
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...
11 August
Joe Cavatoni: Can Gold Rise in H2? 3 Key Factors I'm Watching
Joe Cavatoni, senior market strategist, Americas, at the World Gold Council, shares key takeaways from the organization's latest quarterly Gold Demand Trends report. He highlights the yellow metal's resilience at the US$4,000 per ounce level in the face of various price headwinds. Cavatoni also... Keep Reading...
10 August
Barrick, Newmont Settle Nevada Dispute in US$1.95 Billion Deal
Gold giants Barrick Mining (TSX:ABX,NYSE:B) and Newmont (NYSE:NEM,ASX:NEM) agreed to a US$1.95 billion truce on Monday (August 10), resolving a months-long dispute between the top gold miners that threatened to derail Barrick's planned North American spin-off.Under the settlement, Newmont... Keep Reading...
07 August
Fed’s Hawkish Hold Splits Metals: Gold Gains, Silver Falls
The US Federal Reserve’s decision to hold interest rates steady while signaling a clear bias toward future hikes has propelled gold to new highs while exposing silver’s macroeconomic vulnerabilities.Following the Federal Open Market Committee (FMOC) meeting on July 29, the central bank... Keep Reading...
07 August
Pinnacle Closes First Tranche of Private Placement
Pinnacle Silver and Gold Corp. (" Pinnacle " or the “ Company ") is pleased to announce that it has closed a first tranche of the non-brokered private placement announced on July 13, 2026 (the “Offering”) for gross proceeds of $652,080. The first tranche consisted of 5,928,000 units (the... Keep Reading...
06 August
Top 5 Australian Mining Stocks This Week: Vertex Minerals Shines on Gold Mine Update
Welcome to the Investing News Network's weekly round-up of the top-performing mining stocks on the ASX.Companies focused on gold, copper and rare earths landed in the top five this week, with gold miner Vertex Minerals taking the top spot.Read on to discover this week's top gaining Australian... 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






