Kairos Minerals

Wide Drill Intersections Highlight Scope for Significant Resource Upgrade at Mt York Gold Project in Pilbara

Latest drill results extend known mineralisation, paving way for an upgradeofthe existing 873,500ozmineralresource

Kairos Minerals Ltd (ASX: KAI) is pleased to advise that it has received all final 4m-composite sample results from the RC drilling program conducted in 2021 at its 100%-owned Mt York Gold Project located in the Pilbara region of Western Australia. The 2021 RC drilling program at Mt York project comprised 95 drill holes for a total of 14,988m, and it was completed on the 19th of November. A breakdown of the drilling program is shown in Table 1. Previous results of this programme were announced in press releases by Kairos Minerals on 15th September 2021, 23rd November 2021 and 13th January 2022.


Highlights

  • Final 4m-composite sample results received from the 14,988m Reverse Circulation drilling program completed in 2021 at the 873,500oz Mt York Gold Project
  • Latest results include:
    • 49m @ 1.75g/t Au from 135m in KMYC196 (The Gap), including:
      • 19m @ 3.29g/t Au from 153m
    • 24m @ 3.14g/t Au from 100m in KMYC198 (The Gap), including:
      • 14m @ 4.30g/t Au from 104m
    • 28m @ 1.66g/t Au from 32m in KMYC194 (Main Hill), including:
      • 12m @ 3.26g/t Au from 32m
  • Results extend the new high-grade lode down-dip at “The Gap”, with intercepts including 8m @ 6.16g/t Au from 172m (KMYC197)
  • These highly encouraging new results will help underpin a resource upgrade
  • 1m re-splits submitted with results expected in June

Kairos Managing Director Dr Peter Turner said:“These results confirm that the Mt York Gold Project is a big system that is yet to be fully understood. The technical team has done a superb job targeting parts of the orebody that are either under-drilled or not drilled at all and have provided the Company with excellent results that it will take into the next round of resource estimation. These are some of the best grade and widths we have seen at Mt York to date.

“We have commenced a technical review of the deposit and are looking for more opportunities to increase our confidence in the mineralisation and importantly, substantially grow the resource. I remain extremely positive about delivering cost-effective exploration to deliver value with this highly promising asset.

“Organic growth through targeted drilling is in our view the best way to create shareholder value and is entirely in line with our strategy. We anticipate a further 10,000m drill programme at Mt York in the second half of the year”.


The RC holes drilled at the Mt York deposit continue to deliver exceptional results, including 49m @ 1.75g/t Au from 135m in KMYC196. See Figure 1 for a cross-section and Figure 3 for a plan view.

The Company is expecting results of the 1m resplit samples of mineralised intervals next month in preparation for a mineral resource update later in the year.

Mt York RC Drilling Program

This follow-up drilling at “The Gap” prospect, between Main Hill and Breccia Hill historic pits extends the mineralization zone approximately 75m down-dip with mineralisation remaining open at depth. KMYC197 returned exceptional intercepts of 8m @ 6.16g/t Au, extending the high-grade lode previously intercepted in hole KMYC128 (see ASX release, 15 September 2021).

These latest results will likely have a positive impact on the next mineral resource estimate, especially for the Gap prospect, where the previous estimate relied on only shallow drilling (see press release dated 4th March 2020).

Figure 1 shows the cross-section with the RC holes drilled to follow up the results from the KMYC128.

In-fill drilling conducted underneath the historic Main Hill pit, returned exceptional grades of up to 6.31 g/t Au (KMYC194), within a thick and shallow zone of 16m @ 2.60 g/t Au from 32m. See Figure 2 for a cross- section and Figure 3 for a plan view.


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.

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Cautionary Statements

This press release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance, including without limitation, statements regarding the completion of the Offering and the timing thereof, and the anticipated use of proceeds of the Offering are forward-looking statements and contain forward-looking information. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates," or variations of such words and phrases or statements that certain actions, events or results "may," "could," "should" or "would" or occur. Forward-looking statements are based on certain material assumptions and analyses made by the Company and the opinions and estimates of management as of the date of this press release, including, but not limited to, that the Company will complete the Offering on the terms disclosed, that the Company will receive all necessary regulatory approvals for the Offering, that the Company will use the proceeds of the Offering as currently anticipated; and assumptions relating to the state of the financial markets for the Company's securities. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Important factors that may cause actual results to vary, include, without limitation, that the Company may not be able to raise funds under the Offering, as currently anticipated, that the Company may fail to receive any required regulatory approvals for the Offering, that the Company will not use the proceeds of the Offering as anticipated, market volatility, unanticipated costs, changes in applicable regulations, and changes in the Company's business plans. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws. The Canadian Securities Exchange (CSE) has not reviewed, approved, or disapproved the contents of this press release.

SOURCE Quimbaya Gold Inc.

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