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Kali Metals expands Pilbara gold presence with new Marble Bar tenement acquisition

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By Colin Hay - 
Kali Metals ASX KM1 Marble Bar Pilbara gold acquisition
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Kali Metals (ASX: KM1) has reinforced its decision to focus on the Marble Bar gold project in Western Australia by further expanding its tenement landholding at the Pilbara asset.

After receiving promising gold results at Marble Bar in January, Kali announced the project would become its primary focus for gold exploration, with lithium remaining an important secondary focus.

Now it has expanded the total project area to approximately 96 square kilometres after entering into a binding agreement to acquire permit E45/6389, which abuts the company’s existing tenure on three sides.

Gold-in-soil anomaly

The new tenement is located immediately north and along strike of Kali’s previously announced 9.5km-long gold-in-soil anomaly, where the company unearthed rock chip results of up to 4.0 grams per tonne of gold.

“With gold prices reaching record highs in April, Kali is maintaining a key focus on the gold prospectivity of its 100%-owned Marble Bar project in the Pilbara,” managing director Paul Adams said.

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

Kali’s exploration team is hopeful the existing anomaly continues into this new tenement, making the entire Marble Bar project contiguous and improving the project’s exploration access and efficiency.

Two key prospects

While Kali has only mapped 10% of the trend, it has already identified two key prospects at Tiger and Sherman that demonstrate gold mineralisation at surface.

The company has been accelerating its exploration activities at Marble Bar since the start of the year and is now awaiting results from a new field program where it collected 299 rock chips on its existing tenements.

Pursuant to the updated terms of an earn-in agreement with SQM, Kali now holds a 100% interest in the Marble Bar tenements, which are located 200km south-east of Port Hedland and 1,300km north-north-east of Perth.