Kairos Minerals (ASX:KAI) has completed a ‘successful’ drilling campaign, resulting in a Mineral Resource Estimate (MRE) increase for the Mt York Gold Project in Western Australia.
The company says the MRE has increased by 500,000 ounces to 49.24 million tonnes (Mt) @ 1.02g/t Au for 1.62 million ounces (Moz) of gold. The MRE includes the Main Trend and 2 satellite deposits called Iron Stirrup and Old Faithful, situated about 5km and 7km north-northeast of the Main Trend.
Additionally, the new MRE consists of an update to the Main Trend, as 11,013.6m of reverse circulation (RC) and diamond drilling were completed in 2022. The updated Main Trend resource is 43.08Mt @ 1g/t Au for 1.39Moz of contained gold.
Commenting on the MRE increase, Kairos Minerals Managing Director Peter Turner says: “To add half-a-million ounces in just 8 months is an outstanding result, which reflects the quality and ongoing growth potential of Mt York.
At 1.6 million ounces, Mt York now has genuine scale right in the heart of one of the world’s most desirable mining regions. The mineralisation along the Main Trend remains open and we have numerous highly promising prospects to test.
“At 1.6 million ounces, Mt York now has genuine scale right in the heart of one of the world’s most desirable mining regions”
We will continue to focus on drilling our pipeline of untested soil anomalies in a bid to growing the resource while undertaking economic studies on an open pit operation.”
The company says it has identified several ‘highly’ promising opportunities for further resource growth beyond its 3 deposits currently included in the mineral resource.
Kairos notes exploration activities will be focusing on exploring areas within the greater Mt York tenure, which demonstrates ‘significant’ gold discovery potential.
Kairos Minerals is an Australian exploration company focused on targeting ‘large-scale’ gold discoveries in Western Australia’s premier mining districts. The company’s primary focus is on its wholly owned Pilbara Gold Project, which covers a ‘large’ landholding in the Pilbara gold district.
Images: Kairos Minerals Ltd
