Can Killi Resources Unlock New Gold-Copper Discoveries at Mt Rawdon and West Tanami?

Exploration Progress at Mt Rawdon West

Killi Resources Limited (ASX, KLI) has reported steady advancement in its exploration activities at the Mt Rawdon West Project in Queensland. The company is focusing on two high-priority prospects, Baloo and Kaa, both of which exhibit significant copper and gold mineralisation potential. Baloo hosts a large-scale copper-gold-molybdenum soil anomaly stretching approximately 4 by 1.5 kilometres, with historical rock chip samples showing impressive grades including up to 7.2% copper and 89.9 grams per tonne silver. Meanwhile, Kaa features the historic Wonbah Hill Copper Mine and has yielded rock chip samples with gold grades as high as 238 grams per tonne and copper up to 5.4%.

During the quarter, Killi has been refining drill targets at Baloo, with site access and preparation planned for the coming months. The company is also expanding its exploration footprint with reconnaissance surface geochemical sampling at the recently identified King Louie prospect, located east and southeast of Kaa. Results from this work are anticipated in early Q3 2025, potentially opening new avenues for discovery within the Mt Rawdon project area.

West Tanami Joint Venture Accelerates

In Western Australia, exploration at the West Tanami Gold Project, operated by Gold Fields Limited under an earn-in agreement, is progressing ahead of schedule. Gold Fields has already met its initial $2 million expenditure commitment, conducting extensive geophysical surveys including a 1,600 square kilometre airborne gravity survey. Upcoming work includes a helicopter-supported soil sampling program set to commence in August 2025, with assay results expected in early 2026. This systematic approach aims to drill-test priority targets identified through integrated geophysical and geochemical data, leveraging the region’s established gold endowment exceeding 19 million ounces.

Financial and Corporate Updates

Killi Resources closed the quarter with a healthy cash balance of approximately A$1.5 million, supporting ongoing generative exploration activities. The company’s exploration expenditure for the quarter was modest at $110,000, reflecting disciplined capital management. No mining, development, or production activities were conducted during this period.

On the corporate front, the company experienced leadership changes with the resignation of Non-Executive Director Greg Miles and the appointment of Paul L’Herpiniere. CEO Kathryn Cutler commenced a leave of absence, with Brett Smith stepping in as Interim CEO. These changes come at a pivotal time as Killi prepares for drilling campaigns and further exploration milestones.

Looking Ahead

With drilling preparations underway at Baloo and ongoing exploration at King Louie and West Tanami, Killi Resources is positioning itself for a potentially transformative phase. The company’s methodical approach to exploring underexplored mineral provinces, combined with strategic partnerships and a solid financial footing, sets the stage for meaningful progress in the coming quarters.