Perth-based explorer Killi Resources (ASX:KLI) has begun the first round of exploration at its Mt Rawdon West Project near Bundaberg in Queensland.
The company, which has a $3.82 million market capitalisation, reports exploration will focus on the area of intersection of the main mineralised corridors at the Wonbah and Baloo prospects in the centre of the tenement.
Fieldwork will include ground-truthing the location of existing historical mines from historical mining reports, along with collecting about 200 surface soil samples covering an area in the centre of the tenement.
Rock chip samples will also be collected from areas of interest determined during the exploration program. Killi expects the geochemical program will be completed in early August, with results expected in mid-September 2023.
Commenting on the exploration program, Killi Resources Chief Executive Officer (CEO) Kathryn Cutler says: “The Mt Rawdon West Project was granted to the company in early 2022, and since then, the team has been busy working up the exploration strategy in the background, generating a robust database, reconciling historical reports, and establishing access with our landholders and stakeholders. All while continuing our exploration programs in the Tanami and Townsville.
“The project is highly prospective for porphyry gold-copper systems”
The project is highly prospective for porphyry gold-copper systems, with an existing gold system 10km along strike, old mines and shafts located on the project, and a significantly complex geophysical signature, the project ranks highly in our priorities.
There are no drillholes on the project to date, and we look forward to working up our targets and putting the first drillholes on the project later this year.
The exploration strategy for the company has been to work through Killi’s belt-scale project portfolio, generating targets and testing them by the most effective means possible in search of a new mineral discovery.
We could not be more excited to be out completing the first round of exploration on the project in over a decade and look forward to reporting to the market our findings in the coming months.”
Mt Rawdon West consists of a singular strategic 309km-square tenement that covers intersecting mineralised structures hosting the 1.8 million ounce Mt Rawdon Gold mine, owned and operated by Evolution Mining (ASX:EVN), and the Mt Perry copper-gold mineral field, owned by SolGold (LON:SOLG).
Killi says the district has a ‘rich’ mining history with ‘significant’ gold, copper, and molybdenum mines close to, and on, the project.
Killi Resources is a gold, copper, and rare earth element (REE) explorer with a suite of wholly owned assets in Western Australia and Queensland. The company’s portfolio includes the Mt Rawdon West and Ravenswood North projects in Queensland, along with the West Tanami and Balfour Project in Western Australia.
As of 30 June 2023, Killi had $1.778 million cash and cash equivalents at hand, according to its latest quarterly report published on 28 July 2023.
Write to Harry Mulholland at Mining.com.au
Images: Killi Resources Ltd