Killi Resources Unveils New Gold Structures at Mt Rawdon West Project
KLI (KLI) Share Update July 2024 Tuesday 23rd
Killi Resources Identifies New Gold Structures at Mt Rawdon West
Killi Resources Limited (ASX: KLI) has announced the discovery of two additional gold-copper anomalies at its 100% owned Mt Rawdon West Project in Queensland. This significant find could potentially expand the project's mineralized footprint.
Instant Summary:
- Two new mineralized trends identified parallel to the main Kaa trend.
- High-grade rock chip assays with up to 238g/t Au, 5.4% Cu, and 907g/t Ag.
- Induced Polarisation (IP) survey results expected in the coming weeks.
- Maiden drill campaign to test depth extensions of high-grade surface mineralization.
Discovery of New Gold Structures
Killi Resources Limited has identified two new gold-copper anomalies parallel to the main Kaa trend at the Mt Rawdon West Project. The assays from geochemical samples have revealed significant high-grade gold structures, with rock chip assays returning up to 238g/t Au, 5.4% Cu, and 907g/t Ag.
The new trends, which are sub-parallel to the existing 1.8km mineralized trend, were identified through soil sampling. These trends increase the width and size of the epithermal gold footprint at Kaa to 900m x 1,800m, with the anomalism remaining open at the current extent of sampling.
Geochemical Findings
The geochemical samples collected at the Kaa target have revealed two additional gold trends on nearby parallel ridges. Peak results include 95ppb Au, 202ppm Cu, 350ppb Ag, 1.49ppm Bi, 7.05ppm Sb, and 2.17ppm W. The best soil results at Kaa to date include 460ppb Au, 1,595ppm Cu, and 1.43ppm Ag.
One rock chip sample (MRRK076) taken during soil sample collection returned 0.59g/t Au, 1.7% Cu, and 29.7g/t Ag. This sample was taken from a previously unrecorded old working, indicating further gold potential outside the current soil anomaly.
Future Exploration Plans
The Induced Polarisation (IP) geophysical survey has been completed, with results expected in the coming weeks. This survey will provide a 3D geophysical model down to 300m depth, potentially identifying any sulphides beneath the surface mineralization. The upcoming drill campaign, set to commence in August, will test these targets.
Further infill soil grid and rock chip sampling across the two new trends is planned, along with extending the soil grids along strike for all three trends. The results will be compiled with the IP survey data to generate robust drill targets for the first drill campaign at Kaa.
The discovery of new gold-copper anomalies at Mt Rawdon West is a significant development for Killi Resources. This could potentially increase the project's value and attract more investor interest. The upcoming drill campaign and IP survey results will be crucial in determining the extent of these new structures.
Investor Reaction:
Investors and analysts have shown optimism regarding the new discoveries. The high-grade assays and the potential for further gold outside the current anomaly have been particularly well-received. However, the final impact will depend on the results of the upcoming drill campaign and IP survey.
Conclusion:
Investors should keep a close eye on Killi Resources' upcoming drill campaign and the results of the IP survey. These developments could significantly impact the company's stock and the broader market perception of the Mt Rawdon West Project. Stay tuned for further updates as Killi Resources continues to explore and expand its mineral footprint.