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KILLARA RESOURCES LTD

ASX: KRA

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Description

Killara Resources Limited (“Killara” or “the Company”) (ASX code: WCR) was incorporated on 14 July 2008 as Winchester Resources Limited and was established to explore for and develop mineral resource projects in Australia and internationally. The Company listed on the Australian Securities Exchange on 1 December 2009 following the completion of an Initial Public Offer that raised $2.0 million (before costs of the issue).

On 3 December 2010 the Company entered in to an agreement to acquire all of the issued capital of Killara Resources Pty Ltd, a company focused on mineral exploration and development in the Republic of Indonesia. Shareholders approved the acquisition and a change of name at a General Meeting held on 28 February 2011.

Killara has an 80% interest in the Belu Manganese Project located in West Timor in the Nusa Tenggara Timur Province and has access to a pipeline of Indonesian project opportunities.

The Company retains its wholly owned Ora Banda Project, which consists of three sub projects: Windanya, Orinda and Christmas Reef South. These sub projects are centred on the historical gold mining district of Ora Banda, about 65 km north-west of Kalgoorlie, and have excellent proximity to both infrastructure and mineral processing facilities. The Ora Banda Project is prospective for gold and nickel mineralisation.

BELU MANGANESE PROJECT, WEST TIMOR (80%)

The Belu Manganese Project is located approximately 35km east of Atambua, the capital of Belu Regency in West Timor, Nusa Tenggara Timur province of the Republic of Indonesia. Atambua is approximately 20km south of the port of Atapupu. The project consist of three concessions (IUP's) covering a combined area of 5,934 hectares. Two of the concessions are contiguous (Sischo Artha and Mugirato) and the third concession (Asia Traco) is located approximately 2.0km to the north.

The project is in an area of known manganese mineralisation and is predominantly underlain by rocks of the Tertiary aged Bobonaro Complex, a unit consisting of a clay matrix and blocks derived from older sequences. Known manganese mineralisation in the region is associated with the Bobonaro Complex. Rocks of the Permian aged Bisane Formation, which is dominated by dark grey shale, with siltstone, calcareous sandstone, slate and chloritised lava intercalations, occur along the eastern edge of the project area.

The area has been subjected to negligible modern exploration, with no drilling or modern geophysics completed. Two reconnaisance rock chip sampling programs have been completed in the area of the two contiguous concessions over the past year, one by the local concession holders and one by Killara. Results of these programs highlight the distribution of high grade manganese mineralisation, with results ranging up to 53.7% Mn.

Artisinal miners have in recent times been extracting high grade manganese ore from near surface deposits throughout the project area, which combined with the results of the reconnaisance rock chip sampling programs, highlights the prospectivity of the Belu Manganese Project.

ORA BANDA PROJECT, WESTERN AUSTRALIA (100%)

The Ora Banda Gold Project is located 65km north-west of Kalgoorlie in the historical gold mining district of Ora Banda. The project has excellent proximity to infrastructure and processing facilities, with most areas within the project accessed via well serviced unsealed roads and tracks.

The project is centred within the highly prospective Ora Banda domain bounded by the Bardoc Tectonic Zone to the east and the Zuleika Shear Zone to the west. Geological and structural settings at Ora Banda are conducive for the development of significant gold mineralisation as evident by the numerous gold deposits in the immediate area, including Ora Banda, Enterprise, Mt Pleasant, and Grants Patch. The Ora Banda Project is prospective for gold and nickel mineralisation.

The project consists of three sub projects: Windanya, Orinda and Christmas Reef South.

The Windanya Project is located approximately 43 kilometres north north west of Kalgoorlie. The project consists of a contiguous group of 4 granted prospecting licences P24/4028-4031 and covers an area of 6.5km˛. A 5km strike extent of the Bardoc Tectonic Zone is covered by the tenements and they are considered prospective for both gold and nickel mineralisation. There is exploration potential for gold mineralisation at a number of largely untested geochemical anomalies as well as at the Bulletin West prospect and there is considerable opportunity for nickel laterite mineralisation within the weathered ultramafic rocks in the central portion of the project.

The Orinda Project is located 60km north west of Kalgoorlie and lies approximately 5km south west of the Ora Banda mining centre. The project covers an area of 9.1km˛ and consists of a contiguous group of 5 granted prospecting licences P24/4020-4024. Gold mineralisation at the nearby Ora Banda mining centre is associated with sets of north east trending secondary faults (Black Flag and Royal Standard Faults) which cross cut the Ora Banda Sill. These north east orientated structures and extensions to the Ora Banda faults are the primary exploration targets within the project area. Exploration potential for gold mineralisation also remains along the contact between the felsic volcaniclastic sequence and the Orinda Sill gabbroic rocks.

The Christmas Reef South Project is located 70km north west of Kalgoorlie and 8km to the west north west of the Ora Banda mining centre. The project consists of a contiguous group of 5 granted prospecting licences P24/4169-4173 and covers an area of 7.6km˛. The project overlies a largely soil covered sequence of mafic rocks (Mt. Pleasant Sill, Bent Tree Basalt, Victorious Basalt and Ora Banda Sill), which host the Ora Banda and Mt Pleasant mining centres. Soil sampling has generated a number of targets that warrant follow up work, some of which are associated with a group of historical gold workings (partly excluded) that occur on an east west trending shear zone covering a strike of 1,300 metres in the north of the area. Repetitions of the Ora Banda / Mt Pleasant style of mineralisation is the primary exploration target within the soil covered prospective mafic rocks present within the project area.

Mine For

gold, nickel, uranium, manganese, coal

Location of operation(s)

Western Australia, West Timor

Address

Level 10 30 Collins St
Melbourne, Vic 3000, Australia

Phone

+61 3 9270 9126

Email

Website


Last Updated

16/03/2011

 

The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.