THE DRILL SERGEANT: Kairos Minerals (ASX: KAI) timed its announcement of four new gold targets identified at the company’s 100 per cent-owned Kangan project in Western Australia with executive chairman Terry Topping’s presentation to the RIU Resurgence Conference.
The Kangan project is located 90km south of Port Hedland and 20km south-east of the new Hemi gold discovery of De Grey Mining (ASX: DEG).
Kairos Minerals identified the targets by way of results from a recently completed geochemical sampling program, together with interpretation of data from a recent aeromagnetic survey.
The new targets include a large gold target that sits in a favourable geological position for potential intrusive-hosted gold discoveries.
In light of the new discoveries, Kairos has decided to prioritise an initial aircore drilling program to test the targets next quarter.
Target 1 is defined by a major north-south structural zone which is coincident to a 3km long geochemical anomaly.
Target 2 is a gold-in-soil anomaly coincident with some magnetic features. Sulphur and Strontium are also elevated within this target area.
Target 3 is defined by a 3.5km long geochemical anomaly coincident with magnetic features and lithological boundaries.
Target 4 is a low-level gold anomaly coincident with a magnetic feature.
“Our systematic approach to exploration across the Pilbara Gold Project is continuing to generate results across a number of fronts,” Kairos Minerals executive chairman Terry Topping said in the company’s announcement to the Australian Securities Exchange.
“Results have been received from the recent Ultrafine soil geochemistry program at Kangan and together with newly interpreted aeromagnetic data, have generated four gold targets.
“The largest of these is a coincident geochemical and geophysical feature that sits on the margin of an intrusion in a geologically favourable position just 20 kilometres from De Grey Mining’s exciting Hemi discovery.
“We plan to commence heritage surveys with a view to testing these new targets as soon as possible, clearing the way for initial aircore drilling in October/November this year.”
Elsewhere Kairos has completed a ground-based geophysical program for the Fuego prospect, part of the company’s Croydon project, located 120km south of Port Hedland.
The survey also covered the Iron Stirrup and Old Faithful prospects at the Mt York project.
Approximately 190 line kilometres of survey has been completed to date and data processing and interpretation is now underway.
The survey is currently in progress over the Tierra prospect at the Croydon project, with 70 line kilometres planned to cover over 5km strike of the geochemical anomaly.
“RC drilling is continuing at the Fuego prospect with eight holes completed to date,” Topping said.
“We are encouraged by the initial indications from this drilling, with broad zones of sulphides intersected in conglomerates, sandstones and black shale.
“Assays are awaited and drilling is progressing to allow us to complete the initial program at Fuego.
“Drill pad preparation at the Mt York Project has now been completed and the rig will relocate from Fuego to Mt York as soon as the current program is completed, to drill extensions of the Mt York, Iron Stirrup and Old Faithful deposits.
“In total, we expect to drill approximately 5,000 metres across the two project areas.”
TO WATCH THE RESOURCES ROADHOUSE INTERVIEW TERRY TOPPING AT THE RIU RESURGENCE CONFERENCE: