Image Sourced ShutterStock
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • Kalia has released the results of the geochemical review taken at its Bougainville Island project.
  • Results show the potential for copper-gold porphyry deposits and epithermal gold regions.
  • Funds for full scale expiration are still waiting to be acquired.

The results of a geochemical review have been released by Kalia, revealing the “fertile nature” of its project in the Mt Tore Region, located in Papua New Guinea.

Three potential locations for porphyry copper-gold centres and one location for an epithermal gold region have been identified so far. The research was lead by Dr Steve Garwin, who said after examination the area will likely host large copper-gold porphyry deposits.

The use of radar imagery and aerial photography recognised a number of zones as being hydrothermally altered. Tests are still to be conducted and Kalia expects these zones will provide gold, silver and copper epithermal and porphyry systems.

According to the company, several clusters within its prospects sit above a magnetic high in the east. This placement makes it possible the clusters will feature mineralised cupolas.

Rock samples taken from the Mt Tore region indicate the likelihood of hydrous magmas due to the ratio of vanadium and scandium. Based on rock testing results the company believe silicon dioxide features between 55-61 per cent. These conditions make Mt Tore a possible location for copper-gold deposits. Stream sediment samples were also examined which showed catchments exceeding 50 ppb gold and 125 ppm copper as well as zinc under 150 ppm.

The Technical Director of Kalia, Peter Batten said the results of the new research have changed Kalia’s priorities on where they should focus first, including the discovery of new spots which hadn’t been identified previously. While the Managing Director of Kalia, Terry Larkan said the company currently don’t have the funds to explore as large a scale as the results show could be prosperous, however, they are working to secure funds.

Read and comment on the full announcement

KLH by the numbers
More From The Market Online
The Market Online Video

Infini soars 50% as company reveals it could’ve just made uranium history – redefining what it means to be “high grade”

Infini Resources (ASX:I88) has unveiled what it believes could be the highest ever soil sample uranium concentrations found in Newfoundland, Canada, at its

Nanocap Middle Island Resources kicks off Barkly copper-gold drill run – a potential IOCG-style NT project

Middle Island Resources has kicked off drilling at its "Barkly Super Project" in the NT –…
AI imagines a worker holding one big chunk of native copper. In real life, it doesn't look like this.

Nimy to raise $1.21M to explore ‘newsy’ WA targets

Nimy Resources Ltd plans to plug $1.21 million into exploration at three main prospects in Western…
99.95% fine tungsten isolated on white background

Almonty locks in govt agreement for tungsten oxide plant in South Korea

Almonty Industries Inc has signed an MOU with a local government body in South Korea to…