Killi Resources (ASX: KLI) set a cracking pace after listing on the ASX in February 2022, and has not looked at slowing down since.
The company came to market with a four-pronged portfolio of projects in Western Australia and Queensland, two of which have received the most attention to date.
‘Since listing, we have been out on the ground, working extremely hard on our West Tanami project in Western Australia,’ Killi Resources CEO Kathryn Cutler says.
‘We have completed a heritage survey and flown 1000 square kilometres of airborne geophysical surveys,’ says Cutler. ‘We’ve had two drill rigs operating while two field crews completed surface geochemical work, including rock chips and soil sampling programs.’
This work led to the drilling of a diamond hole, partly funded to the tune of $150,000 by the Western Australia Department of Mining Industry Regulation and Safety as part of the Exploration Incentive Scheme.
Killi Resources drilled the targeted hole to determine whether the prospective stratigraphy extended to the northern end of the project, and whether the project contains the right rocks for gold mineralisation, such as those seen at the nearby Callie gold mine.
Encouragingly, the hole did pass through a large sequence of prospective-looking folded sediments with zones of quartz veining; however, preliminary observations revealed the diamond core had encountered a mafic sequence mineralised with copper – specifically pyrrhotite, chalcopyrite and pyrite.
‘We weren’t anticipating hitting mafics,’ says Cutler. ‘We expected to be dominantly in a sedimentary sequence, so finding intrusive mafics is both surprising and interesting at the same time.
‘Copper mineralisation has never been documented in the Tanami region.
‘We are very excited about it all, and the plan now is to continue exploring the system to see if there is any potential at surface for a base metal system.’
Promising results were also achieved from exploration on the company’s 100 per cent owned Ravenswood North project in Queensland.
‘We have completed three geochemical programs at the Rocky prospect at Ravenswood, the first of which identified a textbook-looking intrusive copper-gold-silver style mineralisation system at surface,’ Cutler explains.
‘Then, we completed further soil and rock chip sampling at the West Branch prospect that returned some high copper values at surface in rock chips.’
Results for surface rock chip samples at the West Branch prospect were consistent with pathfinder elements of known mineral systems in the area.
These results included the highest copper values and some of the higher gold and silver values observed at the project.
‘We now have two drill targets at Ravenswood after recently completing a third geochemical program that was testing other regional prospects,’ Cutler continues.
‘The plan is to get drilling as soon as we get approval.’