Killi Resources Discovers Large Epithermal System at Mt Rawdon West
KLI (KLI) Share Update December 2024 Tuesday 3rd
Killi Resources Unveils Promising Drill Results at Mt Rawdon West
Killi Resources Limited (ASX: KLI) has announced promising results from its initial drilling campaign at the Mt Rawdon West Project in Queensland, revealing a large-scale mineralised system at the Kaa Prospect.
Instant Summary:
- First-ever drill holes at Mt Rawdon West show gold-silver-copper mineralisation over a 1.8km trend.
- Geophysics survey at Baloo identifies a large IP anomaly.
- Mineralisation confirmed over 16km², indicating a prospective porphyry-epithermal system.
- Best intercepts include 0.5m @ 9.35g/t Au, 21.1g/t Ag & 3.7% Cu.
Drilling Results
Killi Resources Limited has completed its first drill campaign at the Kaa prospect within the Mt Rawdon West Project. The initial results from six diamond drill holes indicate the presence of a significant mineralised system, with gold, silver, and copper mineralisation found in veins and shears over a 1.8km trend. The assays returned maximum values of 9.35g/t gold, 95.1g/t silver, and 3.7% copper.
The drilling campaign, which covered 1,402 meters, was designed to test IP targets beneath historical workings. All six holes intersected quartz-carbonate veining within broad zones of intense potassic, silica, and sericite alteration up to 150m wide, suggesting significant hydrothermal fluid movement indicative of an epithermal copper-gold system.
Geophysical Insights
In addition to the drilling results, a geophysics survey at the Baloo prospect, located 2.8km southwest of Kaa, identified a large IP anomaly below a copper-gold anomaly in soils. This finding supports the potential of a large sulphide body at Baloo, further enhancing the prospectivity of the region.
The mineralisation observed at Kaa and Baloo forms part of a highly prospective porphyry-epithermal volcanic system, covering an area of 16km². The results suggest that Kaa and Baloo are integral components of a larger mineral system, with work ongoing to develop 2025 drill targets and fully understand the district's potential.
The discovery of a large epithermal system at Mt Rawdon West is a significant development for Killi Resources. The presence of high-grade mineralisation over a substantial area could enhance the company's valuation and attract investor interest. The potential for a new copper-gold system at Baloo further underscores the project's strategic importance.
Investor Reaction:
Analysts are likely to view these results positively, given the scale and grade of the mineralisation discovered. The continuity of the mineralised structure and the identification of new targets at Baloo could bolster investor confidence in Killi Resources' exploration strategy.
Conclusion:
Investors should keep a close eye on Killi Resources as it continues to explore the full potential of the Mt Rawdon West Project. The company's ongoing efforts to refine drill targets and expand its understanding of the mineral system could yield further positive developments.