King River Resources reports shallow, high-grade gold hits at Mindoolah project

King River Resources has launched its first drill campaign at the newly acquired Mindoolah gold project in the Murchison province of Western Australia, achieving a 79% success rate with 15 of 19 reverse-circulation holes intersecting gold mineralisation at an average depth of 41 m. The program confirmed high-grade quartz veins and broader mineralised halos, delivering a 1 m intercept of 13.59 g/t gold at the Bertram’s prospect and a 3 m interval grading 4.7 g/t gold at Le Soleil, including a 1 m section of 10.7 g/t before swelling clays halted drilling at 42 m. These results support the company's geological model and come amid historically strong gold prices and active M&A in Western Australia.

King River reported cash of $3.67 million as of June and recently sold part of its stake in Tivan Limited, retaining a 77-million-share holding valued at $15.6 million. A phase-two RC drill program and an aeromagnetic survey are slated to begin this month to further delineate targets. The company also highlighted a discrepancy between historic mining records and the volume of material removed, suggesting additional untapped gold may remain on site.