Killi’s Kaa Discovery Signals Potential New Copper-Gold Frontier Amid Exploration Challenges

Exploration Breakthrough at Kaa Prospect

Killi Resources Limited (ASX: KLI) has delivered a significant update in its December 2024 quarterly report, spotlighting the maiden drill campaign at the Kaa gold-copper prospect within its Mt Rawdon West Project in Queensland. The initial six diamond drill holes, spanning 1,402 metres, have confirmed a large-scale mineralised system extending over a 1.8-kilometre strike. This discovery is underscored by high-grade surface rock chip samples, including an exceptional 238 grams per tonne (g/t) gold, 2.1% copper, and 513 g/t silver from a gossanous outcrop, marking Kaa as a highly prospective porphyry-epithermal system.

The drill results reinforce the surface findings, with assays revealing significant gold, copper, and silver mineralisation. Highlights include 0.5 metres at 9.35 g/t gold, 21.1 g/t silver, and 0.7% copper, and 0.5 metres at 0.24 g/t gold, 40.8 g/t silver, and 3.7% copper. These intersections, associated with shear zones and sulphide-bearing quartz veins, suggest robust hydrothermal fluid movement and potential proximity to a major epithermal copper-gold system.

Baloo Target: A New Frontier for Copper-Gold Exploration

Complementing the Kaa findings, Killi completed a 3D Induced Polarisation (IP) survey at the Baloo prospect, also within the Mt Rawdon West Project. The survey identified a substantial chargeable anomaly beneath a 2.5-kilometre copper-gold-molybdenum soil anomaly, interpreted as a blind intrusive system. This anomaly aligns with geological structures favourable for intrusion-style copper-gold deposits, enhancing Baloo’s profile as a priority exploration target.

Rock chip sampling at Baloo has returned encouraging results, with multiple samples exceeding 250 parts per million (ppm) copper and some gold values above 50 parts per billion (ppb). The peak soil gold value of 1,760 ppb sits centrally within the geophysical anomaly, reinforcing the potential for a significant mineral system concealed beneath surface cover.

Strategic Positioning and Financial Health

Killi Resources maintains a solid financial footing with $2.03 million in cash at the end of December 2024, ensuring the company is well-funded to advance its exploration programs. The December quarter saw exploration expenditure of $871,000, primarily directed at the Mt Rawdon West drill campaign and geophysical surveys. The company’s strategic focus remains on unlocking the potential of the Kaa and Baloo targets, with further mapping, soil sampling, and drill planning underway for 2025.

In Western Australia, Killi’s West Tanami Project, operated under a joint venture with Gold Fields Limited, saw the completion of an airborne gravity survey covering 1,600 square kilometres. This project, situated in a prolific gold province, complements Killi’s Queensland assets and broadens its exploration portfolio.

Looking Ahead: Exploration Pipeline and Market Implications

Looking forward, Killi Resources plans to release detailed results from the Baloo IP survey in the first quarter of 2025. The company will also undertake further surface geochemistry and mapping to refine exploration targets and prepare for drilling campaigns aimed at testing the identified anomalies. The early success at Kaa, combined with the promising geophysical and geochemical signatures at Baloo, positions Killi as a compelling junior explorer with potential for a new copper-gold discovery in Queensland.

With a disciplined approach to exploration and a healthy cash buffer, Killi Resources is poised to build on its recent successes. Investors and analysts will be watching closely as the company advances its understanding of these mineral systems and moves towards unlocking value from its substantial tenement holdings.