Kairos Minerals generates ‘encouraging’ drill results from Caliburn gold prospect at Roe Hills project
Kairos Minerals (ASX: KAI) has unearthed “encouraging” drill results from a recent campaign at the Roe Hills project
16th July 2021
Resources Rising Stars
Kairos Minerals (ASX: KAI) has unearthed “encouraging” drill results from a recent campaign at the Roe Hills project, with the program uncovering shallow gold mineralisation close to Silver Lake Resources’ (ASX: SLR) French Kiss operation (reports Small Caps).
The gold mineralisation was intercepted at the Caliburn prospect with best intercepts of 8m at 1.32 grams per tonne gold from 32m, including 4m at 2.29g/t gold from 36m; 16m at 1.27g/t gold from 80m, including 4m at 3.17g/t gold from 84m; and 16m at 1.36g/t gold from 80m, including 4m at 3.9g/t gold from 92m.
Kairos executive chairman Terry Topping described the results as “encouraging” saying they highlight the opportunity to delineate shallow open pit resources close to French Kiss, which is only 5km away.
He added there was also adjacent haul road with the project also located in a broader active mining region.
“We can make a compelling strategic case to return to this area with further drilling in the near future.”
The company plans to complete follow up drilling at Caliburn to potentially define a resource.
“In the meantime, three-dimensional modelling work has commenced on existing drill data from the Caliburn, Lingering Kiss, Terra and Lady of the Lake prospects to underpin a maiden resource estimate.”
“This will give us a good idea of the commercial potential of this project,” Mr Topping explained.
As well as Caliburn, Kairos also completed drilling at Black Cat and Talc Lake prospects.
At Black Cat, assays have revealed the potential for a volcanogenic massive sulphide (VMS) base metal system.
Highlight intervals were 4m at 1.63g/t gold from 48m and 20m at 0.42% zinc.
Mr Topping said the VMS zones at Black Cat warranted further evaluation – particularly in light of a nearby soil anomaly.
Over at the Talc Lake prospect, drilling uncovered narrow nickel-copper sulphide zones.
Notable intercepts from this area were 5m at 0.55% nickel and 0.15% copper from 96m, including 1m at 1.33% nickel and 0.45% copper from 99m; and 8m at 0.14% cobalt from 24m, including 4m at 0.22% cobalt from 24m.
Mr Topping said the company would evaluate its next steps at Talc Lake once it has received the final 1m assays results.
Across Caliburn, Black Cat and Talc Lake, Kairos completed 20 holes for 2,992m.
Advancing Mt York gold project
Meanwhile drilling is continuing at Kairos’ Mt York target, which is part of the wider Pilbara gold project with 873,000oz of contained gold resources in the WA’s Pilgangoora district.
Mr Topping said drilling at Mt York was “making great progress” with 10,000m already completed.
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