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Kairos release positive Roe Hills drilling results
3 minute read
Kairos Minerals (ASX:KAI) announced on Monday that it had intersected a significant new zone of high-grade gold mineralisation at its Roe Hills Project, located 120 kilometres east-south-east of Kalgoorlie in Western Australia’s Eastern Goldfields.
Significant high grade primary gold mineralisation has been intersected in maiden reconnaissance drilling at a newly identified prospect located only 350 metres from another prominent deposit.
Of course KAI is still in its early stages so investors should seek professional financial advice if considering this stock for their portfolio.
Assay results included 6 metres grading 3.6 grams per tonne gold from 102 metres and 2 metres grading 29.1 grams per tonne gold from 120 metres. Of note is the fact that wide spaced drilling was completed along a single section, circa 250 metres in width with the mineralisation remaining open in all directions.
Assay results are pending for the balance of the recently completed 2800 metre gold focused drilling program at Roe Hills where a number of high priority gold targets have been investigated.
Geological data suggests Lingering Kiss is an extension of French Kiss
The new prospect, named Lingering Kiss, is located just 350 metres south of the French Kiss Gold Deposit owned by Silver Lake Resources (ASX: SLR), which hosts a published Indicated and Inferred Resource of nearly 2 million tonnes grading 1.89 grams per tonne gold for 118,490 ounces. SLR plans to bring this into production in fiscal 2019.
The Lingering Kiss Prospect is a highly ranked structural target identified from detailed airborne magnetic and ground gravity survey data. It is situated proximal to an east-west trending Proterozoic Dolerite Dyke, at the confluence of the interpreted north-south trending French Kiss Shear Zone and a major regionally recognisable north-east trending structure now described as the ‘Crossbow Fault’.
These latest results tend to demonstrate the extensive gold endowment within the project, which as well as being in close proximity to the French Kiss deposit, is also located just south of Breaker Resources’ (ASX: BRB) emerging Lake Roe/Bombora discovery.
Hence, this can now be considered a highly prospective area, and Lingering Kiss represents an important new addition to the growing pipeline of strongly mineralised zones recently identified by KAI at Roe Hills, all of which offer excellent potential for the near term definition of significant gold resources.
Drill results speak for themselves
Three wide-spaced reconnaissance Reverse Circulation drill holes completed at Lingering Kiss as part of the Company’s recent gold-focused drilling program at Roe Hills all intersected multiple zones of significant primary gold mineralisation including very high grade intervals (more than one ounce per tonne gold) within broader low-grade mineralised envelopes across a single section approximately 250 metres wide.
Given the broad lateral extent and quality of the mineralisation, which returned assays grading up to 43.34 grams per tonne gold, its proximity to the French Kiss Gold Deposit, the favourable geological setting and the fact that the mineralisation remains open in all directions, the result is a significant development at Roe Hills.
Commenting on these developments, KAI’s Managing Director, Joshua Wellisch said, “Coming up with strong primary mineralisation of significant grade over multiple stacked lodes is a very exciting development and provides an immediate focus for our team as a near-term resource development opportunity”.
Wellisch also highlighted the fact that the Roe Hills project has had little exploration activity despite having widespread mineral endowment. Given these results and the outstanding progress made by Breaker Resources in the same region, Wellisch is eagerly awaiting the balance of results which should assist in shaping the next phase of exploration.
On this note, he highlighted the fact that KAI controls a continuous 40 kilometre strike length of the same prospective package which hosts Breaker Resources’ discovery to the north, with the company now aiming to home in on areas that will provide the best chance of making a world-class discovery.
With news such as this in the pipeline, it would appear that KAI’s share price could be in for a sustained rerating as further assay results come to hand.