Kairos Minerals (ASX: KAI) has defined a new exploration target at its Pilbara gold project south of Port Hedland containing between 4.4 million tonnes to 7.4Mt of gold bearing ore.
The exploration target, which has grades ranging between 1.5 grams per tonne gold and 1.8g/t, is located close to the company’s promising Mt York and Iron Stirrup deposits as well as to the Zakanaka prospect.
It is possible that the new target area contains extensions of the mineralisation from the historical pits at Zakanaka, the company predicts.
It includes untested greenfield exploration potential and is in addition to the current 873,500oz gold indicated and inferred mineral resource at Mt York, based on 20.9Mt at 1.3g/t.
Opportunity to increase size and grade of gold resource
The company has begun a geochemical soil sampling program to help with future target generation.
Kairos executive chairman Terry Topping said the new exploration target is an important step in defining the potential of Mt York.
It will also “give investors some insights into the opportunities we see to increase both the size and the grade of the 873,500oz mineral resource base”.
Kairos is at present engaged on a 20,000m drill program.
Mr Topping said results from the drill program will feed into an updated mineral resource for Mt York which the company is aiming to complete later this year.
“Against the backdrop of a buoyant gold price and strong outlook for the gold sector generally, the large-scale, high-quality resource base we have at Mt York provides a strong foundation for Kairos’ value proposition,” he added.
Pilbara gold project and is located 50km south of Whim Creek and 70km southwest of the huge Hemi gold discovery made by De Grey Mining (ASX: DEG).
Latest of several project extensions
This is the latest extension of the size of the project.
Last month Kairos reported that geochemical and geophysical surveys completed in 2020 at the Skywell prospect had defined multiple intrusion-related gold targets.
A total of nine new targets were generated at Skywell, with six of them associated with intrusive-style gold mineralisation.
The company says the survey results have generated “Hemi-style” targets at Skywell.
Meanwhile, Kairos says an assessment of the other areas within the Mt York project area and outside of the current gold resources has returned a number of potential new targets for drill testing.
“The combination of utilising modern exploration tools and leveraging off the extensive knowledge base built up for the Mt York project in the past few years has opened up a significant opportunity to make new discoveries,” the company noted.
Kairos is currently undertaking a large geochemical sampling program and is planning further exploration to refine these target areas for follow-up drilling.