# KLI: Second Rig Arrives at Lodestone to Drive Resource Growth Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/kli-second-rig-arrives-at-lodestone-to-drive-resource-growth--da725d3e-bc95-494d-aa5a-f05684a8147d Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03146984 Publisher: asx Original announcement: 2026-09-30T22:43:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-09-30T23:11:19.437Z Atlas analysis updated: 2026-09-30T23:11:19.437Z - 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 Narrative sentiment: 0.40 · Bullish ## Minestarters Atlas 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 factor: acceleration of drilling program - Positive factor: arrival of second rig increases capacity - Positive factor: recent step-out success mentioned Facts used in scoring: 2 ## Classification and evidence **Resource Update** Polarity: neutral Definition: 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) ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/kli-second-rig-arrives-at-lodestone-to-drive-resource-growth--da725d3e-bc95-494d-aa5a-f05684a8147d#fact-resource-facts-0) Lodestone Iron Ore Project · iron\_ore Historical result Needs review: historical\_restatement #### 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 Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/kli-second-rig-arrives-at-lodestone-to-drive-resource-growth--da725d3e-bc95-494d-aa5a-f05684a8147d#fact-resource-facts-1) Lodestone Iron Ore Project · iron\_ore Historical result Needs review: historical\_restatement #### 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 Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: 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.