Total
0
Shares
Samples from the air-core drilling at Kangan Project. Source: Kairos
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Kairos Minerals (KAI) reports initial assay results from its reconnaissance air-core (AC) drilling program at Kangan Project, located near Port Hedland in Western Australia
  • The program included 133 holes for 5454 metres and was designed to test a sizeable anomalous gold target near major structures
  • The AC program has been successful in identifying anomalous gold zones, with four holes returning above 0.1 grams per tonne (g/t) of gold
  • Kairos is now planning to further drill later this month to evaluate the potential of the project
  • Shares in Kairos were down 11.1 per cent to 3.2 cents per share at 10:41 am AEDT

Kairos Minerals (KAI) has reported initial assay results from its reconnaissance air-core (AC) drilling program at Kangan Project, located near Port Hedland in Western Australia.

The program included 133 holes for 5454 metres and was designed to test a sizeable anomalous gold target near major structures identified from aeromagnetic and soil geochemistry data.

The AC program has been successful in identifying anomalous gold zones, with four holes returning above 0.1 grams per tonne (g/t) of gold.

Results include four metres at 0.18g/t of gold from 32 metres and four metres at 0.13g/t gold from 28 metres.

Notably, three holes that returned anomalous gold are located near a three-kilometre long structure, which is similar to a large regional structure opposite the Hemi deposit.

Individual one-metre samples have now been submitted for gold and multi-element analysis.

Additionally, three high-priority lithium-caesium-tantalum (LCT) targets have been found from a defined Ultrafine+ soil sampling program. These targets are currently undergoing the heritage approval process to clear these areas for drilling.

Kairos’ Executive Chairman, Terry Topping, is “very encouraged” by these initial results.

“The 5454 metre program has returned significant anomalous gold values from initial testing of the largescale gold target – an important outcome considering how widely spaced the holes were,” Mr Topping said.

“With line spacing of 200 metres to 600 metres, there is potential for a significant gold deposit to be located in the bedrock somewhere beneath these drill lines. The location of significant anomalous gold adjacent to a major regional structure that bears strong similarities to the regional structure at Hemi, is an intriguing development.”

Kairos is now planning to further drill later this month to evaluate the potential of the project.

Shares in Kairos were down 11.1 per cent to 3.2 cents per share at 10:41 am AEDT.

KAI by the numbers
More From The Market Herald
Orange Minerals (ASX:OMX)- Managing Director, David Greenwood

" Orange Minerals (ASX:OMX) up on debut, commences drilling at Calarie

Orange Minerals (OMX) shares are up on its ASX debut as the company commences drilling at its Calarie Gold Project in New South

" Godolphin (ASX:GRL) shares spike on restart of Gundagai drilling

Following delays due to bad weather, Godolphin (GRL) has recommenced drilling at its Gundagai North and South projects in the Lachlan Ford Belt
XAM

" Xanadu Mines (ASX:XAM) updates Kharmagtai resource to 1.1 Billion Tonnes

Xanadu Mines (XAM) has updated its copper-gold resource estimate at the Mongolian-based Kharmagtai mine to 1.1 billion tonnes.
Nickel Mines (ASX:NIC) Managing Director, Justin Werner

" Nickel Mines (ASX:NIC) proceeds with nickel project acquisition

Nickel Mines (NIC) and Shanghai Decent Investment Group have chosen to proceed with the acquisition of a nickel project in Indonesia.