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Kairos Minerals (ASX:KAI) - Executive Chairman, Terry Topping - The Market Herald
Executive Chairman, Terry Topping
Source: Mining Journal
  • WA-based exploration company Kairos Minerals (KAI) has announced drilling at its Croydon Project returned low-grade results
  • 29 reverse circulation (RC) drill holes were completed across Croydon's Fuego and Tierra Prospects
  • Assay results from the first eight holes at Fuego returned best results of 12 metres at 0.12 g/t gold from 156 metres
  • Despite the low-grade result, Kairos believes the Fuego target remains prospective and the assays have given it a better understanding of the prospect
  • The company is still awaiting results from the RC drilling program, with further drilling also planned for its Mt York Project next month
  • Shares in KAI have opened trading down 16.7 per cent at 4.5 cents each

Kairos Minerals (KAI) has announced recent reverse circulation (RC) drilling carried out at its Croydon Project have returned low-grade results.

The exploration company's RC drilling program at Croydon spanned 29 holes for 5,586 metres, targeting the Pilbara-based project's Fuego and Tierra Prospects.

Assay results from the initial eight out of 20 holes drilled at the Fuego Prospect returned generally low-grade results, including 12 metres at 0.12 g/t gold from 156 metres.

Despite the less than pleasing outcome, Kairos Executive Chairman Terry Topping said Fuego target remains prospective.

"While the assays from the first eight holes returned generally low-grade gold values, the Fuego target remains extremely prospective and the first round of drilling has given us a much clearer handle on where to target follow-up exploration," Terry explained.

"We are also encouraged by the initial drilling at the Tierra prospect, where four wide-spaced holes were completed in the northern part of the prospect and five in the southern part. Significant sulphides were logged in hole TRRC002, and we are looking forward to seeing the assay results in the coming weeks," he added.

Kairos is still awaiting on the remaining assay results from the recent Croydon drilling program.

The company is also gearing up to begin RC drilling at its Mt York Project, which is scheduled to get underway mid next month.

Additionally, KAI will carry out heritage surveys at the Croydon and Kangan Projects as well as finalising a soil geochemistry program at its newly defined Aqua prospect near Tierra.

Shares in KAI have opened trading down 16.7 per cent, worth 4.5 cents each at 11:06 am AEDT.


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