Kairos Minerals Encouraged by First Drill Results from Mt York

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THE DRILL SERGEANT: Kairos Minerals (ASX: KAI) released initial assay results from an ongoing maiden drilling program underway at the company’s 100 per cent-owned Mt York lithium-gold project in the Pilbara region of Western Australia.

Kairos Minerals has completed 12 diamond drill holes to date for 2,996.2 metres and one RC hole for 132m for a combined total of 3,128.2m of drilling at the Old Faithful and Iron Stirrup gold deposits.

Assays have so far been received for holes KMDY001 and KMYD002.

Kairos explained KMDY001 was positioned to test an interpreted fold closure in the central part of the deposit between the western and eastern lodes.

This hole intersected only minor mineralisation but provided important structural information to better position subsequent holes.

KMYD002 was drilled a further 300m to the south and returned a thick intercept of strong near-surface gold mineralisation.

The best intersections were recorded in KMDY002 as follows:

11.92 metres at 3.57 grams per tonne gold from 10.25m down-hole, including 7.18m at 5.21g/t gold from 14m down-hole, and 1m at 20.5g/t gold from 15m down-hole;

14.62m at 0.59g/t gold from 102m down-hole, including 6.92m at 1.12g/t gold from 109.7m down-hole; and

6.9m at 1.13g/t gold from 140.46m, including 1.83m at 2.23g/t gold from 141.53m.

Kairos indicated the maiden drill program includes the first diamond cored holes ever drilled at the Old Faithful deposit in order to test the existing geological/structural model.

“The results confirm the presence of a parallel series of previously unrecognised steeply west-dipping lodes at the Old Faithful deposit suggesting that the structural setting at Old Faithful is akin to that of the nearby Iron Stirrup deposit, which was successfully exploited via open pit mining methods by Lynas Mining during the mid-1990’s,” Kairos Minerals said in its ASX announcement.

“This new interpretation significantly increases the potential for the mineralization to be extended both at depth and along strike.”

Website: www.kairosminerals.com.au