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Kairos Minerals Ltd.
Summary
| Project: | Mt York | |
|---|---|---|
| Deposit: | Mt York | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 2/10/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 10-2-2017: Kairos Minerals Ltd. announces an Exploration/Drilling Update report for its Mt York deposit at the Mt York project. Drilling results incl. 11.16m @ 1.44g/t Au from 171.3m. Kairos Minerals Limited (ASX: KAI; Kairos or the Company) is pleased to | |
| Resources: | (Resource, I+I): 5.692Mt @ 1.42g/t Au for 258Koz Au contained at Mt York | |
| CP/QP: | [Overall Report]: Steve Vallance (Internal) | |
| ABSTRACT: | Kairos Minerals Limited (ASX: KAI; Kairos or the Company) is pleased to advise that its maiden diamond drilling program at the 100%-owned Mt York Gold-Lithium Project (see Figure 1) in WA has returned positive new results, demonstrating that the gold system is significantly larger than previously thought. The results – from wide-spaced reconnaissance diamond drilling to test for BIF-hosted gold mineralisation along strike below and down-plunge of the Main Hill and Breccia Hill gold deposits has – confirmed the presence of multiple stacked lodes of gold mineralisation up to 200m below the known resources. The discovery of multiple stacked lodes at Mt York highlights the potential to expand the JORC 2012 compliant Indicated and Inferred Mineral Resource for the Mt. York Project currently totalling 5.692Mt @ 1.42 g/t gold for 258,000 ounces of contained gold. The near-surface oxide zones of the deposits were partially mined historically by Lynas Gold NL in the mid- 1990s as a series of shallow open pits to a maximum depth of only about 30m in conjunction with mining of the Iron Stirrup gold deposit, located further to the north. Mining operations ceased as the result of a protracted period of record low world commodity prices. This opens up a significant exploration opportunity for Kairos Minerals in the current strong gold price environment. | |
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