Kairos Minerals has jumped into a large-scale exploration program across the Pilbara as it looks to replicate DeGrey Mining’s stunning Hemi gold discovery just down the road. The move comes hot on the heels of Kairos’ successful $4.2 million capital raise last month. Exploration will focus on the Kangan, Mt Yorke and Fuego targets with drilling scheduled to commence in July.
Kairos Executive Chairman, Terry Topping, said: “At a time when investor interest in gold exploration in the Pilbara is at an all-time high thanks to the rapidly emerging high-grade discovery at De Grey Mining’s Hemi prospect, we are really looking forward to what this upcoming field season can deliver for our shareholders.”
“Importantly, we have multiple targets and multiple opportunities to test – which should keep us busy for the foreseeable future. A key focus will be exploring for Hemi-style intrusive targets and developing a pipeline of drilling targets.”
Kairos’ has amassed an enviable ground position at its Pilbara Gold Project that now covers more than 1,300 km2 of land within this highly sought-after address. Its various prospects swing in an arc from the south west to the south to the south east of DeGrey Mining’s Hemi discovery that catapulted that relatively unknown company into market darling status recently with a market cap of more than $700m. One of Kairos’ emerging priorities is the Kangan prospect which counts De Grey’s 2.2 million-ounce Hemi gold project as its neighbour.
Kairos has secured five key prospect areas with targets including both intrusive and conglomerate-hosted gold.
In order to expedite the program at Kangan, Kairos has teamed up with the CSIRO as it kicks off the 2020 field season. The company will utilise the CSIRO-developed Ultrafine+ soil sampling technology to test and map an extensive range of geological targets across the Sister Supersuite intrusives and the Cleaverville Band Iron Formation. These two units are known to host gold mineralisation with sampling likely to highlight Hemi-Style targets for later drill testing.
The company is also undertaking a heritage survey at Kangan to pave the way for access and a round of aircore drilling planned for the second half of 2020.
Drilling at Mt Yorke, were the company has already outlined a resource of 873,500 ounces of gold, is scheduled to commence in July with the rig expected to then move to the Fuego prospect soon after – preparations for drilling across these prospect areas are now well advanced.
Fuego remains a ‘wild-card’ for Kairos with the extensive gold anomaly having attracted the attention of the WA government, who have committed $150,000 to help co-fund the upcoming drilling program via its Exploration Incentive Scheme.
The 10 km long Fuego anomaly was outlined by Kairos in 2019 and remains pretty much virgin ground that is still undrilled. The company has plans to attack Fuego with an initial program of 4,210 metres of RC drilling over the high-grade core of the target.
Delivering on its promise of developing a pipeline of prospects, Kairos is also undertaking a detailed program of geophysics across the northern project area that covers the extensive Skywell, Croydon, Kangan and Lalla Rookh projects. This program will commence next week and is expected to assist in highlighting additional targets for testing through the field season.
Kairos is cashed up and has its exploration program well targeted now. The chance discovery of Hemi just down the road has put a spring in its step and with Hemi producing numbers like 45m @ 8.1g/t gold and 49m @ 3.4 g/t, it is little wonder.
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By Matt Birney
