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- Kairos Minerals (KAI) identifies a new gold target at its Mt York Gold Project in the Pilbara region of Western Australia
- The new target is located outside the company’s current mineral resource base and returned assay results from rock chip samples of up to 4.6 grams per tonne (g/t) gold
- The company says the new target is shaping up to be a priority focus for its exploration activities at Mt York in 2022
- The company has received assay data from five further reverse circulations (RC) holes completed at the Mt York Project last year, with 23 assays pending
- Kairos Minerals shares are up 3.45 per cent to 3 cents at 10:28 am AEDT
Kairos Minerals (KAI) has identified a new greenfields gold target at its wholly-owned Mt York Gold Project in the Pilbara region of Western Australia.
The new target, confirmed at the Steamboat prospect, is located outside the company’s current mineral resource base after returning assay results from rock chip samples of up to 4.6 grams per tonne (g/t) gold.
The new target area is located around 500 metres southeast of the Old Faithful deposit and was subject to a heritage survey late last year to obtain access clearances for drilling.
“The discovery of an exciting new gold target outside of the current 873,500-ounce Mineral Resource inventory at Mt York is a great way to start the New Year,” said Kairos’ Executive Chairman, Terry Topping.
“Given the proximity of the Steamboat prospect to the existing Old Faithful deposit and the strength of the surface rock chip samples and mapping, this is shaping up as a priority focus for our exploration activities at Mt York in 2022.”
The company has received assay data from five further reverse circulations (RC) holes completed at the Mt York Project last year. For 23 drill holes, assay results are still pending.
Results included 80 metres at 0.93 g/t gold from 108 metres and 4 metres at 6.16 g/t gold from 108 metres.
Meanwhile, Kairos has received only 175 of a total of 392 rock chip samples collected at Mt York during the 2021 field season.
Results from a further 23 drill holes collected during the 2021 field season are still pending.
Terry Topping commented that despite the frustrations of the slow turnaround of assay results industry-wide, the company is continuing to see very encouraging results.
Kairos Minerals shares are up 3.45 per cent to 3 cents at 10:28 am AEDT.
