartz veinlets at a depth of 209.98 meters.  The final sample in the drill hole, from207.29 – 209.98 meters, returned 1257.8 g/t Ag.  

 

Stemwinder:Drill holes KRR 08-13 and 08-14 targeted a series of sub-parallel northwesttrending, moderate to steeply northeast dipping gold-bearing quartz-sulfideveins which were known from historic underground work at the Stemwinder andBrooklyn mines.The Brooklyn and Stemwinder mines are located immediately north ofthe past-producing Phoenix copper-gold skarn open pit mine. TheBrooklyn mine is now partially covered by thePhoenix mine waste dumps, while the Stemwinder mine iscompletely obscured by the dumps.

 

Hole KRR 08-13 was drilled on an azimuth of220° and a dip of -45°.  It intersected several quartz-sulfideveins and breccia zones and mineralized fault zones, before intersecting a thickEocene syenite sill at a depth of 159 meters in the hole.  The sill, which occurs at the top of athick section of graphitic, tectonically brecciated chert and greenstone, isinterpreted as representing the top of the regional post-mineral Snowshoefault.    Hole 08-13intersected a series of semi-massive pyrite-chalcopyrite +/- quartz veins andbreccia veins, within Brooklynconglomerate and volcanics, in the hangingwall of the Snowshoe fault.   The upper two veins intersected bydrilling were massive pyrite-chalcopyrite veins, which in this hole returnedonly low gold values.   The twodeeper veins returned better gold values, to a maximum of 13.8 g/t Au, 39.4 g/tAg and 5.26 % Cu over 1.0 meters from one zone.

 

HoleKRR 08-14 was a steeper hole, drilled at -60°,from the same set-up and on the same azimuth as hole 08-13.  It was designed to test the veinsintersected by hole 08-13 at a deeper level, to provide information regardingthe dip of these veins, and to establish the elevation and dip of the Snowshoefault.  One mineralized zone wasintersected in the hangingwall of the fault in this hole. This zone isinterpreted as corresponding to the down dip projection of the upper 2 veins inhole 08-13.  The hole 08-14intercept returned 6.85 g/t Au, 13.3 g/t Ag and 8130 ppm Cu over 2.85meters.  The two lower veinsintersected in hole 08-13 have been taken out by the underlying Snowshoe faultzone and were not intersected by drill hole 08-14.

 

Drill core was removed fromthe property twice daily, for logging and sampling in a secure facility inGrandForks.  Sample intervals were determined bymineralization and geology, but generally ranged from 0.5 to 3.0 meters.   Core was sawn or split (dependingon rock type), with half-core samples shipped to International Plasma LaboratoryLtd. (iPL) in Richmond, B.C., for preparation and analysis by iPL’s packageP1302.   This analyticalpackage involves a 30 element ICP analysis following aqua-regia digestion, andgold analysis by fire assay/AAS finish on a 30 gram sample.  Samples returning greater than 1 g/t Auwere subsequently assayed by fire assay with a gravimetric finish.  Samples with overlimit copper valueswere also assayed.  iPL is an IS09001:2000 certified laboratory.A quality control-quality assurance program was implemented by thecompany during the drill program, including company inserted blanks andstandards at regular intervals. Additional drilling is needed to determine thestrike, dip and true width of the mineralization describedabove.

 

Linda Caron, M.Sc., P.Eng.is the Qualified Person under NI 43-101 who supervised the 2008 work program andwho has reviewed and approved the technical content of this newsrelease.

 

Contact Larry Widmer (250) 878 5099 or Ellen Clements 1-800 856 3966.

 

On Behalf of the Board,

 

“Signed”

 

Ellen Clements, Director

President &CEO

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