Kairos Minerals Ltd (ASX:KAI, OTCQB:KAIFF) earlier this week sat down with Proactive to discuss the results of the first 16 holes from an 80-hole drilling campaign at its Mount York Gold Project in Western Australia.
Highlights
- Kairos Minerals has released results from the first 16 holes of an 80-hole drill campaign at the Mount York Gold Project.
- The program aims to upgrade and expand the resource at Mount York.
- Early results include high-grade intercepts such as:
- 48m @ 1.03 g/t gold (incl. 11m @ 3.38 g/t)
- 21m @ 1.87 g/t gold (incl. 9m @ 3.19 g/t)
- Dr Peter Turner noted the emergence of high-grade zones above the current resource grade.
- The Mount York deposit spans a continuous 3km zone and may extend an additional 1.5km.
- Kairos is targeting a 2 million ounce resource, supported by strong board alignment and funding.
- The company is close to completing a mineral rights agreement and progressing a mining agreement with the Njamal traditional owners.
- Further drill results and corporate updates are expected over the next 3 to 6 months.
Increasing the resource
The program is designed to increase the project's existing resource, with current drilling representing around 20% of the full campaign. Key intercepts included 48.00 metres at 1.03 grams per tonne gold, including 11.00 metres at 3.38 grams per tonne, and 21.00 metres at 1.87 grams per tonne, including 9.00 metres at 3.19 grams per tonne.
Dr Turner highlighted that Mount York hosts a three-kilometre-long mineralised zone, which remains open for expansion. The company said this mineralisation is unusual in its continuity and suitability for a single open pit, and it has started to identify higher-grade zones exceeding the current resource grade.
The company told investors it is aiming to grow its current 1.40 million-ounce gold resource. The board has set a 2 million-ounce target and confirmed it is fully incentivised toward that goal. Kairos said it sees resource growth as the most effective way to build shareholder value and has allocated its capital accordingly.
Expansion strategy
As part of its expansion strategy, Kairos Minerals completed a land deal in late 2024 with a northern neighbour, bringing in AU$20 million in staged payments — AU$10.00 million already received and the balance expected by year-end. The company said mineralisation likely extends at least 1.50 kilometres onto this adjoining ground, which is not yet included in the current resource inventory.
The company also said it is progressing both a mineral rights agreement and a mining agreement with the Njamal traditional owners. It expects further updates on these fronts in the near term.
Kairos Minerals indicated that additional drill results and corporate milestones will be shared over the coming months, with the drilling campaign expected to continue through September.