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Kairos Minerals Ltd.

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Summary

Project:

Mt York

Deposit:Iron Stirrup, Old Faithful
Location:Australia
Commodities:Gold
Date:8/1/2016
Report Code:JORC
Report Type:Resource Estimation
Project Stage:Pursuing Resource Increase/Upgrade
Report details:1-8-2016: Kairos Minerals Ltd. announces a Resource Estimation report for its Iron Stirrup, Old Faithful deposit at the Mt York project. Phase 1 JORC 2012 mineral resource estimate for Iron Stirrup and Old Faithful deposits. Kairos Minerals Ltd (ASX: KAI;
Resources:(Resource, I+I): 2.782Mt @ 1.53g/t Au for 135Koz Au contained at Mt York
CP/QP:[Resources]: Christopher Speedy (Auralia Mining Consulting Pty Ltd.)
ABSTRACT:Kairos Minerals Ltd (ASX: KAI; “Kairos” or “the Company”) is pleased to advise that it has confirmed the significant gold potential of its 100%-owned Mt York Lithium-Gold Project, located 120km south-east of Port Hedland in WA’s East Pilbara region (Figure 1), after announcing an updated JORC 2012 compliant Mineral Resource estimate for the first of several historical open pits and the unmined Old Faithful deposit. The Phase 1 Mineral Resource estimate, comprising 2.8 million tonnes at an average grade of 1.53g/t for 135,000 contained ounces using a 0.5g/t cut-off, encompasses the Iron Stirrup and Old Faithful prospects – the first two historical open pits to be assessed as part of Kairos’s ongoing review of the gold resource potential at Mt York. The updated Mineral Resource was independently estimated by Auralia Mining Consulting Pty Ltd as part of a geological review and reinterpretation of the extensive historical database for the project. This work has resulted an update and re-estimation of previous resource estimates that were included as part of Kairos’ acquisition of the Mt York Project earlier this year. The Mt York Lithium-Gold Project is located 90km south-east of Port Hedland in WA’s East Pilbara region, immediately adjacent to the (ASX: PLS) World-class Pilgangoora Lithium-Tantalum Project. The main gold deposits at the Mt York Project include Main Hill, Breccia Hill, Old Faithful and Iron Stirrup. The Main Hill and Breccia Hill prospects include existing shallow open pits which were mined in the 1990s at historically low gold prices of less than US$300 per ounce. Significant depth extensions of the high-grade gold lodes beneath these pits were recently identified by Kairos from a review of historical data.

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