Highlights Strong Potential For Growth And Upside At WA Gold Project
Kairos Minerals Ltd (ASX: KAI) has defined an Exploration Target of approximately 4.4 to 7.4 million tonnes at a grade ranging between 1.5 to 1.8 g/t of gold for areas in close proximity to the Mt York and Iron Stirrup deposits and the Zakanaka prospect at its 100%- owned Mt York Project in Western Australia.
The Exploration Target is in addition to the current JORC compliant Mineral Resource for the Mt York Project of 20.9Mt at 1.3g/t Au for 873,500oz of contained gold.
The Exploration Target excludes untested greenfield exploration potential and potential extensions of the Old Faithful deposit.
Executive Chairman, Terry Topping, said the current drilling programme, comprising approximately 20,000m of RC drilling, is focused on these Exploration Target areas. In addition, a geochemical soil sampling programme is underway to provide targets with the potential for additional discoveries within the Mt York Project area.
“Defining this Exploration Target is an important step towards quantifying the upside potential at Mount York, and to give investors some insights into the opportunities we see to increase both the size and the grade of the current 873,000oz Mineral Resource base,” Mr Topping said.
“This information is also highly relevant given that we have a major 20,000m drill programme currently underway targeting the Exploration Target areas.
“Results from the current drill programme will feed into an updated Mineral Resource for Mount York which we are aiming to complete later this year.
“Against the backdrop of a buoyant gold price and strong outlook for the gold sector generally, the large-scale, high-quality Resource base we have at Mount York provides a strong foundation for Kairos’ value proposition – particularly given it’s Tier-1 location and high-quality portfolio of exploration opportunities, including numerous intrusive-related gold targets that we aim to drill test this year.”
The Mount York Exploration Target was calculated for three areas: Mt York north-west extension, Zakanaka extensions and Iron Stirrup south-east extension.