- Pilbara gold explorer Kairos Minerals (KAI) has hit over six grams per tonne gold and uncovered a potential new gold lode during a drilling campaign at WA's Mt York project
- Over December, the company drilled 16 holes at the Pilbara asset's Old Faithful and Mt York deposits
- Promisingly, drilling at Old Faithful uncovered mineralisation extensions and the potential new gold lode, returning as much as 6.37 grams per tonne gold
- On the back of the fresh results, Kairos is preparing to kickstart a broader 20-metre drilling campaign at Mt York in April
- Despite the positive results, investors were reluctant to get behind Kairos Minerals in early trade
- Company shares dipped 2.86 per cent into the red to trade at 3.4 cents
Pilbara gold explorer Kairos Minerals (KAI) has hit over six grams per tonne gold during a drilling campaign at WA's Mt York project.
The company's latest exploration program, completed over December last year, aimed to bridge the gaps in the company's existing mineral resources while testing mineralisation extensions.
The explorer drilled 16 holes, for 2130 metres, across the Pilbara asset, targeting the Old Faithful and Mt York deposits.
The program's best result came from Old Faithful, which returned five metres at 2.67g/t gold from 60 metres downhole. That intercept included three metres at 3.78g/t gold from 61 metres and one metre at 6.73g/t gold from 63 metres — an extension of Old Faithful's mineralisation.
Promisingly, another result from Old Faithful hints at a potential new gold lode. Hole KMYC097 — the same target which returned the program's highest gold hits — intersected eight metres at 2.09g/t from 92 metres downhole.
Meanwhile, over at the Mt York deposit, Kairos' best intersection returned four metres at 2.09g/t gold from 82 metres. The company planned to drill four holes at the deposit, but had to abandon two before they reached their planned depth due to bad weather and drilling conditions.
Ultimately, Kairos' latest assays prove mineralisation at both deposits within Mt York remains open along strike and down-dip.
Executive Chairperson Terry Topping said the team was encouraged by Mt York's latest assays.
"Considering that this was a relatively limited 16-hole program completed as the wet season was closing in, I believe we have generated an excellent return for Kairos shareholders from what was a discrete and focused program," Terry stated today.
It won't be long until further exploration gets underway at Mt York; Kairos has already set the wheels in motion for a 20,000-metre campaign, expected to kick off in April.
"This program will continue targeting extensions to the current resource areas, as well as upgrading the existing resources into higher-confidence categories," the Kairos Chair continued.
"Our strategy will be to continue to expand, de-risk and advance the Mt York Project, which is underpinned by a sizeable gold resource, in parallel with high-impact exploration targeting our priority intrusive-related gold prospects."
Despite the positive results, investors were reluctant to get behind Kairos Minerals in early trade. Company shares dipped 2.86 per cent into the red to trade at 3.4 cents at 10:50 am AEDT.