(MENAFN- ProactiveInvestors)
() is poised to start in early August its drilling program targeting the Chapman and Windsor prospects at Speewah Dome Western Australia.
This will focus on new targets and interpretations generated from recent induced polarisation (IP) surveys.
At Chapman IP results supported by previous drilling and mapping highlight new target structures running between two major north-south trending faults.
These new IP anomalies are untested by previous drilling and are at reverse circulation drillable depths.
In addition two IP targets at Windsor will also be drilled.
Highlighting the prospectivity and potential of Chapman the company’s drilling contractor has agreed that about 40% of the costs for 2000 metres of reverse circulation drilling will be satisfied by the issue of 2.5 million KRC shares.
The new drilling will be combined with 850 metres from an unused current contract.
King River had $926420 cash as at 30th June 2015 which adequately funds the upcoming exploration program.
Meet Tony Barton in Sydney or Melbourne
Managing director Anthony Barton will present at Proactive Investor's Sydney Melbourne Investor Luncheons in August.
Click here to register for the Sydney Luncheon on Tuesday 4th August or here for the Melbourne Luncheon on Wednesday 5th August.
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