KAI’s Pilbara portfolio confirmed as highly prospective for conglomerate-hosted gold mineralisation
Diversified explorer, Kairos Minerals (ASX: KAI), has today announced that an initial field assessment of its expansive Pilbara lithium-gold tenement portfolio in Western Australia has both confirmed and enhanced its prospectivity for Paleo-Placer “Witwatersrand-style” conglomerate-hosted gold mineralisation.
The target stratigraphy is considered to be the same as that which hosts the recently reported gold discoveries announced by Novo Resources (TSX-V: NVO) at its joint venture project with Artemis Resources (ASX: ARV) in the western Pilbara region.
KAI holds 1,158 square kilometres of tenure in this region, which has recently seen a considerable increase in exploration activity as a result of the Novo/Artemis discovery.
The recent field assessment, alongside results from a review of available geological information for KAI’s tenements, has highlighted the presence of at least 100 strike kilometres of prospective lower Fortescue Group rocks, including both the base of the Hardey Formation and the basal sequence of the Mount Roe Basalt.
No recorded detailed sampling for gold has been undertaken along these horizons within KAI’s tenements, although significant alluvial gold nugget occurrences are reported in the historical record in close proximity at several locations including Croydon, Friendly Creek and Marble Bar.
Following its acquisition and detailed review of the Mt York Gold-Lithium Project last year, KAI has targeted key areas of the west, central and east Pilbara district, primarily for lithium and gold potential.
It is still early stages however and investors should seek professional financial advice if considering this stock for their portfolio.
As mentioned earlier, the Novo/Artemis discoveries, including a significant quantity of gold nuggets found at surface, are associated with a regionally extensive geological formation known as the Fortescue Group of rocks, including the lower Hardey Formation and the Mount Roe Basalt.
Importantly, the presence of these sequences has now been verified extensively throughout KAI’s tenements. These new discoveries have resulted in a significant pegging rush in the area, with Novo and other companies acquiring tenements which secure the Fortescue Group formation across the broader Pilbara region.
As a result of recent peer company activity in the Pilbara region, and approaches by third parties seeking potential farm-in joint venture arrangements, KAI has decided to fast-track a geological review of its tenements to assess the potential for conglomerate-hosted gold mineralisation.
Further field evaluation, including quad bike and/or helicopter-assisted stream sediment and rock chip sampling programs, is set to commence within the coming weeks.
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