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As demand for the red metal threatens to boom, Killi confirms first copper sulphide find in Australia’s famous Tanami region
Special Report: Killi Resources has for the first time confirmed a copper sulphide discovery in WA’s Tanami mineral province, turning … Read More
The…
Killi Resources has for the first time confirmed a copper sulphide discovery in WA’s Tanami mineral province, turning the conventional understanding of the gold rich region on its head.
Never a focus before for previous explorers, a diamond drill hole at the Fox prospect at Killi’s (ASX:KLI) West Tanami project has already drawn the intrigue of investors.
Killi’s share price rose this morning after chalcopyrite in the drill core was confirmed by assays to contain massive sulphides grading 4.2m at 728ppm copper, 58ppm cobalt and 0.46g/t silver from 839m.
That included a narrower interval of 0.6m at 2730ppm Cu, 114.5ppm Co and 1.23g/t Ag from 840.8m.
The discovery came within a 70m wide mafic unit from 818m-888m identified in geological logging, with a 10m zone within that of increased pyrrhotite and chalcopyrite sulphides grading from disseminated to semi to massive downhole picked up last year.
There are multiple mafic units logged downhole from 25-74m, 306-364m and 746-770m, suggesting the potential to explore for massive sulphides at shallower depths.
While millions of ounces of gold have been extracted in the Tanami, this is the first confirmed result of magmatic copper sulphide mineralisation in the district, recorded in a deep hole drilled as part of the WA Government’s Exploration Incentive Scheme.
“The discovery of a copper mineralised magmatic system in the Tanami is the first of its kind within the region,” Killi CEO Kathryn Cutler said.
“This result highlights the potential for magmatic sulphide systems at the project, which could host Ni-Cu-Co deposits.
“Magmatic units within the Tanami region are particularly underexplored, with no recorded cases of copper mineralisation currently on file, until now.
“These rocks were formed in the Proterozoic period, with multiple Ni-Cu-Co sulphide deposits in Western Australia of a similar age, such as Nova-Bollinger and Nebo-Babel. Mineral exploration at these truly remote greenfield projects leverages the company to unique opportunities, like this, which includes the discovery of a new commodity in a known province.”
The Tanami region includes Newmont’s 13Moz Callie mine, one of Australia’s five largest gold projects, and has been extensively explored for uranium and rare earths.
But the discovery of copper and base metals at Killi’s Fox could change the game, with copper and cobalt major beneficiaries of the green energy transition.
Copper and other battery base metals like nickel and cobalt are expected to see demand grow exponentially in the coming decades as electric vehicles take over roads across the world.
The latter has become the most sought after metal for global majors like BHP and Rio Tinto who are looking to future proof their businesses.
What happens now?
Killi says that based on its current understanding and research a geophysical electromagnetic or gravity survey will be the best method to generate potential sulphide targets for drill testing in the upcoming field season.
Samples will also be analysed for PGEs platinum and palladium to build a full picture of the mafic potential.
It is also planning to test gold and rare earths targets generated from soil and aircore programs in 2022.
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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