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King River is set to increase news flow heading into the December quarter 2017.
King River Copper Ltd (ASX:KRC) has received commitments in a placement to raise $1 million from the issue of 200 million shares at $0.005.
Funds will have a dual purpose, firstly for the initial reverse circulation drilling program at the Mt Remarkable prospect.
Secondly to advance the new vanadium concept study.
Boosting the prospectivity of Mt Remarkable have been some high-grade gold rock chip samples.
King River’s first visit picked up rock chips grading 30.8g/t gold and 16.85g/t gold.
The aim of the program was to check site access conditions and to ascertain the vein mineralisation style and host rock for historically reported high grade gold, such as: 5 metres at 15.36g/t gold.
Mt Remarkable is located 80 kilometres south of Speewah in the Kimberley region.
King River has some key vanadium news flow in coming weeks, with the vanadium concept study from the Central vanadium deposit at Speewah.
The study is reviewing the potential of producing a high purity vanadium pentoxide and titanium dioxide.
Continue reading the full story here >>