Killi locks on to multiple new gold-copper targets after heli-survey at Ravenswood North
Killi Resources’ Ravenswood North project is showing plenty of positive signs, with multiple new targets identified in conductors from a recent heli-borne electro-magnetic survey.
The survey has generated multiple potential porphyry style gold-copper targets, which follow major regional structures and align with existing mineralisation found on surface in prior exploration.
That has heightened Killi Resources’ (ASX:KLI) optimism that it boasts gold-copper porphyry mineralisation on its ground, with four priority targets generated at the Rocky, West Branch, Hotspur and Hawkeye prospects.
“We are all very excited by the results generated from the VTEM survey,” Killi CEO Kathryn Cutler said.
“Particularly those results at Rocky which confirm a potentially concealed system below the Au-Cu-Ag-Mo soil anomaly at surface.
“Targets have also been confirmed at the West Branch and Hotspur prospects which encourage Killi to progress exploration at these areas.
“None of these targets have been drill-tested, so we look forward to getting on the ground soon to complete this maiden drilling.”
A total of 800 line kilometres were flown over 305km2 at Ravenswood North , located in the rich gold-bearing Charters Towers region of Queensland.
The flight lines there were 400m apart, with areas of structural complexity covered with lines every 200m.
A massive 37 targets were generated which could represent conductive units under cover, mostly aligning with the regional structural understanding of the Ravenswood corridor, localised around intersecting oblique structures.
The four highest level targets are the aforementioned West Branch, Hotspur, Rocky and Hawkeye.
Both Hotspur and West Branch are associated with the contact of the Mount Douglas Formation with an east-west regional dextral-extensional fault system, and are adjacent to surface gold and/or silver mineralisation in the form of rock chip samples.
A target has also been identified to the south-east of previous drilling which followed up an IP anomaly and returned results of 6m at 0.3g/t gold, 6g/t silver and 1.3% zinc from 77m downhole.
Killi says its survey results increase the confidence in the area, suggesting more work should be undertaken to test for porphyry gold and copper.
One geophysical anomaly in the south of Ravenswood North aligns with the Rocky gold, copper, silver and molybdenum anomaly identified from geochem programs completed earlier this year.
A potentially conductive sulphide system, the Rocky anomaly covers 1.5sqkm and has two surface rock chip samples of 17.43g/t Au and 5g/t Ag, and 16.9g/t Au and 7.16g/t Ag, with no drilling into the area or nearby making it a priority target for testing in Killi’s maiden drill program.
Meanwhile, Killi has been doing some more pegging, applying for an additional 77km2 of tenure with the Queensland Mines Department to the west of Ravenswood North which, once granted, will take its holding to 657sqkm.
Existing rock chip samples have demonstrated high tenor gold and silver mineralisation of up to 49.5g/t.
Going forward Killi’s exploration team has been hard at work in the field completing soil and rock chip samples, with a total of 476 soil and 16 rock chip samples collected across Rocky, Hawkeye and West Branch.
As targets emerge the explorer is planning to mobilise a reverse circulation drill rig to begin its maiden program at Rocky.
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.