Killi Resources Confirms High-Grade Gold-Copper Structure at Mt Rawdon West Project
KLI (KLI) Share Update July 2024 Monday 8th
Killi Resources Confirms High-Grade Gold-Copper Structure at Mt Rawdon West
Killi Resources Limited (ASX: KLI) has announced significant high-grade gold and copper assay results from surface rock chip sampling at the Kaa target within their Mt Rawdon West Project in Queensland. This discovery marks a substantial milestone for the company, indicating the presence of a potentially lucrative epithermal gold system.
Instant Summary:
- Discovery of a new epithermal gold system at the Kaa target.
- High-grade rock chip results including 238g/t Au and 5.4% Cu.
- Mineralisation extends over a 1.8km trend, remaining open along strike.
- Ongoing exploration with surface mapping and an IP survey.
- Maiden drill program to follow the IP Survey.
Assay Results and Geological Findings
Killi Resources Limited has released promising assay results from surface rock chip sampling at the Kaa target, part of their 100% owned Mt Rawdon West Project. The assays revealed high-grade gold and copper mineralisation, with one sample returning 238g/t Au, 2.1% Cu, and 513g/t Ag. Other notable samples include:
- MRRK061: 14.3g/t Au, 2.2% Cu & 907g/t Ag
- MRRK065: 12.3g/t Au, 0.3% Cu & 60g/t Ag
- MRRK073: 5.89g/t Au, 5.4% Cu & 45.7g/t Ag
- MRRK068: 5.81g/t Au, 1.9% Cu & 211g/t Ag
- MRRK072: 6.06g/t Au, 1.5% Cu & 585g/t Ag
Exploration and Future Plans
The high-grade mineralisation extends over a 1.8km trend and remains open along strike, suggesting significant exploration potential. Current field programs include surface mapping and an Induced Polarisation (IP) survey. These efforts aim to provide a 3D geophysical model to identify potential drill targets.
Following the IP survey, Killi Resources plans to commence a maiden drill program at the Kaa prospect. This drilling will be the first ever at this location, aiming to further delineate the high-grade gold-copper structure.
Technical Insights
The Kaa prospect is at an early stage of exploration, with no drilling completed to date. Geological observations and petrology results indicate that the mineralisation may be epithermal in nature, associated with a multi-phase intrusive system. The company has conducted petrology on samples from historical workings, revealing significant sericite and silica alteration.
The discovery of high-grade gold and copper at the Mt Rawdon West Project is a positive development for Killi Resources. This could significantly enhance the company's valuation and attract investor interest. The ongoing exploration and upcoming drill program will be critical in determining the full potential of this discovery.
Investor Reaction:
CEO Kathryn Cutler expressed optimism, stating, 'It's not every day you can walk up to an outcrop and have it return ~8oz of gold in assay.' Investors and analysts have shown interest in the potential of this new epithermal system, with some highlighting the promising assay results and the extensive mineralisation trend.
Conclusion:
Investors should keep an eye on the upcoming results from the IP survey and the maiden drill program at the Kaa prospect. These developments could provide further insights into the project's potential and impact Killi Resources' stock performance. Stay tuned for more updates as the company progresses with its exploration activities.