Kairos Minerals reports new high-grade gold results
Kairos Minerals (ASX:KAI) has provided a strong update this morning, informing shareholders that its recently completed RC drilling program at its 100% owned Pilbara Gold Project has confirmed ‘outstanding’ potential.
The fresh gold intercepts have extended the mineralisation beyond the current 486,000oz Indicated and Inferred Resource at the Mt York deposit. These results include:
- 8m at 3.79g/t from 136m including 1m at 5.53g/t from 140m (KMYC033)
- 13m at 1.45g/t from 57m including 1m at 4.12g/t from 65m (KMYC060)
- 8m at 3.44g/t from 145m including 1m at 12.70g/t from 146m (KMYC061)
- 37m at 1.30g/t from 62m including 8m at 4.77g/t from 90m and 1m at 17.02g/t from 96m (KMYC068)
- 28m at 1.15g/t from 160m including 3m at 5.23g/t from 168m (KMYC070)
- 15m at 1.15g/t from 117m including 5m at 2.50g/t from 125m and 1m at 5.86g/t from 126m (KMYC071)
- 72m at 1g/t from 3m including 18m at 1.06g/t from 18m and 16m at 2.96g/t from 49m, including: 3m at 8.54g/t from 56mand 1m at 15.93g/t from 57m (KMYC075)
The completed drilling program comprised 51 RC holes for 6,710m total, and was geared towards in-fill portions of the Mt York deposit and immediate extensions along strike.
The results indicated that mineralisation remains open along strike, with wide continuous mineralisation confirmed from the floor of the Breccia Hill East pit.
High-grade intervals found within the wider mineralised stricture support the interpreted existence of high-grade mineralised shoots within the deposit.
Encouragingly, substantial flattening of the mineralised sequence at Gossan Hill has increased the tonnes per vertical metre and has enhanced the open pit mining potential in the area.
KAI delivered an updated Indicated and Inferred Mineral Resource for the Mt York deposit in May 2018, comprising 11.3 million tonnes grading 1.34g/t gold for 486,000oz. The resource work also confirmed that Main Hill, Breccia Hill and Gossan Hill are all part of a single continuous gold mineralised system.
KAI Executive Chairman Terry Topping commented on the update, “The recent follow-up drilling program at the Pilbara Gold Project has been hugely successful, building on the landmark 643,000oz resource upgrade we delivered earlier this year and clearly showing that this project has considerable upside.
“Importantly, we have confirmed the potential for significant extensions of the 486,000oz Mt York deposit – which has now been extended to a strike length of over 3.8km.
“At the same time, we have successfully in-filled parts of the previously announced resource, and highlighted the potential for significantly high grade shoots within the wider mineralised envelope – an important development for the future economics of the project.”
However, as with all minerals explanation, success is not guaranteed. Those considering this stock should seek independent financial advice.