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New target located 500m south-east of cornerstone Old Faithful deposit represents another exciting new exploration opportunity outside of the existing 873,000oz Resource
Kairos Minerals Ltd (ASX: KAI; "Kairos" or "the Company") is pleased to advise that it has identified a significant new greenfields gold target located outside the current Mineral Resource base at its 100%-owned 873,500oz Mt York Gold Project located in the Pilbara region of Western Australia.
- New high-priority target confirmed at the Steamboat prospect, located ~500m south-east of the Old Faithful deposit, with anomalous rock chip samples of up to 4.6g/t Au returned – minimal historical exploration undertaken in this area.
- Results received from only 175 of a total of 392 rock chip samples collected at Mt York during the 2021 field season.
- Drone survey and mapping completed for the Steamboat prospect, with drilling planned for the start of the 2022 field season.
- Heritage survey completed for the new target area with all approvals for drilling in place.
- Assay results received for five more holes drilled at the 873,500oz Mt York Project last year, with best new intercepts including:
- 80m @ 0.93g/t Au from 108m in KMYC183, including:
- 12m @ 2.73g/t Au from 108m, and
- 4m @ 6.16g/t Au from 108m, and
- 4m @ 2.37g/t Au from 172m, and
- 4m @ 2.12g/t Au from 184m.
Kairos' Executive Chairman, Terry Topping, said: “The discovery of an exciting new gold target outside of the current 873,500oz Mineral Resource inventory at Mt York is a great way to start the New Year. Given the proximity of the Steamboat prospect to the existing Old Faithful deposit and the strength of the surface rock chip samples and mapping, this is shaping up as a priority focus for our exploration activities at Mt York in 2022.
“The discovery of new zones with the potential to increase our resource base is an exciting development and we are looking forward to returning to this area with drilling during the 2022 field season. We have already completed an extensive drone survey and mapping for the new Steamboat prospect and heritage surveys have already been completed and approved.
“The slow turnaround of assay results remains an ongoing industry-wide frustration, and we are still awaiting assays from a significant number of holes drilled at Mt York last year. That said, we are continuing to see some very encouraging results which will be incorporated into a future resource upgrade and ongoing mining studies. We look forward to updating the market on numerous other upcoming gold and lithium exploration activities in the near future and reporting additional results from RC and aircore drilling completed last year.”
This article includes content from Kairos Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.