Killi Resources (ASX:KLI) has identified further targets for follow up exploration through a recent drilling program conducted at the Rocky prospect, within its Ravenswood North Project in Queensland, Australia.
The company is planning a follow up drill program to focus around the recent breccia zones uncovered and around the shallow gold mineralisation intersected in the first 5 reverse circulation (RC) holes.
Killi also intends to return to the field and complete an additional drilling campaign at Rocky in the coming months, which will focus on the 1km zone between holes RVCD0005 to the old workings, where the current spacing of existing drillholes is about 300m apart.
This announcement follows after the company’s recently completed diamond drilling program returned ‘significant’ gold mineralisation associated with quartz veins within a granodiorite covering an area of 1,000m by 1,500m.
Drilling at this target intersected multiple zones of highly altered, siliceous intrusive rocks downhole, which confirmed a zone of structural complexity.
Commenting on this recent results, Killi Resources Chief Executive Officer (CEO) Kathryn Cutler says: “The geology and geochemistry encountered in the drilling indicate that the intrusive target, generated from processing of the VTEM geophysical results, does represent a strong altered and structurally complex zone that is prospective for intrusion-related mineralisation.
Assays indicate the geochemistry remains favourable for an IRG system, and the degree of alteration of the rocks indicate we are potentially close to high-grade gold and silver mineralisation.
“Assays indicate the geochemistry remains favourable for an IRG system, and the degree of alteration of the rocks indicate we are potentially close to high-grade gold and silver mineralisation”
These are just the first 11 holes ever drilled into a new target, adding further evidence to the existing gold intercepts, including 10m @ 0.66g/t Au from 174m and 6m @ 0.83g/t Au from 105m. The geological picture is becoming clearer with every hole we drill.”
Killi says as the next phase of drilling is planned for Ravenswood North, the first exploration program will begin at the Mt Rawdon West Project in the coming weeks.
The project was granted in 2022 and is ‘highly prospective’ for new gold-copper mineral systems. The company will begin a reconnaissance and geochemical program shortly, alongside completing the first drill campaign on the project in Q4 2023.
Killi Resources is a gold, copper, and rare earth explorer with wholly owned assets in Western Australia and Queensland, Australia.
As of 31 March 2023, the company had $1.372 cash and cash equivalents at hand, according to its latest quarterly report published on 28 April 2023.
Write to Aaliyah Rogan at Mining.com.au
Images: Killi Resources Ltd