Killi Resources (ASX: KLI) has executed an Option to Purchase Agreement relating to two copper-gold projects within the highly prospective Appalachian volcanic belt in Canada.
The two projects are located within the New Brunswick and Quebec jurisdictions of Canada covering >3,000ha. Rich deposits for copper, base metals and gold are in the region, despite no systematic modern exploration occurring.
The recent acquisition of the Green Bay copper-gold mine, by Firefly Metals signals renewed activity in this highly prospective region.
These types of systems present significant opportunity for a new Tier-1 mineral discovery.
“These projects present an exciting opportunity for the company located in a mineral belt which is host to some of the largest copper, gold and base metal resources in the region for major resource companies,” CEO Kathryn Cutler said.
“The projects are in an underexplored region with a high potential for a new discovery. Previous explorers have not used modern techniques and have never explored for porphyry systems, but there is renewed interest in recent months and we are undertaking further due diligence to assess the prospectivity of these projects.
“The jurisdiction is extremely positive for explorers and miners, the geology is exceptional, and we believe this is an excellent deal for Killi shareholders.
“We will take our learnings from our Mt Rawdon West Project, where we have recently identified two new exciting copper-gold targets. These Canadian projects could present a strategic fit for the Company, complementing the existing portfolio of assets and our exploration strategy”.
Bigfoot and Yeti Projects
The Bigfoot and Yeti Projects are prospective for porphyry copper and gold systems, however very little exploration has considered this style of mineralisation, providing an opportunity for Killi to use existing exploration information and data and look through a different lens for opportunity. With both projects located within the Devonian sediments and intrusives, host to the Gaspe porphyry copper mine.