Confirms Near-Surface Mineralisation And Extends Zone
Kairos Minerals Ltd (ASX: KAI) has received significant gold assays fromrecent Reverse Circulation (RC) drilling at its 100%-owned Pilbara Gold Project in Western Australia.
The drilling success atthe Old Faithful and Mt York deposits, extending the known mineralisation and identifying new gold lodes.
The RC drilling was undertaken in December 2020 and comprised 16 holes for a total of 2,130m.
Kairos completed 12 RC drill holes for a total of 1,766 metres at the Old Faithful Deposit. The drill holes were designed to extend the known mineralisation and to in-fill the existing Indicated and Inferred Resource (2.027Mt @ 1.37g/t Au for 89.4koz).
Best results included:
- 3m @ 2.07g/t Au from 102m down-hole, including 1m @ 3.72g/t Au from 102m.
- 5m @ 2.67g/t Au from 60m, including 3m @ 3.78g/t Au from 61m, and 1m @ 6.37g/t Au from 63m.
- 12m @ 1.02g/t Au from 44m, including 4m @ 2.13g/t Au from 44m.
- 12m @ 1.32g/t Au from 28m.
- 19m @ 0.71g/t Au from 124m.
The company drilled four RC holes for a total of 364 metres at the Mount York Deposit returning 4m @ 2.09g/t Au from 82m down-hole.
“We’re very encouraged by these positive results, particularly at the Old Faithful deposit where we have identified several mineralised extensions to the known gold mineralisation, as well as a potential new lode,” Executive Chairman, Terry Topping, said.
“Considering that this was a relatively limited 16-hole programme completed as the wet season was closing in, I believe we have generated and excellent return for Kairos shareholders from what was a discrete and focused programme.
“Planning is now well underway for a much larger, 20,000 metre RC drilling campaign at the Mount York Project, which is expected to commence in April. This program will continue targeting extensions to the current Resource areas, as well upgrading the existing Resources into higher-confidence categories. We’re also planning several holes to test key targets outside of the Resource areas, including Zakanaka, Iron Stirrup South, Gilt Dragon and Green Creek.
“These results will feed into initial Mining Studies for Mount York, which are now underway. Our strategy will be to continue to expand, de-risk and advance the Mt York Project, which is underpinned by a sizeable gold resource, in parallel with high-impact exploration targeting our priority intrusive-related gold prospects.”
Best results included:
- 3m @ 2.07g/t Au from 102m down-hole, including 1m @ 3.72g/t Au from 102m.
- 5m @ 2.67g/t Au from 60m, including 3m @ 3.78g/t Au from 61m, and 1m @ 6.37g/t Au from 63m.
- 12m @ 1.02g/t Au from 44m, including 4m @ 2.13g/t Au from 44m.
- 12m @ 1.32g/t Au from 28m.
- 19m @ 0.71g/t Au from 124m.
