Kaili Resources (ASX:KLR) Reports December 2024 Exploration Activities
Exploration Investment Strategy
Kaili Resources reviewed its exploration investment strategy in the last quarter, prioritising fund allocation based on financing considerations. High-risk tenements in remote areas were earmarked for disposal to reduce operational costs.
Tenement Disposals
The company surrendered four tenements at Halls Creek and Canegrass E 31/1113 in October 2024 due to high exploration costs and unpromising results. These tenements required significant resources for exploration, including helicopter support during limited seasons.
Rare Earths Exploration
Kaili Resources is focused on exploring rare earth elements (REE) and precious metals, holding 100% interests in three tenements within the Limestone Coast, South Australia. Plans are underway to seek regulatory approvals for drilling programs, aiming to capitalise on the growing demand for critical minerals.
Drilling Results
Initial drilling at Lameroo yielded encouraging TREO assay results, guiding the design of larger drilling programs. In the Holey Dam tenement, recent drilling identified significant REE concentrations, including high-value battery metals like Pr, Nd, Dy, and Tb.
Future Exploration Plans
The company plans to submit approvals for further drilling in its South Australian tenements and continues to seek new gold potential tenements to diversify its portfolio. Exploration efforts will advance pending regulatory approvals and financing.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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