Kairos Minerals has followed up this month’s discovery of widespread gold anomalies over more than 10km at its emerging Croydon gold project near Port Hedland in WA, with another set of impressive geochemical results.
The new assays from regional stream sediment sampling completed in 2018, peaked at 1.2g/t gold and confirmed the widespread distribution of gold across the project area, with over 70% of the recent sampling turning up positive numbers for the company.
According to management, the distribution of gold across the different geological horizons at Croydon provides significant incentive to continue evaluating the project this year.
Kairos is now looking to vector in on the potential source of the extensive gold mineralisation it has located to date at Croydon, by compiling all the existing geological and geochemical stream drainage surface data this quarter.
The company said there is an excellent correlation between the stream sediment sample results and pan concentrating, with a 3 ounce gold nugget discovered as part of a larger reconnaissance mapping and metal detecting program completed by Kairos at Croydon last year.
Kairos Executive Chairman Terry Topping said: “This rounds off our 2018 exploration field season in the Pilbara, with more outstanding results from stream sediment sampling highlighting just how widespread the distribution of gold mineralisation is at Croydon.”
“Achieving peak samples of 1.2g/t Au and 1.5g/t Au over a significant area, with gold anomalism confirmed over a strike length in excess of 10km, is an incredible result which shows just how regionally prospective this area is.”
“As a result of these stream sediment results and the mapping we have completed in recent months, we now have a much clearer picture of where to look for potential large accumulations of gold mineralisation … we will be resuming exploration in the Pilbara as soon as seasonal conditions permit.”
The Croydon Project is located within the central part of Kairos’ larger, 100%-owned Pilbara gold project tenement holdings, about 100km to the west of the Mt York gold project where a recent mineral resource update defined 14.4 million tonnes grading 1.39g/t gold for 643,000 ounces.
The company said it is currently reviewing an optimum development pathway for the substantial gold resources it holds at the Mt York project.
Mr Topping added: “… we already own a substantial gold resource inventory (at Mt York) totalling almost 650,000oz in the Pilbara ... With the recent sustained increase in the gold price to over A$1800/oz, this represents a valuable asset … and we intend to pursue the best avenues to unlock the value of this large resource base for our shareholders.”
It’s shaping up to be an exciting 2019 for Kairos, as it seeks to develop a better understanding of the potential at its emerging Croydon gold project and potentially looks to monetise the Mt York gold assets to the east.
By Matt Birney
