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 upgrade of the existing 873,500 oz mineral resource

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

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