Kairos Minerals focussed on high-grade WA gold and lithium
THE INSIDE STORY: It would appear somebody forgot to tell Kairos Minerals (ASX: KAI) that extensive exploration programs carried out across a number of project areas are not the current modis operandi for junior exploration plays.
Kairos Minerals’ 100 per cent-owned Mt York lithium-gold project is located 120km south-east of Port Hedland in the East Pilbara region of Western Australia and has a current gold resource of 2.8 Million tonnes at 1.53 grams per tonne gold for 135,000 ounces of gold (JORC 2012).
Earlier this year, Kairos expanded the gold potential of the Mt York project by identifying thick zones of high-grade gold mineralisation located directly below a number of historical mining areas from a review of the project involving a geological reinterpretation of the Iron Stirrup, Main Hill, Breccia Hill and Old Failthful gold prospects.
Two of those four prospects, Iron Stirrup (714,000 tonnes at 1.99g/t gold for 45,000 ounces) and Old Faithful (2.069 million tonnes at 1.37g/t gold for 90,000 ounces) contributed to the calculation of a Phase 1 JORC 2012 Indicated and Inferred Mineral Resource at Mt York of 2.8 million tonnes at 1.53g/t gold for 135,000 ounces of gold.
“This was a great result and easily exceeded our expectations,” Kairos Minerals managing director Joshua Wellisch told The Resources Roadhouse.
“The work doesn’t stop there, however, and we are pushing on with our efforts to update Minerals Resources estimates for Breccia Hill and Main hill as well, which we anticipate will add further ounces to our gold inventory in the near future.”
There can’t be two commodities causing as much market buzz at the moment as Lithium and gold and with both in the Mt York project title it is sure to start receiving some notice.
The project adjoins the tenements of both Pilbara Minerals (ASX: PLS) and Altura Mining (ASX: AJM), companies which have both made important lithium discoveries in recent times.
“Both the gold and lithium prices have performed very well lately,” Wellisch said.
“Our strategy is to unlock the gold and lithium potential at Mt York to take advantage of this extraordinary opportunity to add near-term value to the company.”
Gold is also the main flavour of the company’s 100 per cent-owned Roe Hills gold project, located 120km east-southeast of Kalgoorlie in WA.
An assessment carried out to ascertain the project’s gold potential by Kairos’ geological team confirmed the presence of gold-bearing structures and favourable mafic host lithologies within the Ginger Kiss and Terra prospect trends.
Both targets possess strong geological similarities to Silver Lake Resources (ASX: SLR) Aldiss project and a subsequent review of the French Kiss deposit therein, highlighted the possibility of gold mineralisation occurring within a conjugate shear set.
Kairos’ team have interpreted a similar structural setting at Ginger Kiss and Terra and both trends will be targeted in an upcoming drilling program.
“The Mt York project is our main focus, but the potential at Roe Hills can’t de denied,” Wellisch said.
“The Roe Hills gold exploration opportunity, located in the heart of the one of the most active gold exploration districts in Australia, has been highlighted by Lake Roe project of Breaker Resources, just 10 kilometres away.
“We’re also very close to Silver Lake’s key deposits, and work has revealed many the structures hosting those deposits extend onto our ground, allowing us to identify promising exploration targets, which we plan to evaluate with gravity surveys next month before commencing our next drilling program in October.
“With resource development and exploration activity also gearing up at Mt York, the next few months will be very active and exciting on a number of fronts.”
Kairos Minerals (ASX: KAI)
…The Short Story
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West Perth, WA 6005
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Email: info@kairosminerals.com.au
Website: www.kairosminerals.com.au