Killi Resources Unveils Promising IP Anomaly at Baloo Prospect
KLI (KLI) Share Update November 2024 Wednesday 20th
Killi Resources Identifies Significant IP Anomaly at Mt Rawdon West
Killi Resources Limited (ASX: KLI) has announced a significant discovery at its Mt Rawdon West Project in Queensland, revealing a large-scale induced polarization (IP) anomaly that suggests the presence of a potentially lucrative mineral system.
Instant Summary:
- Large-scale IP anomaly identified at Baloo Prospect.
- Potential for a new gold-copper porphyry-epithermal deposit.
- Surface reconnaissance shows stockwork veining indicative of mineral systems.
- Final IP interpretation and Kaa Prospect drilling results expected soon.
Discovery Details
Killi Resources has conducted a comprehensive geophysical survey at the Baloo Prospect, part of its Mt Rawdon West Project. The survey, which covered an area of 8.3 square kilometers, identified a large-scale, shallow IP anomaly. This anomaly is believed to represent a porphyry or intrusive system beneath a surface gold-copper-soil anomaly.
The survey results showed a consistent chargeable feature across multiple lines, indicating the presence of a sulphide-bearing unit. This strengthens the potential for a significant mineral system at Baloo, aligning with surface mapping that identified stockwork veining, a common feature in porphyry-epithermal systems.
Geophysical Survey Insights
The pole-dipole 3D IP survey used advanced technology to collect data down to a depth of 500 meters. The results revealed a broad high-chargeable anomalous zone in the central survey area, suggesting the presence of copper and gold mineralization. Several moderate chargeable anomalies were also identified, indicating major geological structures in the region.
These findings are supported by surface reconnaissance, which observed stockwork veining textures filled with chalcedony and quartz, typical indicators of proximity to a mineral system. Although initial rock chip samples did not show significant gold or copper grades, they contained elevated levels of pathfinder elements like arsenic and mercury.
Next Steps
Killi Resources plans to release the full 3D interpretation of the IP survey results in the coming weeks. This will inform the design of future exploration work, including a drill campaign. Additionally, the final drilling results from the Kaa Prospect are expected by mid-December, which could further enhance the project's potential.
The discovery of a significant IP anomaly at the Baloo Prospect could have a positive impact on Killi Resources' stock, as it suggests the potential for a new mineral discovery. If further exploration confirms the presence of a porphyry-epithermal system, it could lead to increased investor interest and confidence in the company's exploration strategy.
Investor Reaction:
Analysts are likely to view this development as a promising step forward for Killi Resources. The identification of a large-scale IP anomaly is a positive indicator of potential mineral deposits, which could enhance the company's value proposition. However, investors will be keenly awaiting the final IP interpretation and drilling results to assess the full potential.
Conclusion:
Investors should keep a close eye on Killi Resources' upcoming announcements regarding the final IP interpretation and drilling results. These developments could provide further insights into the potential of the Mt Rawdon West Project and influence investment decisions.