Kairos Minerals Ltd (ASX: KAI) has successfully raised gross proceeds of A$7.1 million through the exercise of 285,233,610 listed options at A$0.025.
Executive Chairman, Terry Topping, said the success of the option exercise and underwriting leaves Kairos with a very healthy cash position to pursue its exploration objectives in Western Australia over the year ahead.
“Building on the high-quality work completed last year, we are ready to hit the ground running in 2022 to test a range of high- priority gold and lithium targets and strive for the breakthrough discovery we are all working towards.
“With the recent exciting discovery of extensive Lithium pegmatite targets and the Steamboat gold prospect outside of the current 873,500oz Mineral Resource inventory at Mt York and the ramp up of exploration for gold and lithium targets across our prospective Pilbara tenement package, we are gearing up for another very active exploration season.”
The Company now has funding in place to achieve its key exploration objectives in the Pilbara and Eastern Goldfields of Western Australia, which include:
• Continuing to expand and in-fill the current Mineral Resource of 20.9Mt at 1.3g/t for 873,000oz already outlined at the Mount York Gold Project and follow up exciting new targets generated through 2021.
• Expanding ongoing exploration efforts targeting Hemi-style gold deposits in the Pilbara through detailed regional exploration at the Skywell, Croydon and Kangan Projects.
• Commencing exploration to follow up recently identified lithium pegmatitite targets at the Kangan and Wodgina Projects and other regional prospects in the Pilbara.
• Progressing exploration at the Roe Hills Project to follow up regional gold targets and commence field exploration targeting lithium-bearing pegmatites.
For further information please visit: https://www.kairosminerals.com.au/