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Kairos Minerals Ltd discovers opportunity to expand gold resource

Kairos Minerals Ltd (ASX:KAI) has confirmed with soil sampling that high priority gold targets are located outside of the known resource areas at its wholly owned Mt York Lithium-Gold Project located in the Pilbara region of Western Australia.
Kairos Minerals Ltd discovers opportunity to expand gold resource
Soil sampling returned up to 13 g/t gold.

The soil sampling has returned grades of up to 13 g/t gold.

The project hosts four gold deposits – Old Faithful, Iron Stirrup, Main Hill and Breccia Hill - totalling 5.69 million tonnes grading 1.42 g/t gold for 258,000 ounces of gold.

The company’s maiden drilling program commenced at Mt York at the end of September and first assays are due by the end of this week.

Drilling is testing for extensions to the known deposits and to provide first pass evaluation of new anomalies in order to expand the company’s gold resources.

A total of 4,500 metres of diamond and reverse circulation drilling is on schedule for completion in 2016.

Phase 1 of the current program was designed to evaluate extensions to the Old Faithful and Iron Stirrup gold deposits, both at depth and along strike.

Phase 2 drilling will begin with 1,200 metres targeting the newly identified high-grade soil anomaly gold targets.

Drilling to test these new high priority targets identified by the soil sampling is to commence immediately.

Mt York is emerging as a significant Western Australian gold project with multiple resource expansion opportunities.

The company finished the September quarter with $4.1 million in cash.

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