Killi Resources (ASX:KLI) reports its new Rocky prospect drilling targets draws comparison to Ravenswood 8 million ounces gold deposit, located in the Charters Towers-Ravenswood district of Northern Queensland.
The company reports data from 5 drillholes has been recently evaluated, and processing of geophysics and gold results at the Rocky prospect has identified a 3km-square prospective gold mineralised intrusive, which shares similarities to the Ravenswood deposit.
In Queensland, intrusive-related gold systems (IRG) is a common style of gold mineralisation, where 12 IRG deposits located in Northern Queensland are more than 1 million ounces (Moz). Additionally, within 60km of Rocky, there are 7 IRG deposits, which combined host 28Moz of gold endowment.
Commenting on the results, Killi Resources Chief Executive Officer (CEO) Kathryn Cutler says: “We believe Rocky to be a significant new intrusive system in the Charters Towers-Ravenswood district.
Rocky draws strong comparisons to Ravenswood gold deposits, 50km down the road and only has 5 holes drilled in the system to date, so we have a huge opportunity here to discover a new gold deposit for the region. We plan to continue with our drill program at Rocky in coming weeks and look forward to informing the market of the results.”
“We plan to continue with our drill program at Rocky in coming weeks and look forward to informing the market of the results”
The company reports that drilling is planned to target specific structural ‘traps’ at Rocky, which is anticipated to commence in April at the project. The program will consist of a combination of reverse circulation (RC) and diamond drilling (DD), which will be undertaken to ensure target depth is reached and geological information is received.
Killi Resources is a gold, copper, and rare earth explorer with 4 wholly owned assets in Australia, including the Ravenswood North and Mt Rawdon West projects in Queensland and the West Tanami and Balfour projects in Western Australia. The company is particularly focused on underexplored provinces with the potential for new ‘large-A-scale’ discoveries.
Images: Killi Resources Ltd & iStock
