Killi secures $150,000 EIS grant for West Tanami deep diamond gold hunt
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Killi has been granted $150,000 in WA state government funding for its deep diamond testing for a significant gold mineralised system at West Tanami.
The funding under the Exploration Incentive Scheme will co-fund half of all direct drilling costs up to the awarded amount.
Recent desktop work completed by Killi Resources (ASX:KLI) highlighted the geological similarities of its Oracle and Raven prospects in the northern part of West Tanami to the Callie-Dead Bullock Soak deposit that fuels the Callie gold mine 150km along strike to the northwest in the Northern Territory.
“The geological understanding of the project and its potential is coming along nicely, and we are very excited the Geological Survey is on board to explore with us in the Tanami,” chief executive officer Kathryn Cutler said.
“We would like to acknowledge the West Australian government for their continued support of greenfield exploration through the Exploration Incentive Scheme.”
The West Tanami project covers 1,600sqkm and has potential for both gold and rare earths mineralisation.
Fieldwork and earthworks area are already underway while a heritage survey is scheduled for the end of May and early June.
This work will enable the company to proceed with its planned 20,000m drill program.
This article was developed in collaboration with Killi Resources, 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.