Kairos Minerals

Strong Start To Gold And Lithium Drilling, Highly Promising Results From Drilling Outside 1.1Moz Gold Resource

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
The Conversation (0)
Kairos Minerals

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...
Gold nuggets with text: "5 Top Australian Mining Stocks This Week."

Top 5 Australian Mining Stocks This Week: BPM Minerals Gains 111 Percent

Welcome to the Investing News Network's weekly round-up of the top-performing mining stocks on the ASX.This week's top five gainers includes companies focused on gold, antimony, lithium and more.Read on to discover this week's top gaining Australian mining stocks on the ASX and what drove their... Keep Reading...
World map on red background featuring stock market graphs and numeric data overlays.

Frank Giustra: US Debt, Midterm Elections and Shifting Global Order Highlight Gold and Copper

The US midterm elections may have reshaped the political landscape in Washington, but they are unlikely to change what mining investor and Fiore Group CEO Frank Giustra sees as the country's biggest economic problem: an unsustainable debt burden and a growing loss of confidence in the US... Keep Reading...
Wooden blocks on a gray surface read 2026, with a blue background and a tilted block showing 7 and 6.

Aging Mines, Operational Hurdles Top EY’s 2027 Risk Ranking

The mining industry’s biggest risk for 2027 sits in its own pits, as operational complexity leads EY’s latest ranking of business risks and opportunities for mining and metals, ahead of capital, supply chains and rising costs. According to the consulting firm's recently published report, ore... Keep Reading...
Gold bar with financial graphs overlays.

Gold Price Climbs Above US$4,000 After Democrat Midterm Win

The gold price was on the rise on Wednesday (November 4), climbing above US$4,000 per ounce as the US dollar weakened following midterm elections in the country. Spot gold advanced to US$4,063, while spot silver jumped to US$52.32 per ounce by 4:55 p.m. EST. The US Dollar Index fell around 0.3... Keep Reading...
John Feneck, gold bars.

John Feneck: Gold, Silver, Midterms — Price Impact as US Votes

How will US midterm elections affect gold and silver prices? John Feneck, portfolio manager and consultant at Feneck Consulting, shares his thoughts, saying both precious metals could see further downside in the short term if Republicans lose both the House and Senate; however, the long-term... Keep Reading...
Adrian Day, gold bars.

Adrian Day: Gold Below US$4,000 — Buy Stocks Now or Wait?

Adrian Day, president of Adrian Day Asset Management, shares his thoughts on gold, saying while he's optimistic long term, the price could still fall further. "When do we jump in? You know, if I didn't own a single gold stock today, I would certainly be looking to buy (this) week. But if I've... Keep Reading...

Interactive Chart

Latest Press Releases

Related News