Killi Resources Limited is exploring for gold, silver and copper in the highly prospective Charters Towers-Ravenswood district, Queensland. The company announced the results from its maiden RC drill program at the Ravenswood North Project, where 5 holes were completed for 995m. These are the first holes ever into the Au-Ag-Cu- Mo geochemical target identified by the Company, to an average depth of 200m.

All five holes intersected the Ravenswood granitoids (desired host rocks for gold mineralisation) and significant mineralised intersections of gold and/or silver were returned. The best results included broad zones of anomalous gold, silver, copper and lead. Holes were drilled on wide-spaced (300m) centres over a strike of 1,000m.

Results from the first five holes are consistent with first pass drilling results of gold deposits within the district, and likely represent proximity to a potential intrusive gold system. Results from the VTEM processing have generated two potential intrusive targets, which are near the surface geochemical anomaly, rock chip results and recent drill assay results. Rocky Results: Modelling of the VTEM data collected from the VTEM survey completed in September 2022 has provided significant insight into the prospect, by the generation of what's known as a `Magnetic Inversion Model'.

The model generated a 3D image of the magnetic response in bedrock. The results of the processing clearly outline two potential intrusive bodies, seen as magnetic low features (blue), surrounded by a high magnetic response (red) representing an alteration zone or halo. The two intrusive units are referred to as exploration targets, Target 1 & Target 2. Target 1 is orientated east-west stretching 1,200m x 200m and Target 2 is oriented north-south 2,000m by 500m.

Drill hole RVRC0002 is located only 200m from Target 1 and returned the highest grades of gold mineralisation downhole, which included 1m at 4.12g/t Au from 62m and 1m at 3.22g/t Au from 105m, demonstrating a potential vector towards the source of mineralisation. The drill program was designed to drill beneath the highest surface gold anomalies at the prospect on a wide spacing, with any gold or silver mineralisation to be considered a positive result. Significant drill assays were received from veins within the granodiorite, of 2m at1.58g/t Au, 9.75g/t Ag, & 0.23% Pb from 177m (RVRC0005), 7m at 3.09g/t Ag including 1m at 2.38g/t Au, 10.2g/t Ag, & 0.28% Pb from 32m (RVRC0005), 1m at 4.12g/t Au & 1.3g/t Ag from 62m (RVRC0002), 1m at 3.22g/t Au & 2.1g/t Ag from 105m (RVRC0002).

Thin units of rhyolite (5-6m) were also intersected and returned intercepts of 5m at 6.9g/t Ag & 0.31g/t Au from 160m (RVRC0005), including 2m at 15.6g/t Ag, with the unit also returning anomalous copper and lead, from multi-element analysis. The geophysical responses were plotted with the drillholes and results and highlight additional structural targets. As the drillholes were only drilled to an average depth of 200m, the results indicate they may have intercepted the alteration zone of a potential gold system.

RVRC0005 is a clear example of this, where multiple mineralised zones were intersected downhole, with high-grade silver values returned. The geophysical model suggests the target zone is a further 100 - 200m downhole, where the drillhole was terminated at 207m due to a slow drill rate through the granodiorite In addition to the drilling and geophysical results, surface rock chip assays have been received on the eastern edge of the prospect, returning 140g/t Ag, 1.6% Cu and 0.86% Sb (antimony). These results are 1.3km from the nearest drill hole, again demonstrating the potential scale of the mineralized system.

A total of four high-grade surface samples have been received from this area, within the pressure shadow of the granodiorite, and provide an ideal drill target for further exploration.