An Australian copper producer has been granted two new exploration licences, as the company progresses towards an aggressive progression program for 2018.
King River Copper, listed on the ASX, has announced this week that it has been granted two exploration licences in the Tennant Creek copper-gold belt of the Northern Territory, Australia.
The new licences are part of a 12-licence application, which will cover an area of 6,634 square kilometres. The remaining licence tenements are currently pending.
The news comes as part of a wider 2018 exploration programme, with the company also announcing that drilling had commenced at its Mt Remarkable gold discovery.
The program will see a number of holes drilled over the next six weeks.
The King River Copper tenements that have been identified contain one of the worlds largest undeveloped titanium, and vanadium in magnetite deposits, with Measured, Indicated and Inferred Resources totalling around 4.7 billion tonnes.
King River aims to drill test these locations as well as systematically explore up to 50 to 100 kilometres of unexplored vein systems in the next exploration season.