Killi’s keen to get cracking with drilling at the Rocky prospect as the scale, host rocks, geophysics, and gold results identifies a prospective gold mineralised intrusive similar to Ravenswood deposits.  

After evaluating the recently acquired geophysical data, as well as data from the initial five holes in the highly prospective Charters Towers-Ravenswood district in Northern Queensland, Killi (ASX:KLI) believes the company’s Rocky prospect is geologically comparable to Ravenswood (8Moz) and Mt Wright (1.5Moz) gold deposits.

In Queensland intrusive-related gold systems (IRG) are a common style of gold mineralisation, with 12 IRG deposits in Northern Queensland greater than 1Moz.

Within 60km of Rocky there are seven IRG deposits, which combined, host 28Moz of gold endowment.

Near to the Killi project, the Ravenswood, Mt Wright and Mt Leyshon deposits were formed during the Carboniferous to Permian age, the same time period as Rocky.

‘Huge opportunity’

A combined reverse circulation (RC) and diamond drilling program is scheduled for April/May, targeting geophysical anomalies from a recent VTEM survey.

KLI says drilling on a 300 x 300m grid spacing should be adequate for testing the granodiorite system at Rocky, based on the knowledge of nearby gold deposits.

“Rocky draws comparison to Ravenswood gold deposits 50 kilometres down the road and only has five holes drilled in the system to date, so we have a huge opportunity here to discover a new gold deposit for the region,” Killi CEO, Kathryn Cutler, said.

What’s next?

The five drill holes planned for April 2023 are specifically designed to test the centre of the interpreted intrusive unit from the geophysics, similar to Mt Wright.

Understandings from the Ravenswood, Mt Wright and My Leyshon deposits will be used to ensure drill spacing and depth are considered when exploring for an intrusive at Rocky.

As these systems may be depleted in gold mineralisation at surface, the program will complete RC drill holes from surface to 200m depth with a diamond tail from 200 to 400m through the intrusive targets.

Additional processing of the VTEM data is underway at the West Branch prospect to further define targets at the copper-gold-silver-lead prospect.

 

 

 

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.

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