Kairos Minerals surges more than 13% following promising exploration results

By Trevor Hoey. Published at Feb 27, 2017, in Mining

Shares in gold explorer Kairos Minerals (ASX: KAI) surged more than 13% when the market opened on Friday morning after the company announced initial assay results from its Terra prospect at the Roe Hills project located 120 kilometres east-south-east of Kalgoorlie.

Of course it should be noted that share trading patterns should not be used as the basis for an investment as they may or may not be replicated. Those considering this stock should seek independent financial advice.

Results included grades of up to 14.6 grams per tonne gold, effectively confirming a significant new trend extending over a strike length of approximately 2 kilometres.

The new intercepts are located more than 500 metres apart and confirm strike and depth continuity of the interpreted Main Zone of mineralisation. Results are pending from an additional hole that was drilled 500 metres to the north of the prospect, indicating KAI could be a news flow driven story.

The recently completed made in drilling program at the Roe Hills project comprises 19 RC holes over a length of 3422 metres and four diamond cored holes over 695 metres.

Assay results are pending for the remainder of the holes completed at the Ginger Kiss, Talc Lake and the newly identified Lady of the Lake prospects. Initial results confirm the significant gold opportunity which occurs within the broader 40 kilometre strike length of the largely unexplored Aldiss Fault Corridor.

Promising grades from thicker gold zones located beyond historical drill intercepts can be seen below.

Commenting on the geological features identified in a relatively small first pass drilling expedition, KAI’s Managing Director, Joshua Wellisch said, “Although it is early days we are seeing all the signs of a potentially big system – intense alteration associated with large volumes of fluid movement, extensive stock-worked style quartz carbonate veining and a favourable package of mafic host rocks similar to those seen to the north at Breakers Lake Roe project”.

As can be seen below, KAI’s tenements are strategically located in close proximity to the highly prospective Aldiss fault. The group also has some high profile neighbours with Silver Lake Resources adjacent, Breaker Resources just to the north and the massive 70 million ounce Golden Mile superpit approximately 100 kilometres to the west.

tags

Gold

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

Facebook
Twitter
LinkedIn