Late last week, Kairos Minerals Ltd provided an update on its Mt York Gold Project in the Pilbara, outlining growth plans and upcoming exploration activity.
Highlights
- Mt York is a 1.4 million ounce gold project in WA’s Pilbara region.
- Mineralisation is largely hosted in a single open pit with clean metallurgy.
- Continuous mineralisation across a 3km corridor (Main Hill, Breccia Hill, Gossan Hill).
- Funded with A$12.4 million in cash and A$10 million expected from Pilbara Minerals deal.
Upcoming 20,000–30,000 metre drill program aims to:
- Expand total resource beyond 1.4Moz.
- Upgrade inferred to indicated resources.
- Target higher-grade pods discovered in 2022.
- Main Hill extension includes 1.5km of additional mineralisation from Pilbara Minerals.
- Resource update anticipated in 2025.
Kairos said the project currently hosts a 1.40 million ounce gold resource, largely contained in a single open pit. It highlighted the clean metallurgy and noted the potential for substantial resource growth.
Kairos told investors that mineralisation extends continuously across a three kilometre trend encompassing Main Hill, Breccia Hill, and Gossan Hill. The company said it can intercept gold mineralisation at any point along this corridor.
The upcoming 20,000–30,000 metre drilling program will target both resource expansion and resource category upgrades. The company intends to convert inferred resources to indicated by drilling deeper and along strike, and will also test higher-grade zones identified in late 2022.
Well funded to drill
Funding for this work is in place. Kairos has A$12.40 million in the bank and expects a further A$10.00 million from a 2024 agreement with Pilbara Minerals. The company said this funding supports the drill program and progress towards feasibility.
A key focus is the Main Hill extension. Kairos said it has signed a deal with Pilbara Minerals to access an additional 1.5 kilometres of strike to the north. It said this ground hosts known mineralisation and will be tested with detailed diamond drilling. These zones are not currently included in the company’s resource estimate.
Managing director Dr Peter Turner said: “We think the news flow that's going to come through this year is really going to change the way people have previously seen Kairos.”
The right moment
Turner added that 2025 may represent a turning point for the company: “From what I understand, ‘kairos’ means the right moment or the opportune moment. We feel that 2025 is probably our kairos moment.”
The company said a new resource estimate is expected in 2025, following the drill campaign. It also encouraged viewers to watch its updated corporate video for further details on project scope and company valuation.