Killi Targets Rapid Resource Growth at Lodestone Iron Ore Project

14 July 2026 | Western Australia - Killi Resources has launched an aggressive exploration campaign aimed at rapidly expanding the resource base at its Lodestone Iron Ore Project in Western Australia’s Mid-West region.

The Lodestone Project currently hosts a 110Mt JORC Inferred Mineral Resource, with the existing resource covering only about 5km of a broader 25km-long mineralised system.

Killi is planning an initial 20,000m drilling program, including reverse circulation and diamond drilling, to extend the current resource, upgrade confidence in existing mineralisation and test parallel zones that could add further scale to the project.

The company said recent government approvals have been received for the large drilling program, with drilling contracts now being finalised and drilling expected to begin by the end of July.

At the same time, Killi’s geological team has started mapping and surface sampling to identify additional mineralised horizons and parallel zones. Geophysical contractors have also been engaged to complete a detailed drone-based magnetic survey across the full recrystallised magnetite system.

Why it matters: Lodestone is strategically located in WA’s Mid-West iron ore district, about 200km from the Port of Geraldton, with access to sealed roads, rail and grid power. The project sits between the Karara and Koolanooka iron ore mines.

Killi said Lodestone’s coarse-grained recrystallised magnetite has the potential to produce a premium, high-purity direct-reduction grade concentrate in the range of 68% to 70% iron. The company believes this could allow Lodestone to target the high-value electric arc furnace steelmaking market, where higher-quality iron ore products can attract a premium to the benchmark 62% iron price.

The current Inferred Resource is reported at 110Mt at 33% Davis Tube Recovery mass recovery, grading 69% iron in concentrate.

Chairman Nev Power said the company’s technical team had “hit the ground running”, with geologists already on site, geophysical surveys locked in and drilling contracts being finalised.

He said Killi’s goal is to establish a development pathway that takes advantage of Lodestone’s ore characteristics, strong infrastructure access and potential to produce a high-purity magnetite concentrate.

Killi said the upcoming drilling will also provide metallurgical samples and geological information for future processing and engineering studies, with the aim of delivering multiple resource updates over coming quarters.

For Western Australia’s iron ore sector, Lodestone represents an early-stage but potentially significant Mid-West magnetite growth story, with resource expansion, metallurgical test work and development studies now being advanced.

Source: Killi Resources ASX announcement, “Killi Targets Rapid Resource Growth with Aggressive Exploration Campaign”, 14 July 2026.