Kairos Minerals Ltd (ASX:KAI) has revealed a resource estimate of 135,000 gold ounces for the first of several historical open pits and deposit at the Mt York Lithium-Gold Project in Western Australia’s East Pilbara region.
The indicated and inferred resources for the Iron Stirrup and Old Faithful deposits comprises of 2.8 million tonnes at 1.53 g/t for 135,000 gold ounces, using a 0.5 g/t cut-of.
Interestingly, historic mining by the previous operator Lynas Gold at Iron Stirrup totalled 125,493 ounces of gold in the mid-1990s.
A low gold price and pit wall failure at Iron Stirrup resulted in Lynas Gold ceasing mining operations in 1998.
The updated JORC 2012 mineral resource has been estimated by Kairos as part of a geological review and reinterpretation of the extensive historical database for the project.
Further resource estimations are currently in progress for the high-grade gold lodes beneath the historical Main Hill and Breccia Hill open pit mines.
These will be completed over the coming days, resulting in a further increase in the Mt York gold inventory.
Additionally, Kairos plans to commence an initial 10-hole, 3000 metre drill program in August-September, once tenement applications are granted.
The key targets will include extensions to the known gold mineralisation in close proximity to the current base of the Iron Stirrup Pit to explore near-term pit expansion opportunities.
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