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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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KAI:AU
TEM | Yalgoo Update - High-Grade Iron Intercepted in Early Drilling at Remorse
Key Points
- High-grade magnetite iron intercepted in RC drilling.
- Extensive, consistent and unexplored iron targets.
- Undercover magnetic highs with similar signature show substantial additional potential.
Remorse Project
High-Grade Iron
Although assays are only available for one hole to date, the intersection of high-grade magnetite iron is an exciting development in the prospectivity of the Remorse target. Although extensive iron-rich stratigraphy was noted in all work to date, due to the surface expression, it was viewed through the geological lens of a gangue mineral associated with base metal deposit styles such as VMS. However, drilling into the fresh rock below weathered, cherty, haematite-goethite-magnetite outcrops has shown consistent medium-grained, massive, high-grade, magnetite-rich mineralisation in the sub-surface.
Figure 01: Section through initial iron mineralisation WARDH160-162
Table 01: Remorse Fe Intercepts
Figure 02: Greater Remorse Geochemical Anomaly With Designed Drillholes
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This article includes content from Tempest Minerals Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Quarterly Report for the Period Ending 30 September 2024
HIGHLIGHTS
- Aurum continued its 45,000m (CY2024) diamond drilling program at Boundiali, with results reported from Boundiali BD and BM tenements. As of 30 September 2024, it comprised 153 holes for 36,666.93m, including:
- 29 holes for 5,885.5m on BM Tenement
- 124 holes for 30,781.43m on BD Tenement
- Step-back diamond drilling on BD tenement returned wide gold hits including:
- 40m @ 1.03 g/t Au from 136m inc. 5m @ 1.70 g/t Au (DSDD0076)
- 11m @ 2.15 g/t Au from 169m inc. 4m @ 4.14 g/t Au &
- 10m @ 2.02 g/t Au from 322m inc. 2m @ 9.18 g/t Au (DSDD0062)
- Drilling at BM Target 1 (five holes for 914.5m) returned shallow, wide high-grade gold hits including:
- 11.46m @ 6.67 g/t Au from 162.54m incl. 1.46m @ 45.04 g/t Au (MBDD049)
- 45m @ 0.93 g/t Au from 78m incl. 8m @ 1.18 g/t Au from 78m & 25m @ 1.15 g/t Au from 98m (MBDD045)
- 10m @ 2.84 g/t Au from 120m incl. 8m @ 3.40 g/t Au (MBDD043)
- 6.31m @ 2.73 g/t Au from 164.69m incl. 4.31m @ 3.40 g/t Au (MBDD039).
- Diamond drilling ongoing with maiden Boundiali JORC resources on track for end of CY 2024
- Boundiali preliminary metallurgical test work delivers gold recoveries up to 99%
- MACA Interquip Mintrex (MIM) and ALS (Perth) to undertake metallurgical study activities towards Pre-Feasibility Study (PFS) level
- Renewal secured for Boundiali South (BST) exploration licence (earning 100% interest), hosting the advanced high-grade Nyangboue gold deposit. Previous drilling1 at Boundiali South returned:
- 20m @ 10.45g/t gold from 38m (BRC0004S BIS)
- 30m @ 8.30g/t gold from 39m (NDC007)
- 28m @ 4.04g/t gold from 3m and 6m @ 3.29g/t gold from 47m (BRC003)
- 9m @ 7.90g/t gold from 99m (BRC006)
- Aurum has employed its own team to conduct topographical surveys
- Construction of Boundiali central exploration camp (named Dougoujin Camp) well in progress
CORPORATE
- Aurum earned 51% project interest on the BM Joint Venture (JV) project at Boundiali, after completing more than 8,000m of diamond core drilling
- Tranche 2 of $17M Placement approved by Shareholders at a general meeting on 6 August 2024.
- Share Purchase Plan and SPP Shortfall Placement completed, raising an additional $3M.
- Aurum had $19.35M cash in bank at the end of September 2024
- Aurum divested its two Western Australian exploration projects in the quarter.
Figure 1: Aurum’s Boundiali Gold Project in Côte d’Ivoire.
