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Kali Metals (ASX:KM1) has already initiated planning for follow-up phase two drilling at the Marble Bar gold project in Western Australia, after this week receiving promising assay results from a maiden campaign.
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The maiden program tested four targets at Sherman, Churchill, Tiger and Tiger 2, which have now been highlighted for extensive follow-up.
The initial 77-hole, 1,086m, reconnaissance RC drilling program was successfully designed to confirm previous promising rock chip results, with 46 of the holes recording gold mineralised intercepts of at least one metre.
Kali’s managing director, Paul Adams, today suggested there’s strong evidence for gold mineralisation continuity with several high-grade assays, including a hit of 6.21 grams per tonne gold at 18 metres vertical depth.
“It is very encouraging that grades have largely replicated [those] from our surface sampling,” he said. “We’re particularly encouraged to see the mineralisation continue down dip… and with drilling completed on-line spacings as wide as 200 metres, we see excellent potential to grow from here.”
Kali’s follow-up program will target lateral extensions of the surface mineralisation, infill the line spacing along key sections of the trend and test for down-dip continuity of gold mineralisation along the entire strike.
Several targets have also been identified via high-resolution imagery analysis outside of the already mapped vein and will be investigated.
KM1‘s price rose by as much as +15% today, to 22.5cps.
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