Killi (ASX:KLI) shows early high-grade copper-gold-silver at Ravenswood North
October 4, 2022Killi Resources has confirmed 6.18 per cent copper, 8.93g/t gold and 10.1g/t silver from rock chips at its Ravenswood North project in Queensland.
Rock chip samples were taken at the West Branch prospect where the outcrop was exposed. At two outcropping locations 1.8 kilometres apart, copper mineralisation was observed at the surface and returned assays all greater than 5 per cent copper.
The lead system identified at surface revealed other highlights, including:
- 6.18% Cu, 8.93g/t Au & 10.1g/t Ag
- 5.2% Cu, 8.47g/t Au & 27.3g/t Ag
- 0.2% Cu, 17g/t Au & 2.77g/t Ag
- 32.6g/t Ag, 0.6g/t Au & 15.8% Pb
The results coincide with interpreted porphyry polymetallic mineral system, which has not been drill tested.
The Company said field programs continue to test the regional potential for intrusive-style copper-gold systems along 32kms of the prospective strike.
“These are fantastic copper results in an area with limited base metal exploration and even less copper exploration,” CEO Kathryn Cutler said.
“We are very excited to have these results so early in the exploration program at the West Branch prospect.
“The assay results indicate we may have identified a significant polymetallic porphyry system, which is exactly what we have been targeting.
“This prospect now becomes the second solid exploration target generated on the project this year.We’re all very keen to further the exploration of the project and unlock the real value of this ground.”
Further work will be completed to qualify these results in combination with the results of our recent geophysical survey, which will aid the planning of future drill programs to test the West Branch and Rocky targets.’
Two samples on either side of an alluvial channel returned values greater than 5 per cent copper and associated significant gold and silver results, RVRK009 and KRRC0002. Both samples were logged as altered mafics believed to be part of the Horse Pocket Volcanics.
The Company’s ASX share price has risen 6.9 per cent to 15.5c in early trade.
Further Exploration
Fieldwork will continue at the project, adding value to our existing targets, including field reconnaissance to ground truth the anomalies generated from the VTEM survey.
Modelling is underway on the results of the VTEM survey to further qualify the targets generated. The survey was flown in June 2022, with results received and reported on the 20th of September 2022. Thirty-seven concealed anomalies, potentially sulphide-bearing, were identified from the survey. As part of the survey review and modelling, these anomalies will be cross-checked with surface mapping and geochemical data and ranked for prospectivity of Cu-Au systems. The highest ranked targets will have plates modelled to be drill tested in future exploration campaigns.
Results remain pending for soil and rock chips at West Branch, Rocky extension and Hawkeye prospects, to be reported in the coming weeks.
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