Killi Resources Limited (ASX: KLI) has received positive results from its maiden RC drill programme at the Ravenswood North Project in Queensland, where five holes were completed for 995m.
These are the first holes ever into the Au-Ag-Cu- Mo geochemical target identified by the company to an average depth of 200m.
All five holes intersected the Ravenswood granitoids (desired host rocks for gold mineralisation) and significant mineralised intersections of gold and/or silver were returned. The best results included broad zones of anomalous gold, silver, copper and lead. Holes were drilled on wide-spaced (300m) centres over a strike of 1,000m.
CEO, Kathryn Cutler, said results from the first five holes are consistent with first pass drilling results of gold deposits within the district, and likely represent proximity to a potential intrusive gold system.
Results from the VTEM processing have generated two potential intrusive targets, which are near the surface geochemical anomaly, rock chip results and recent drill assay results.
We are all very excited with the discovery of a significantly mineralised granodiorite at Rocky. It’s a fantastic result for the first holes at the Ravenswood North project,” Ms Cutler said.
“These first drill holes have not only come back with broad zones of gold, silver, copper and lead mineralisation, they are also located close to surface, and within the same rock suite as the near-by major gold deposits.
“The results of the geophysics also indicate we are in the thick of it, and only 200m from one of the major targets. Rocky is fast becoming a priority for Killi, and based on these results and the targets generated, we plan on completing a targeted drill program in coming months.”
Rocky Results
Modelling of the VTEM data collected from the VTEM survey completed in September 2022 has provided significant insight into the prospect, by the generation of what’s known as a ‘Magnetic Inversion Model’. The model generated a 3D image of the magnetic response in bedrock.
The results of the processing clearly outline two potential intrusive bodies, seen as magnetic low features (blue), surrounded by a high magnetic response (red) representing an alteration zone or halo. The two intrusive units are referred to as exploration targets, Target 1 and Target 2.
The contact zone between the high and low magnetic responses is a target area for gold mineralisation.
Future work
The results of the drilling and geophysical modelling have given the company full confidence to continue with the drill program at Rocky.
Drilling will infill between the existing five drill holes, drill test Target 1 and Target 2 from the geophysical model, and drill test the high-grade surface geochemical anomalies to the east. The drill program will recommence in coming months.
The company will continue working through the geophysical data and processing prospects with existing surface gold, copper and silver results. West Branch will be the next prospect to be evaluated, which has results of 6.18% Cu, 8.93g/t Au and 10.1g/t Ag at surface.
