- Kaili Resources (KLR) has completed a 25 hole drilling program at the Holey Dam prospect and begun a 25 hole program at Canegrass
- Both prospects lie within the Gindalbie Gold Project which is situated 65 kilometres north of Kalgoorlie in the Yilgarn Craton region
- Work at Holey Dam focused on Areas A and E where previous drilling outlined areas of elevated gold
- Upcoming drilling at Canegrass will focus on Area B which returned between 10 and 25 parts per billion gold
- Shares in Kaili last traded for 3.6 cents on October 2018
Kaili Resources (KLR) has completed a 25 hole drilling program at the Holey Dam prospect and has begun another 25 hole program at Canegrass.
Both prospects lie within the Gindalbie Gold Project which is situated 65 kilometres north of Kalgoorlie in the Yilgarn Craton region.
Holey Dam
In 2019, vacuum drilling at the Holey Dam prospect outlined areas of elevated gold in Areas A and E.
Area A lies at the intersection of two regional structures, both of which are disrupted by Proterozoic dolerite dykes.
Area E lies on folded and faulted rocks adjacent to volcanics to the west. This area also has an elevated gold in quartz result of 0.248ppm (parts per million) gold.
This 25 hole program was completed on Areas A and E with results expected once analysed.
Canegrass
In 2019, drill testing of Area B at the Canegrass prospect returned elevated gold between 10 to 25ppb (parts per billion).
As a result, this area, along with Area F, was subject to follow-up drilling which Kaili has now begun.
Up to 1000 metres of aircore and rotary air blast drilling will be undertaken across 25 holes.
Shares in Kaili have not been trading since October 2018 and last traded for 3.6 cents each. The company has a $5.306 million market cap.