Sign up Australia
Proactive Investors - Run By Investors For Investors

Kairos Minerals reveals potential to expand Mt York gold

The drilling has confirmed multiple stacked lodes of gold.
Kairos Minerals reveals potential to expand Mt York gold
Kairos has significant opportunities for resource expansion

Kairos Minerals (ASX:KAI) has received positive results from its maiden diamond drilling program at the Mt York Gold-Lithium Project in the Pilbara region of Western Australia.

The results were from wide-spaced reconnaissance diamond drilling to test for gold mineralisation along strike below and down-plunge of the Main Hill and Breccia Hill gold deposits.

The drilling has confirmed the presence of multiple stacked lodes of gold mineralisation up to 200 metres below the known resources, demonstrating that the gold system is significantly larger than previously thought.

Three widely-spaced diamond holes returned gold assays, including:

- 7.16 metres at 1.67 g/t gold from 91.47 metres;

- 1.40 metres at 3.11 g/t gold from 220.48 metres; and

- 1.72 metres at 0.91 g/t gold from 103 metres.

This discovery highlights the potential to expand the JORC resource for the Mt. York Project currently totalling 5.7 million tonnes at 1.42 g/t gold for 258,000 ounces of contained gold.

The stacked lodes are open both up- and down-dip, and importantly remain untested near-surface within the immediate footwall to the historical open pits – providing an outstanding target for follow-up resource drilling.

Kairos has significant opportunities for resource expansion, with assays from the recent drilling awaited along with first-pass testing of several newly identified greenfields targets.

The company had a cash balance of circa $3 million as at 31 December 2016.

View full KAI profile View Profile

Kairos Minerals Ltd Timeline

Related Articles

Danakali-Paul-Donaldson-MD-presenting-Melb-Feb-2017.jpg
February 24 2017
Paul Donaldson discussed with investors the Tier 1 Colluli Potash Project.
1515749109_lithium-periodic-10.jpg
January 12 2018
Savannah Resources has a broad portfolio of assets, including some highly attractive lithium
Royal Road Minerals' Nicaraguan ambitions starting to take shape
September 07 2017
Caza, which it has now bought, controlled land in the highly prospective but undeveloped gold belts of Nicaragua

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use