Kairos Minerals (ASX:KAI) has encountered ‘strong’ and ‘outstanding’ results below the 1.1 million ounce (Moz) resource following a drilling program at its Mt York Gold Project in Western Australia’s Pilbara region.
The results, generated by 33 of 46 drillholes for 11,013.6m, have returned consistent ‘high-grade’ intersections over ‘significant’ widths, which support the potential for further increases to the 1.1Moz resource.
The company says drilling was conducted between September and December 2022 with the aim of drilling beyond the current resource model, specifically at depth to increase resources, and increase the confidence in the resource category along the contiguous Main Trend.
“The results support our view that Mt York is a big system in a Tier-1 location with consistent mineralisation”
Adding on, Kairos Minerals notes diamond core drilling accounted for 54% of the total drilling program and assisted in the collection of valuable data for geological modelling, and to determine bulk densities for the next round of resource estimation.
Key results include hole KMYC207 with 15m @ 1.47g/t gold (Au) from 66m including 5m @ 3.63g/t Au from 73m (Breccia Hill); hole KMYC262 with 10m @ 2.49g/t Au from 64m including 5m @ 4.25g/t Au from 65m (Gossan Hill); and hole KMYC247 with 23m @ 1.47g/t Au from 148m including 7m @ 3.18g/t Au from 148m (Gossan Hill).
Remaining assays are expected to be received in March 2023
Commenting on the results, Kairos Managing Director Dr Peter Turner says: “The latest drilling has been highly successful, intersecting high-grade mineralisation over significant widths below the current 1.1Moz resource.
The results support our view that Mt York is a big system in a Tier-1 location with consistent mineralisation. More assays are pending and we are confident that the resource will continue to grow.
In parallel with our strategy to increase the inventory, we are progressing preparations for project development with Mining Lease Applications already submitted.”
The company also notes it is confident that the new results, in conjunction with bulk density measurements of selected core samples, will support a ‘significant’ increase in the mineral resource.
In addition, it is reported these results demonstrate consistent and wide zones of mineralisation, often with intervals of ‘higher-grade’ gold mineralisation above the current global resource grade of 1.23g/t Au within lower grade zones. Drilling also demonstrates that mineralisation at Main Hill, The Gap, and Breccia Hill dip steeply to the southwest, south-southwest, and south respectively.
Meanwhile, the mineralisation at Main Hill currently remains relatively undrilled due to challenges for drill-rig access.
Kairos Minerals is an ASX-listed Australian exploration company focused on targeting ‘large-scale’ gold discoveries in Western Australia’s premier mining districts. The company’s Mt York project is located about 100km south of Port Hedland in the Tier 1 gold country of Western Australia and is wholly owned by Kairos.
The project currently boasts a Mineral Resource Estimate (MRE) of 28.01 million tonnes (Mt) @ 1.23g/t Au for 1.104 million ounces (Mozs) of gold, including 13.93Mt @ 1.3g/t Au for 581,000 ounces within the indicated category, and 14.08Mt @ 1.15g/t Au for 523,000 ounces in the inferred category.
Other assets included in the company’s exploration arsenal include its wholly owned Roe Hills Project in Kalgoorlie.
