Kairos Minerals Ltd (ASX: KAI) has commenced a 1,500m Reverse Circulation (RC) drilling programme targeting extensions of the Iron Stirrup gold deposit, part of the 643,000oz Mt York Project within its 100%-owned Pilbara Gold Project in WA.
Kairos’ Executive Chairman, Terry Topping, said the drilling is targeting depth and strike extensions of the existing Iron Stirrup Mineral Resource of 1.07Mt at 1.94g/t Au for 67,000 ounces.
The programme is expected to take approximately two weeks to complete, with assay results expected to be reported early in the New Year.
“After what has been a long and successful field season at the Croydon Project, we are really pleased to have an RC drill rig back in the field and operating at the 643,000oz Mt York Project,” Mr Topping said.
“The current program will target extensions of the higher grade Iron Stirrup deposit, that was last mined in the 1990s in a much lower gold price environment as part of the historical Lynas Find operation. The two-week program will target extensions of the mineralisation at depth and along strike below the historic open pit, with results expected early next year.”
The Iron Stirrup drilling program is expected to form part of a much larger exploration push at Mt York next year. The results of the current drilling will be incorporated as part of a review of the current 643,000oz Resource that is already underway.
“This will, in turn, underpin mining studies commencing in Q1 next year. In addition to reviewing the mining potential at Mt York, we plan to return to the Croydon Project next year to test the large gold-in-soils anomaly identified recently and advance other recently identified opportunities at the Kangan Project and elsewhere.”
Kairos’s 100%-owned project tenure at Mt York is situated immediately east of Pilbara Minerals’ and Altura Mining’s lithium projects, which have recently commenced operations, and comprises 12 Prospecting Licences (P45/2987-2998 inclusive).
The Mt York Gold deposit (Main Hill, Breccia Hill, Gossan Hill) and Iron Stirrup Gold deposit is secured by tenements P45/2994, P45/2991, P45/2992 and P45/2995, which occur entirely within the Wallareenya Pastoral Lease.