Kairos Minerals Ltd (ASX:KAI) is set to commence the maiden field exploration targeting the conglomerate-hosted gold potential of its extensive Pilbara lithium-gold portfolio in Western Australia.
The company’s shares were trading 6% higher intra-day, at $0.07.
Kairos’ tenement portfolio is located adjacent to the recent gold discoveries revealed by Artemis Resources (ASX:ARV), Novo Resources (CVE:NVO) and De Grey Mining (ASX:DEG).
The company holds 1,158 square kilometres of tenure in this region, which has recently experienced a significant increase in exploration activity targeting conglomerate-hosted gold discoveries.
The exploration field crew is currently mobilising to site to begin systematic quad bike-assisted soil and stream sediment sampling and prospecting.
This will be carried out across circa 100 kilometres strike length of the highly prospective lower Fortescue Group Rocks, including the basal Mount Roe Basalt, within the tenement portfolio.
Kairos’ exploration will focus initially on areas where the target stratigraphy coincides with areas of known historical gold mining activity.
The company will initially focus on the Croydon Prospect, where it recently mapped thick sequences of the targeted conglomerate stratigraphy in close proximity to one of the major historical alluvial gold mining centres of the Pilbara in the late 19th century.
Phase 1 of the program is expected to take 3-4 weeks to complete.