Killi has commenced a 20,000-metre reverse circulation and diamond drilling program at the Lodestone Iron Ore Project in Western Australia. The campaign is designed to expand and upgrade the existing 110Mt JORC Inferred Mineral Resource by testing a 25km-long corridor of recrystallised magnetite mineralisation.

The project targets high-purity, direct reduction-grade iron ore intended for electric arc steel furnaces. The current program will infill and extend drilling coverage across approximately 15km of the system to provide metallurgical samples for testwork and support a future economic study.

““We already know that we have a very rare and extremely valuable form of iron ore on our hands at Lodestone. By simply increasing the size of the resource, we stand to create substantial value for Killi shareholders - and that's what this drilling program aims to do.”

"We know the host geology continues for another 20km and that there is extensive mineralisation along this extension. The goal is to start bringing this into the resource. We have the product that the global steel industry wants and by growing the size of the resource, we can materially re-rate the project.”

— Nev Power, Chairman

Killi expects to report assay results progressively as the program advances, with multiple resource updates anticipated over the coming quarters. Concurrent exploration work includes a drone-based magnetic survey covering the full magnetite system, which is scheduled for completion by the end of August 2026.

Read the full announcement: Killi Starts Maiden Drilling Targeting Resource Growth