Diamond drilling at Boundiali Gold Project
During the quarter, Aurum completed 75 diamond holes for a total of 19,914.84m on the Boundiali BD and BM tenements, with details summarised in the Table 1. Aurum is well on track to complete 45,000m diamond drilling at the Boundiali Gold Project for CY2024.
Table 1 Diamond holes drilled at BD and BM tenements during September 2024 quarter
During the reporting quarter, Aurum reported assay results from step-back drilling (14 holes for 4,485m) at BD Target 1 (ASX announcement 5 September 2024) with wide hits including:
- 40m @ 1.03 g/t Au from 136m inc. 5m @ 1.70 g/t Au (DSDD0076)
- 11m @ 2.15 g/t Au from 169m inc. 4m @ 4.14 g/t Au &
- 10m @ 2.02 g/t Au from 322m inc. 2m @ 9.18 g/t Au (DSDD0062)
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More High-Grade Gold Discovered in New Areas at Dynasty Gold Project
Key Highlights
- More high-grade gold discovered at Tomahawk, with an impressive trench result of 5m @ 5.0 g/t Au G 20.6 g/t Ag, including a high-grade zone of 2m @ 11.2 g/t Au and 33.0 g/t Ag. Discovered by reconnaissance soil geochemical sampling earlier this year, Tomahawk is a new exploration target that has never been drill tested.
- The latest result from Tomahawk is in addition to previously announced high- grade trench results from Iguana extensional areas including:
- 3.0m @ 21.4 g/t Au G 14.1 g/t Ag returned from Iguana south, where a new +400m high-grade gold-silver vein has been discovered. The new vein remains open along strike, is located within a 1km soil geochemical anomaly and has never been drilled.
- 1.8m @ 4.5 g/t Au G 10.6 g/t Ag returned from Iguana east, with results located at the edge of Inferred Mineral Resources within 1.5km long soil geochemical anomaly, in an area that has never been drilled.
- Iguana trench results were returned from areas outside the Dynasty Mineral Resource, in areas which have never been drilled, representing strong resource growth targets.
- These trench results validate the prospectivity of multiple new targets which exhibit high grade gold in rock chips coincident with soil geochemical anomalies and mapped veins. New significant gold-silver trench results from Tomahawk and Iguana provide “proof of concept” over these new exploration and resource extensional targets.
- A large campaign of surface trenching is being expedited over new exploration and resource extensional targets, with a steady flow of results expected over the coming weeks.
- Dynasty mineralisation footprint confirmed to be much larger than the 5.5km x 1km area which contains the 3.1Moz gold and 22Moz silver Mineral Resource. Reconnaissance work and latest results have confirmed mineralisation footprint to be Gkm x 2km, providing significant scope for resource growth from surface.
- Up to 10,000m of drilling is set to test lateral and depth resource extensions along with testing multiple new exploration targets at Dynasty, as the Company works toward a resource update planned for mid-2025.
Titan’s CEO Melanie Leighton commented:
“It’s exciting that our exploration efforts are being rewarded with high-grade gold results fromtrench in several of our newly identified exploration targets at the Dynasty Gold Project. This latest result of 5m @ 5.0 g/t Au returned from Tomahawk, along with the recent result of 3m @ 21.4 g/t Au at Iguana south has proven the fertility of Dynasty over a Skm x 2km area. We now know that the mineral system encompasses a much larger area than the current 3.1Moz gold & 22Moz silver Mineral Resource.
“The revelation of a much larger mineral system bodes extremely well for us, feeding into our Dynasty resource growth strategy. We are expediting the development of further trenches over priority target areas, with a view to test many of these exploration targets in the upcoming ~ 10,000m drilling campaign.
“We look forward to delivering a steady flow of trench results over new targets in the coming weeks, and more excitingly we also look forward to delivering results from resource and exploration drilling programs over the coming months, as we work towards a Dynasty resource update in mid-2025”
Figure 1. Dynasty Gold Project displaying Mineral Resources, soil geochemistry (arsenic), exploration and resource extensional targets, significant rock chips (Au), significant trench results (Au) and planned trenches over exploration targets.
