THE DRILL SERGEANT: Kairos Minerals (ASX: KAI) announced an expansion to the ongoing drilling program at the company’s 100 per cent-owned Pilbara gold project in Western Australia.
Kairos Minerals indicated the drilling within the Croydon project area, would now include the Tierra prospect, with over 5,000 metres of drilling expected to be completed at both Tierra and the Fuego prospect.
To date, 20 RC drill holes have been completed at the Fuego prospect, with the drill rig set to shift Tierra for a further 1,500m of drilling.
Another program of RC drilling is expected to start in November at the Mt York project, with around 5,000m planned to be drilled across the project area targeting extensions of the existing deposits and potential new discoveries.
“Thanks to the recently completed $9 million capital raising, we are in a position where we can really make the best possible use of the remaining time between now and the onset of the northern field season,” Kairos Minerals executive chairman Terry Topping said in the company’s announcement to the Australian Securities Exchange.
“With drilling now complete at Fuego, we have decided to expand the program at Croydon by drilling an initial 1,500 metres program using the same rig at the exciting Tierra prospect to test the gold targets we have defined previously, which have coincident geochemical and geophysical signatures.
“The RC rig will then move to Mt York to drill approximately 5,000 metres targeting extensions of the Mt York, Iron Stirrup and Old Faithful deposits.
“In total, this will increase the size of the RC program to around 10,000 metres.
“This excludes the previously foreshadowed air-core programs we are planning at the Kangan and Skywell Projects, commencing in the December quarter.
“The net result of all of this increased activity is that shareholders can look forward to strong and regular news-flow with drilling updates and assay results from now through until Christmas and into early next year.
“This is a really exciting time for Kairos as we move closer to our goal of hopefully uncovering a significant new Pilbara gold discovery while also expanding our resource position at Mt York.”
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