KLI: Second Rig Arrives at Lodestone to Drive Resource Growth
Original announcement by asx on
- Company
- Killi Resources Limited
- Ticker
- KLI
- Exchange
- ASX
- Region
- Western Australia
- Primary commodity
- Iron ore
- Secondary commodities
- Gold, Copper
- Document categories
- Resource update, Other
- Extracted
- 2026-09-30 23:11:20 UTC
Analysis by Minestarters Atlas
Atlas analysis published:
Minestarters Atlas analysis
Summary
Killi Resources has commenced drilling with a second rig at the Lodestone Iron Ore Project to accelerate its 20,000m program. The program aims to expand and upgrade the existing 110Mt Inferred magnetite resource.
Reasoning: The announcement focuses on operational expansion (second rig) to support a resource growth program rather than reporting new assay results or a new resource estimate.
Positive factors
- acceleration of drilling program
- arrival of second rig increases capacity
- recent step-out success mentioned
Facts used in scoring: 2
Classification and evidence
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: The announcement discusses the intent to update the resource through an accelerated drilling program.
Evidence · text
“anticipating multiple resource updates over coming quarters”
Extracted facts
Stored fact records: 2. Some facts used in scoring do not have a stored record.
Resource Estimates (2)
inferredLodestone Iron Ore Project · iron_oreTonnes: 110000000Grade: 69Grade Unit: % Fe in concentrateHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Lodestone Iron Ore Project
- Commodity
- iron_ore
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- KLI
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- Resource group id
- resource:5c7352c328c0c915db64
Resource Data
- Category
- inferred
- Tonnes
- 110000000
- Grade
- 69
- Grade Unit
- % Fe in concentrate
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2026-06-11T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Existing resource being targeted for growth.
Evidence · text
“existing 110Mt JORC Inferred Resource (1)”
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredLodestone Iron Ore Project · iron_oreTonnes: 110000000Grade: 33Grade Unit: % DTR Mass RecoveryHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Lodestone Iron Ore Project
- Commodity
- iron_ore
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- KLI
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- Resource group id
- resource:5c7352c328c0c915db64
Resource Data
- Category
- inferred
- Tonnes
- 110000000
- Grade
- 33
- Grade Unit
- % DTR Mass Recovery
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2026-06-11T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Technical parameter of the resource.
Evidence · text
“110Mt at 33% Davis Tube Recovery (“DTR”) Mass Recovery”
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.