Kairos Minerals Ltd (ASX: KAI) has entered into an Option Underwriting with CPS Capital Group Pty Ltd to fully underwrite the exercise of listed options (ASX: KAIOG) (Options) which are exercisable at A$0.025 on or before 5.00pm (WST) on 31 December, 2021.
At the date of the Underwriting Agreement, there are 285,233,610 Options on issue which remain unexercised, representing an amount of A$7,130,840.
Kairos Minerals is a diversified West Australian-based exploration company which is focused on the exploration and development of two key project hubs located in WA’s premier mining districts.
The company’s 100%-owned Pilbara Gold-Project has its central “hub” located ~100km south of Port Hedland in the world-class Pilgangoora district immediately adjacent to the major lithium-tantalum projects owned by Pilbara Minerals, which is currently in production.
Since acquiring the Project in early 2016, Kairos has established a JORC Indicated 8.56Mt at 1.3 g/t for 366,000oz and Inferred 12.36Mt at 1.28 g/t for 507,000oz for a Total Mineral Resource of 20.93Mt @ 1.3g/t Au for 873,500oz.
The Project encompasses the historical Lynas Find gold project, which produced over 125,000oz of gold between 1994 and 1998. Kairos’s 100%-owned Roe Hills Project, located 120km east of Kalgoorlie in WA’s Eastern Goldfields, comprises an extensive tenement portfolio where the company’s recent exploration work has confirmed the potential for significant discoveries of high-grade gold, nickel and cobalt mineralisation. Kairos’ tenure adjoins the emerging Lake Roe gold discovery, owned by Breaker Resources.
In the Pilbara, Kairos also holds 2,026 square kilometres of tenure (granted and applications) which is highly prospective for gold and lithium-caesium-tantalum pegmatite discoveries. Kairos has been well recognised for its industry leading technical team that includes its Chairman Terry Topping (Taipan Resources NL, Cauldron Energy Ltd), Technical Director Neil Hutchison (Poseidon Nickel, Jubilee Mines) and consulting specialists.
For further information please visit: https://www.kairosminerals.com.au/
