Kairos Minerals strikes more gold at Mt York, extends Old Faithful mineralisation

Kairos Minerals (ASX: KAI) has struck gold in multiple intercepts from drilling at its Mt York gold project in Western Australia’s Pilbara region.

The company has now received all assays from a 16-hole for 2,130m drilling program completed in December at Mt York and the Old Faithful deposits within the Mt York gold project.

Assays are from 4m composite samples with 1m samples to be collected once the Pilbara weather improves.

Highlight results from the Old Faithful deposit were 5m at 2.67 grams per tonne gold from 60m, including 1m at 6.37g/t gold from 63m; 12m at 1.02g/t gold from 44m, including 4m at 2.13g/t gold from 44m; and 12m at 1.32g/t gold from 28m.

Over at the Mt York deposit, drilling hit 4m at 2.09g/t gold from 82m.

The drilling program had been designed to test extensions to known mineralisation and infill the existing mineral resource which totals 873,500 ounces of contained gold.

Kairos noted the results confirm and extend the near surface gold mineralisation while also identifying a new lode at Old Faithful.

Mineralisation at both deposits remains open along strike and down-dip.

Kairos executive chairman Terry Topping said the company was “very encouraged” by the results – particularly at Old Faithful where several mineralised extensions have been discovered.

Advancing Mt York

Kairos is now planning to kick-off a 20,000m follow-up drilling program in April at the project.

Mr Topping said the program will target extensions to the current resource areas, as well as upgrading it into higher confidence categories.

“We’re also planning several holes to test key targets outside of the resource areas, including Zakanaka, Iron Stirrup South, Gilt Dragon and Green Creek.”

He added the results will feed into initial mining studies for the project which are already underway.

“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.”

Mt York has a history of previous production – generating 125,493oz of gold between 1994 and 1998.

In addition to previous production, the project has what Kairos describes as “outstanding” infrastructure in the “heart of the Pilbara”.