
October 25, 2022
Large drilling programs ongoing for lithium and gold
Kairos Minerals Ltd (ASX: KAI) Managing Director, Dr Peter Turner said: “We are moving quickly to continue growing the 1.1Moz Resource at Mt York, with drilling now underway and the mineralisation open in every direction. We are also ramping up lithium exploration with drilling at Lucky Sump and other activity at Roe Hills and Croydon, where we have lithium soil anomalies of considerable scale and tenor”.
Mt York Project, Pilbara
- Mt York Gold Project mineral resource estimate grew by 26% to 1,104,000 oz Au (0.7 g/t Au cutoff); Resource increases to 1,329,000 oz Au at a 0.5 g/t Au lower cut-off
- Initial mining and pit optimisation work indicates a single, 3,000m long pit shell at Main Trend that bottoms-out on drilling
- Technical team focussed on further, significant resource growth at Mt York with step-out drilling programme underway
- Spodumene-bearing pegmatite samples grading up to 1.91% Li2O discovered at Lucky Sump Prospect
- 5m of pegmatite intersected in hole KMYC216 under Lucky Sump lithium prospect – mineralogical and assay results pending
- Exploration Camp under construction
Croydon Project, Pilbara
- Major lithium and gold anomalies identified
Roe Hills Project, WA Goldfields
- Black Cat lithium anomaly, 10km south of Manna Li-Ta resource, cleared for drilling
Cash
- Strong cash position of $5.8m at 30 September 2022
Mt YORK GOLD PROJECT, PILBARA (KAI: 100%)
A technical review completed early in the quarter concluded that the Mt York Gold Project is a large gold system that is very much under-drilled. The mineralisation is currently 3,000m in length (Main Trend), is continuous and open in all directions (particualry below the current pit shells) making the deposit a valuable asset for Kairos. The review found the deposit was constrained only by drilling within the individual deposits and at depth, not by geological or mineralisation factors meaning that its resource potential (tonnes and grade) will only be known once more drilling is completed.
The review also found several subtle plunges of high-grade shoots which were either plunging shallowly to the east, or steeply to the east.
Structural and lithological mapping by CSA Global’s Dr Peter Neumayr was undertaken during the quarter to try to answer questions on the reasons for the likely plunge orientations in determining the best targets for future drilling. The CSA Global report is awaited.
The technical review was announced to the market on 4 July 2022 and was led by Kairos’s newly appointed MD Dr Peter Turner (appointment date of 23 May 2022) who has over 27 years of reviewing gold projects worldwide.
On 30 August 2022, Kairos announced a new JORC-compliant Mineral Resource Estimate totalling 28.01 MT @ 1.23 g/t Au for 1,104,000 ounces (comprising Indicated Resources of 13.93 Mt at 1.3 g/t for 581,000oz and Inferred Resources of 14.08 Mt at 1.15 g/t for 523,000oz) from a previous resource estimated in 2020 of 20.9Mt at 1.30g/t Au for 873,500 ounces (comprising Indicated Resources of 8.5Mt at 1.33g/t for 366,000oz and Inferred Resources of 12.3Mt at 1.28g/t for 507,500oz). The new mineral resource estimate represents a 26% increase in contained gold at about the same grade. The technical team are targeting further increases to the resource with the drilling that is currently underway.
Click here for the full ASX Release
This article includes content from Kairos 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.
KAI:AU
Alert Options
No alert set
INN Article Notification
Alert Option
You will be notified when this event occurs. No additional settings needed.
The Conversation (0)
14 February 2022
Kairos Minerals
Developing Highly Prospective Gold Projects in a World-Class Gold District
Developing Highly Prospective Gold Projects in a World-Class Gold District Keep Reading...
23 October
Editor's Picks: Gold Price Slips Below US$4,000, Expert Says US$3,600 Could be Next
It was a week of downward momentum for gold, which tumbled from above US$4,100 per ounce to below US$4,000 by the end of the period. Silver took a hit as well, sinking from close to US$58 per ounce to below US$54. Those prices represent important levels for both metals. Investors tend to focus... Keep Reading...
23 October
Russia’s Gold Reserves Hit Lowest Level Since 2019
Russia’s gold reserves continued to shrink in September, with the central bank holdings falling by approximately 62 metric tons since December 2025. The country’s gold holdings declined by 6.2 metric tons last month to approximately 2,264 metric tons, reaching their lowest level since 2019,... Keep Reading...
23 October
Infographic: A New US Home Now Costs Under 100 Ounces of Gold
From late 2025 through mid-2026, a median-priced new US home cost less than 100 ounces of gold in every quarter, the first time that’s happened since data collection began in 1963. The previous low came in 1980, at the end of gold’s 1970s run, when the figure bottomed out at exactly 100... Keep Reading...
23 October
Belo Sun’s Volta Grande Gold Project License Temporarily Suspended
Belo Sun Mining (TSX:BSX,OTCQB:BSXGF) is in the midst of another legal challenge at its Volta Grande gold project in Brazil, where the Supreme Court has temporarily suspended the installation license pending approval of a settlement agreement.In a Wednesday (October 21) news release, the company... Keep Reading...
22 October
Craig Tindale: Gold's New Era — Prepare Now for System Reset
Private investor and Substack newsletter writer Craig Tindale shares his thoughts on recent and potential future actions from the US Department of the Treasury, explaining their impact on the bond market, national debt and ultimately the gold sector. "I think we're heading into a very... Keep Reading...
21 October
Chris Vermeulen: Gold Price to US$3,100? "Epic" Chance to Buy Ahead
Chris Vermeulen, chief market strategist at TheTechnicalTraders.com, shares his outlook for gold and silver, saying the precious metals have entered a bear market.In his view, gold could fall as low as US$3,100 per ounce as this downtrend plays out — however, after that he expects a dramatic... Keep Reading...
Latest News
Interactive Chart
Latest Press Releases
Related News
TOP STOCKS
American Battery4.030.24
Aion Therapeutic0.10-0.01
Cybin Corp2.140.00






