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Kairos Minerals Ltd discovers gold at depth in historic producing mine

Kairos Minerals Ltd discovers gold at depth in historic producing mine

Kairos Minerals Ltd (ASX:KAI) is rapidly progressing exploration targeting two of the strongest performing commodities of the past year, within its Mt York Lithium-Gold Project, located 120 kilometres south-east of Port Hedland in Western Australia.

The geological review of historical data has identified extensions of the high-grade gold lodes beneath the historical Iron Stirrup Open Pit Mine.

This work is proceeding in parallel with the ongoing assessment of the lithium potential at Mt York, adjacent to Pilbara Minerals Ltd’s (ASX:PLS) world-class Pilgangoora Lithium-Tantalum Project.

Results from the exploration will form the basis of a JORC 2012 mineral resource estimate planned for completion in July 2016.

Historic mining at Iron Stirrup accounted for the bulk of production from the Lynas Find Project which, at the time of closure in April 1998, totalled 125,493 ounces of gold.

Significant historical intersections directly below the existing open pit included good gold grades and widths including: 30 metres at 3 g/t gold and 25 metres at 3.3 g/t gold.

The mineralisation occurs over a minimum strike extent of 300 metres, and remains open along strike and at depth.

A 2,000 sample soil programme is currently in progress to test both the lithium and gold potential of the broader project area.

A drilling program will kick off once statutory approvals are received.

The presence of significant high-grade gold intersections below the previously mined pit at Iron Stirrup and work underway underlines the word "kairos" which is Greek for "the opportune moment" or "opportunity."

 

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