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Kairos Minerals Ltd.
Summary
| Project: | Mt York | |
|---|---|---|
| Deposit: | Mt York | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 5/23/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 23-5-2018: Kairos Minerals Ltd. announces a Resource Estimation report for its Mt York deposit at the Mt York project. Updated mineral resource estimate at project. Kairos Minerals Ltd (ASX: KAI) is pleased to announce a further significant increase in Mi | |
| Resources: | (Resource, I+I): 14.415Mt @ 1.39g/t Au for 643Koz Au contained | |
| CP/QP: | [Resources]: Steve Vallance, Terry Topping (Internal) | |
| ABSTRACT: | Kairos Minerals Ltd (ASX: KAI) is pleased to announce a further significant increase in Mineral Resources at its 100%-owned Pilbara Gold Project in the northwest of WA (Figure 1), with recent drilling more than doubling the contained gold at Mt York from the previously reported 258,000 ounces to 643,000 ounces. The updated Resource for these centrally located deposits, including Mt York, Iron Stirrup and Old Faithful, brings the global Mineral Resource estimate at the Pilbara Gold Project to: Kairos Executive Chairman Terry Topping said: “This is a great result which firmly cements Kairos’ position as a significant player in the Pilbara gold scene. The maiden drilling programs completed late last year have confirmed that the zone of BIF-hosted gold mineralisation at Mt York is continuous between the previously mined Breccia Hill and Main Hill shallow open pits, and extends for at least a further 1km to the east to Gossan Hill. “The upgraded 486,000oz Resource at Mt York encompasses three contiguous deposits in Main Hill, Breccia Hill and Gossan Hill, extending over a strike length of 3.5km and to a depth of 150m. The Resource remains open in most directions, and there is clear potential to add further ounces both along strike and at depth – including the opportunity to target higher grade zones at depth. “After acquiring the Mt York Prospect in early 2016, we were able to quickly establish a significant maiden Resource of 258,000oz based on a thorough evaluation of the historical work and a reinterpretation of the geology at each of the deposits. We have now more than doubled that Resource through focused, cost-effective exploration, and I am confident that we can continue to grow it rapidly – establishing a gold project of significant scale and potential right on the doorstep of a major new lithium mining centre at Pilgangoora. This result is a credit to the vision and hard work of our exploration team, and I would like to thank them for their efforts in getting the project to this stage.” | |
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