Kairos Minerals Ltd (ASX: KAI) has identified a significant new greenfields gold target located outside the current Mineral Resource base at its 100%-owned 873,500oz Mt York Gold Project located in the Pilbara region of Western Australia.
The company has received highly encouraging assay results received from rock chip samples collected at the newly-identified Steamboat prospect, with values up to 4.6g/t Au.
In addition, the company has received assay results from five more Reverse Circulation (RC) holes drilled last year at the Mt York Project. Assay results are pending for 23 drill holes.
“The discovery of an exciting new gold target outside of the current 873,500oz Mineral Resource inventory at Mt York is a great way to start the New Year,” Executive Chairman, Terry Topping, said.
“Given the proximity of the Steamboat prospect to the existing Old Faithful deposit and the strength of the surface rock chip samples and mapping, this is shaping up as a priority focus for our exploration activities at Mt York in 2022.
“The discovery of new zones with the potential to increase our resource base is an exciting development and we are looking forward to returning to this area with drilling during the 2022 field season.
“We have already completed an extensive drone survey and mapping for the new Steamboat prospect and heritage surveys have already been completed and approved.
“The slow turnaround of assay results remains an ongoing industry-wide frustration, and we are still awaiting assays from a significant number of holes drilled at Mt York last year. That said, we are continuing to see some very encouraging results which will be incorporated into a future resource upgrade and ongoing mining studies.
“We look forward to updating the market on numerous other upcoming gold and lithium exploration activities in the near future and reporting additional results from RC and aircore drilling completed last year.”
The first-stage geochemistry sampling programme conducted by Kairos geologists and contractors identified a new target area, located approximately 500m south-east of the Old Faithful deposit, with anomalous rock chip samples of up to 1.1g/t Au coincident with an arsenic-in-soils anomaly trend.
The anomalous gold results were returned from brecciated cherts and BIFs. The company followed up the initial results with a drone survey, rock chip sampling and a heritage survey.
Kairos has received initial results from the second-stage rock chip sampling programme, with assays of up to 4.6g/t Au confirming and extending the target area.
The high-resolution drone survey assisted the field mapping, and a digital terrane modelling (DTM) was generated. Critical geological features were observed from the drone survey and will assist with further mapping and drill-hole planning.
A heritage survey was conducted over the target area late last year in order to obtain access clearances for drilling.
Mount York RC Drilling Program Kairos has received assay results from five more RC drill holes completed at the Mt York Project.
KMYC183 returned exceptional assay results and extended a historical thick intercept of 117.4m @ 1.97g/t Au some 50m down-dip.
The results are from four-metre composite samples, with one sample returning 4m @ 6.16g/t Au from 108m.
Drill-hole KMYC187 returned a significant result of 28m @ 0.85g/t Au from 76m in “the Gap” area west of the historical Breccia Hill pit, where minimal historical drilling has been conducted.
This result included a zone of 4m @ 2.22g/t Au from 100m.
Significant results from the last assays received are:
• 80m @ 0.93g/t Au from 108m in KMYC183, including: 12m @ 2.73g/t Au from 108m and 4m @ 6.16g/t Au from 108m, including: 4m @ 2.37g/t Au from 172m, and 4m @ 2.12g/t Au from 184, and 4m @ 0.98g/t Au from 184m.
• 4m @ 0.68g/t Au from 84m in KMYC184 and o 4m @ 0.56g/t Au from 116m, and 4m @ 0.73g/t Au from 132m, and 8m @ 2.06g/t Au from 172m, including 4m @ 3.37g/t Au from 172m.
• 56m @ 0.99g/t Au from 96m in KMYC186, including 4m @ 3.38g/t Au from 108m, and 4m @ 2.61g/t Au from 148m.
• 28m @ 0.85g/t Au from 76m in KMYC187, including: 4m @ 2.22g.t Au from 100m.
• 8m @ 1.31g/t Au from 96m in KMYC188, and 8m @ 0.53g/t Au from 128m
Assay results are pending for 23 drill holes.
All of the assay results received to date are from four-metre composite samples.
The single-metre samples are being collected, according to the results obtained from the composite samples, and submitted to Intertek Laboratories in Perth for gold and multi-element analysis.
For further information please visit: https://www.kairosminerals.com.au/