Kairos Minerals (ASX: KAI) has uncovered what it says is an “exceptionally high-grade gold zone” at its Mt York deposit, which is part of the wider Pilbara gold project in Western Australia.
Drilling at the 873,500 ounce Mt York deposit has led to the discovery of a new gold zone, which remains open at depth.
The zone is located in “The Gap” between Main Hill and Breccia Hill historic workings.
Drilling returned an “outstanding” new high-grade intercept of 32m at 3.79 grams per tonne gold from 124m, including 16m at 6.62g/t gold from 132m, and 4m at 15.7g/t gold from 144m.
The company noted the intercept was the best in the company’s history of drilling at Mt York where 1,041 holes for 46,000m has been completed.
Kairos executive chairman Terry Topping said this discovery was a “fantastic result” and highlights the “enormous opportunity” Mt York represents.
“Intersecting such a standout zone of 32m at 3.79g/t at a brownfields project with existing resources of over 873,500oz is a really exciting development.”
“This provides clear evidence that there is still huge exploration upside at Mt York.”
Mr Topping noted the new zone is “significantly higher-grade” than the company had seen elsewhere at the project, adding it indicating the potential of underground mining below the shallow open pits.
Follow up work
By the 20 August, 87 holes had been drilled at Mt York for 12,876m. The program has been paused while Kairos awaits assays and plans further drilling.
Kairos expects the rig will be back at Mt York to resume drilling by the end of this month.
As well as the positive results from The Gap area, Kairos is “eagerly awaiting” assays from a number of new areas drilled in recent weeks.
In the coming months, Kairos plans to undertake mining studies on Mt York along with heritage surveys. It is also awaiting geochemistry sampling results.