Figure 2. Dynasty Gold Project displaying Mineral Resources, soil geochemistry (copper), copper targets, significant rock chips (Cu), significant trench results (Cu) and planned trenches over exploration targets.
Dynasty Activities Update
Titan Minerals Limited (Titan or the Company) (ASX:TTM) is pleased to provide an update on the Company’s 100% held Dynasty Gold Project (Dynasty) in southern Ecuador, where it has been conducting extensive exploration in underexplored areas outside the currently defined 3.1 Moz gold and 22 Moz silver Mineral Resource.
Reconnaissance exploration along the Dynasty epithermal system has successfully expanded the gold-silver mineralisation footprint along the entire 9-kilometre corridor, with the mineral system substantially expanded to an area of 9km by 2km, an area much larger than the Mineral Resource area which covers ~ 5.5km x 1km.
Along with the expanded mineralisation footprint, several new exploration and resource extensional gold and copper targets have been highlighted by recent work. Multiple new veins exhibiting high-grade gold have been confirmed from surface by mapping, rock chip sampling and most recently trenching. Importantly, the new veins are in areas never previously explored or drilled and are coincident with large-scale geochemical anomalies.
The Company has been undertaking trenching over new priority targets with the latest results returning significant intersections of high-grade gold-silver and base metals from surface at the new Tomahawk target.
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This article includes content from Titan Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Quarterly Report for the Period Ending 30 September 2024
HIGHLIGHTS
EXPLORATION ACTIVITIES
LEINSTER SOUTH PROJECT
- Maiden field campaign at Leinster South returns numerous high grade gold assays from rock chips (up to 20.2g/t Au) at the new Siberian Tiger prospect. There is no previous drilling at Siberian Tiger.
- UAV (drone) magnetic survey, detailed orthophotography and LiDAR survey completed over Siberian Tiger and the majority of tenement E36/1068.
- Geological mapping and geochemical sampling expand the gold mineralisation footprint at Siberian Tiger and continue to generate new regional gold prospects.
- Additional tenement applications increase Metal Hawk’s landholding to over 430km2.
- Heritage Agreement executed, approvals progressing towards maiden RC program.
BEREHAVEN PROJECT
- Gold assays returned from RC drilling completed in June 2024 at the Commodore North gold zone.
- Significant results include:
- 6m @ 1.58g/t Au from 40m (BVNC066)
- 2m @ 2.51g/t Au from 105m (BVNC067)
- 3m @ 1.41g/t Au from 92m (BVNC069)
CORPORATE
- End of quarter cash position of $1.7 million.
- The Company is looking at divesting a number of non-core assets and tenements.
Managing Director Will Belbin commented: “The early exploration success at Siberian Tiger puts Metal Hawk in an excellent position heading into the December quarter and beyond. At Leinster South we have a big package of ground surrounded by world class gold deposits and it is quite incredible that there has been virtually no historical gold exploration at Siberian Tiger. We are very excited to push towards a maiden drilling program as soon as possible.”
Figure 1. Metal Hawk’s main goldfields project locations
DECEMBER QUARTER 2024 – PLANNED ACTIVITY
The Company will be focusing the majority of exploration efforts towards the maiden drill program at the Leinster South project, with planned activities in the lead-up including:
- Geochemical sampling (rock chips and soils).
- Detailed structural mapping and interpretation.
- Targeting and preparations for drilling.
- Processing and interpretation of detailed geophysical data, aerial photography/imagery and LiDAR data.
- Scheduled heritage clearance surveys.
COMPANY PROJECTS – WESTERN AUSTRALIA
LEINSTER SOUTH PROJECT
The Leinster South project area covers more than 430km2 and is situated between 10km and 40km south of Leinster. Limited historical exploration has been conducted on the tenements.
Field reconnaissance mapping and rock chip sampling commenced in late June 2024. The majority of work focused on tenement E36/1068, which is located along the southeastern limb of the Agnew Greenstone Belt and only 15km from the Lawlers mining centre. The initial field trip included follow-up of a highly anomalous geochemical gold anomaly (482ppb Au) from historical wide-spaced soil sampling at the northern portion of this tenement.
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This article includes content from Metal Hawk Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.