Kali Metals Expands Pilbara Gold Project

THE BOURSE WHISPERER: Kali Metals (ASX: KM1) has expanded the tenement landholding at the company’s Marble Bar gold project in Western Australia.

Kali Metals increased its tenure by 28.8 square kilometres by inking a binding agreement to acquire tenement E45/6389.

The company explained the new acquisition borders its existing tenure on three sides taking the total project area to approx. 96sqkm.

Of note, the new tenement lies immediately north and along strike of Kali’s previously announced 9.5km long gold-in-soil anomaly where it achieved rock chip results of up to 4 grams per tonne gold.

Based on exploration it has undertaken to date, Kali is optimistic that the mineralisation trend extends into the new tenement.

“Kali is very pleased to have finalized negotiations to acquire exploration licence E45/6389,” Kali Metals managing director Paul Adams said in the company’s ASX announcement.

“With gold prices reaching record highs in April, Kali is maintaining a key focus on the gold prospectivity of its 100 per cent-owned Marble Bar Project in the Pilbara.

“This new acquisition bolsters Kali’s landholding in this highly prospective gold region, which includes the operating Warrawoona / Klondyke Gold Project.

“The strategic rationale for the acquisition is not only that our exploration team is hopeful our 9.5km gold-in-soil anomaly continues into this new tenement, but also that it makes Kali’s entire Marble Bar Project contiguous, which has obvious advantages for exploration access and efficiency.

“The company is also looking forward to releasing the results of its most extensive rock chip program conducted at our Marble Bar Project to date, which saw the team collect an impressive 299 rock chips.

“We hope to announce those assay results in the coming weeks.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE