Killi Resources has uncovered more evidence of a significant polymetallic porphyry system at its Ravenswood North project after rock chip sampling returned copper, gold, silver and lead.
Assays returned from exposed outcrop at the West Branch prospect returned results such as:
- 18% copper, 8.93 grams per tonne (g/t) gold and 10.1g/t silver
- 2% copper, 8.47g/t gold and 27.3g/t silver; and
- 6g/t silver, 0.6g/t gold and 15.8% lead
These are the highest copper values and some of the highest gold and silver values observed at the project.
This adds to the Rocky prospect where soil sampling had identified a new zone of gold mineralisation earlier this year.
Importantly for Killi Resources (ASX:KLI) the results from West Branch coincide with the interpreted porphyry polymetallic mineral system, which remains to be drill tested.
Chief executive officer Kathryn Cutler said the results were fantastic coming as they did from an area which has seen limited base metals exploration and even less copper exploration.
“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,” she added.
“We’re all very keen to further the exploration on 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.”
West Branch
West Branch was determined by interpretation of airborne regional magnetics where a potential intrusive target was determined by a magnetised/demagnetised zone.
Rock chip samples taken where outcrop was exposed at surface, on either side of an alluvial channel, returned values of more than 5% copper, 8g/t gold and 10g/t silver – an indicator that the channel is masking a system below.
With previous exploration being focused on gold, just one anomalous copper rock chip sample was returned prior to modern work by Killi.
Additionally, previous drilling appeared to have non-optimal orientation and depth to test the full potential of the intrusive mineral system.
Anomalous pathfinder results from the rock chip sampling are also consistent with those of known mineral systems in the area, such as Mt Leyshon, Mt Success, Mt Wright, Golden Valley and Welcome deposits, all of which are within 60km of Ravenswood North.
Further gold exploration
Field reconnaissance is currently underway to ground truth the 37 potentially sulphide-bearing anomalies identified from the VTEM survey.
Likewise, modelling of the VTEM results is also underway to further qualify the targets.
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 copper-gold systems.
The highest ranked targets will have plates modelled to be drill tested in future exploration campaigns.
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This article was developed in collaboration with Killi Resources (ASX:KLI), a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.