New gold zone at Rocky prospect has Killi Resources smiling
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Assays from the recently completed soil program at the Ravenswood North Gold Project in Queensland have uncovered two distinct gold anomalies within a 1.5km2 prospect area.
Killi Resources (ASX:KLI) has reported that the assays contain significant gold mineralisation at surface within a larger alteration system, anomalous for copper, silver, and molybdenum.
Additionally, the report says a clear >100ppb gold system has been determined, striking north-west to the southeast 1,000m in length and 700m in width.
Within the 100ppb gold anomaly there exists two >200 ppb gold anomalies, 400m and 250m in length respectively with the best result returning 680ppm gold.
Killi CEO Kathryn Cutler said these assays confirm the potential for a breccia hosted gold system within the now identified 1.5km x 1.5km zone anomalous for gold, copper, silver, and molybdenum.
“The geochemical signature mimics known deposits in the region, such as Mt Leyshon and Mt Wright,” Cutler says.
“We are looking forward to getting back out on the ground and furthering the exploration story at Rocky.”
Desktop work completed by Killi interpreted magnetic low and reverse polarised remnant magnetic features as possible intrusive/breccia pipes and magnetic destructive alteration at Rocky.
The intrusive unit was interpreted to occur within the regional northeast trending structural corridor, aligned with nearby mineralisation at Golden Valley and Mt Success, 3km to the west.
Two historical rock chip samples existed at this prospect prior to the soil program, of which one was taken by Newmont in 1987 and returned a gold result of 17.43 g/t gold and 5 g/t silver.
The other was taken by Access Australia Mining and returned a result of 16.19 g/t gold and 7.16 g/t silver.
However, despite these healthy rock chip results, the area has received limited exploration in the lead up to Killi’s recent soil program.
Further soils will now be completed to infill and delineate the controlling structures, and the grid will be extended towards the Mt Success and Golden Valley tenement boundary.
Field mapping will be completed to identify additional breccias at the prospect and across the project, and a VTEM survey is also scheduled for this area in the coming months.
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.