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Kairos Minerals (ASX: KAI) is a diversified West Australian-based exploration company focused on the exploration and development of its 100%-owned, high-quality gold and lithium projects centred around the advanced Mt York Gold Project.
Highlights
- Mt York emerges as a top-shelf WA gold project with genuine scale and ongoing growth potential
- The 26% increase in the resource stems from recent highly successful drilling campaign; ~15,000m of drilling completed in 2021
- 1,104,000 ozs Au resource increases to 1,329,000 ozs Au at 0.5 g/t Au lower cutoff
- Resource growth also reflects extension of assumed pit depth to take into account significant mineralisation excluded from previous inventory
- 20,000m drilling contract signed with Orlando Drilling; Drilling set to start within days targeting further significant resource growth
- Drilling will take place in parallel with geotechnical assessment and metallurgical test work
Kairos Managing Director, Dr Peter Turner said: “This substantial resource increase is a game-changer for Kairos on several levels.
“Mt York now has genuine scale at 1.1Moz in a tier-one location. And the results demonstrate the huge potential for further increases, with the mineralisation open in all directions and constrained only by drilling.
“Our resource optimisation work on the Main Trend outlines a single 3km-long pit constrained only by drilling at depth.
“A major 20,000m drilling program has started with the aim of continuing to grow the inventory along strike and at depth and between the current optimal pit shells.
“We will also undertake important geotechnical and metallurgical work in preparation for a pre-feasibility study”.
Mt York Resource Estimate Update
The current resource estimate was completed by Christopher Speedy of Encompass Mining Consultants using wireframes built by Kairos’s technical team and based on a 0.3 g/t Au envelope of mineralisation. The resource includes an additional 14,988m of drilling at all prospects in late 2021 by the company. The resource includes the continuous and contiguous deposits of Main Hill, The Gap, Breccia Hill and Gossan Hill that form an arcuate form with mineralisation dipping moderately to steeply to the south to south-west, herein referred to as The Main Trend (see Figure 1).
Table 1. Mineral Resource Estimate for the Mt York Gold Project using a 0.7 g/t lower cutoff. The deposits of Main Hill, The Gap, Breccia Hill and Gossan Hill are contiguous orebodies with Iron Stirrup and Old Faithful being satellite deposits 4.5km and 6.5km to the north respectively (see Figure 1).
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