A resource upgrade appears to be on the horizon for Kairos Minerals after receiving positive assay results from its RC drilling efforts at the company’s 873,500-ounce Mt York gold project in WA’s Pilbara region. The explorer says its latest results are “highly encouraging” as it expects the broad grades to have a positive impact on the next resource estimate, particularly for the company’s The Gap prospect between the project’s existing Main Hill and Breccia Hill open pits.
Significant and broad hits from The Gap include a 49m strike going 1.75 grams per tonne gold from 135m including a higher grade 19m at 3.29 g/t and a intersection of 24m at 3.14 g/t from 100m including 14m at 4.3 g/t.
The results extend a new high-grade lode about 75m down-dip at the central prospect, where a previously reported standout strike of 8m at 6.16 g/t was uncovered.
Infill drilling beneath the Main Hill open pit, about 250m to the north of The Gap, returned high grades over 4m at 6.31 g/t within a broader 28m at 1.66 g/t from 32m.
The results mark the receipt of its final 4m composite samples from the nearly 15,000m it drilled over 95 holes late last year with the more detailed 1m “re-splits” results expected next month after analysis at the lab.
The assaying of 1m re-splits will provide a higher resolution picture of where the mineralisation lies and in what grades, whereas the analysis of 4m composite samples is typically a broader and more efficient initial approach.
Kairos Minerals Managing Director, Dr Peter Turner says: “These results confirm that the Mt York Gold Project is a big system that is yet to be fully understood. The technical team has done a superb job targeting parts of the orebody that are either under-drilled or not drilled at all and have provided the company with excellent results that it will take into the next round of resource estimation. These are some of the best grades and widths we have seen at Mt York to date.”
The company has commenced a technical review of the deposit and is looking for more opportunities to increase its confidence in the mineralisation and ultimately boost its resource.
It aims for organic growth through targeted exploration and anticipates drilling a further 10,000m at Mt York in the second half of the year.
The final batch of composite assays builds upon an array of previously reported significant results including a 32m intercept at 0.62 g/t gold, including 4m at 2.01 g/t at the Breccia Hill open pit, 165m to the south-east of The Gap.
Another hit of 60m at 1.05m from 148m was reported from The Gap in addition to a 28m strike going 1.35 g/t from surface at Main Hill.
The explorer’s Mt York project is about 30km south-east of ASX-listed De Grey Mining’s world-class Hemi gold project.
Since picking up the project in early 2016 from Tyranna Resources, Kairos has rapidly built up the resource base from 49,515 ounces to 873,500 ounces of gold.
Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au
By Matt Birney
