Pilbara explorer Kairos Minerals (ASX: KAI) has pinpointed four “significant” new gold targets at its wholly-owned Kangan project in Western Australia’s north, including one large target located near a new major gold discovery.
The targets were identified from recent soil geochemistry and aeromagnetic data and include a large anomaly defined by a north-south structure that is similar to major regional structures adjacent to the Hemi deposit, discovered 20km away by De Grey Mining (ASX: DEG) in late 2019.
Kairos executive chairman Terry Topping said this large target sits in a “geologically favourable position” for potential intrusive-hosted gold discoveries.
The company’s recent announcements have related to a 5,000m reverse circulation (RC) drilling program currently underway at its Fuego prospect, part of the nearby Croydon project, with plans to drill at the Mt York project next.
But in light of the new discoveries, Kairos has decided to prioritise an initial aircore drilling program to test the Kangan targets next quarter.
“We plan to commence heritage surveys with a view to testing these new targets as soon as possible, clearing the way for initial aircore drilling in October/November this year,” Mr Topping said.
Drilling is still expected to continue at Fuego in the meantime.
In today’s announcement, Kairos provided an update on its current RC drilling program at the Fuego prospect, located within the Croydon project about 120km south of Port Hedland, WA.
To date, the company has completed eight RC holes for a total 1,424m at Fuego with 365 samples dispatched to Perth for gold and multi-element assays. The results of the first batch of assays are expected in late September.
A ground-based geophysical program was also recently completed for Fuego, as well as the Iron Stirrup and Old Faithful prospects within the Mt York project. Data processing and interpretation is underway.
Once drilling at Fuego is completed, the rig will be moved to the Mt York project where drill pads are already prepared.
The heritage survey and aircore drilling at Kangan is then expected to follow.