Killi Resources Limited (ASX: KLI) has identified new potential in its exploration for intrusive-related gold systems (IRG) in the highly prospective Charters Towers-Ravenswood district in Northern Queensland.
Evaluation of the recently acquired data, from the initial five drillholes and processing of geophysics, indicates the company’s Rocky prospect to be geologically comparable to the Ravenswood (8Moz Au) and Mt Wright (1.5Moz Au) deposits 53kms along strike.
The second half of the drill programme which is scheduled for April/May has been designed around the findings from the comparative geology.
We believe Rocky to be a significant new intrusive system in the Charters Towers/Ravenswood district,” CEO, Kathryn Cutler, said.
“Rocky draws strong comparisons to Ravenswood gold deposits 50kms down the road and only has five 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 programme at Rocky in coming weeks and look forward to informing the market of the results.”
Intrusive Gold deposits in the district
In Queensland IRG are a common style of gold mineralisation, with 12 IRG deposits in Northern Queensland greater than 1Moz’s. Within 60km of Rocky there are seven IRG deposits, which combined, host 28Moz of gold endowment.
These gold deposits all form under similar conditions and have a distinct appearance. They all exist within an intrusive complex’s, defined by geophysical and geochemical parameters, of various sizes and shapes.
Within the region many intrusive complexes were formed during specific geological event within the Permo-Carboniferous. Near to the Killi Project, Ravenswood, Mt Wright & Mt Leyshon deposits were formed during the Carboniferous to Permian age, the same time period as Rocky.
All gold camps within the region are slightly different, however once you find a gold mineralised intrusive it becomes a matter of finding the localised concentration of the gold, either within quartz veins or a mineralised intrusive.