Killi Resources Limited ASX announcement overview

Killi Resources Limited (ASX: $KLI) has executed an Option and Joint Venture Agreement with Gold Fields Limited to spend up to $13m to earn an 85% interest in the Company's West Tanami Project, located in the Kimberley region of Western Australia. Gold Fields can earn up to 85% interest in the Project by spending $13 million on exploration activities over 2 stages. The agreement validates the Company's work to date and the belief that the West Tanami Project has the potential to host a large new scale orogenic gold deposit.

Executive commentary on the joint venture agreement

We are thrilled to have a partner in Gold Fields at the West Tanami project. This partnership allows access to expertise and funding for the longer-term and will ensure the Project continues its progress in pursuit of a new orogenic gold system in the Tanami. Importantly, this $15 million valuation of the West Tanami Project represents just one of Killi's three 100% owned belt-scale copper-gold assets. Whilst the JV enables systematic exploration to continue in the Tanami, it also enables Killi to focus exploration at the Mt Rawdon West Project where the Company will continue to explore in 2024 for a new copper-gold system near Bundaberg.

Summary of the joint venture agreement and outlook

Killi Resources Limited has entered into an Option and Joint Venture Agreement with Gold Fields Limited, allowing Gold Fields to earn up to 85% interest in the West Tanami Project by spending $13 million on exploration activities over 2 stages. The agreement validates the Company's work to date and the belief that the West Tanami Project has the potential to host a large new scale orogenic gold deposit. This partnership provides access to expertise and funding for the longer-term, ensuring the Project's progress in pursuit of a new orogenic gold system in the Tanami. Killi's focus on exploring for a new copper-gold system near Bundaberg remains a key part of its corporate strategy, with the Mt Rawdon West Project being a significant area of interest for exploration in 2024.