Kairos Minerals Accelerates Mt York Drilling with Promising High-Grade Gold Intercepts
Kairos Minerals has intensified its drilling campaign at the Mt York Gold Project, delivering encouraging high-grade gold results that bolster resource growth prospects. Concurrently, the company advances key mining and mineral rights agreements vital for project development.
- Accelerated diamond drilling at Mt York with three rigs operating double shifts
- High-grade gold intercepts confirm potential for significant resource expansion
- Negotiations progressing for mining agreement with Nyamal Aboriginal Corporation
- Pending mineral rights agreement with Pilbara Minerals to access adjacent tenements
- Cash position of $10.16 million supports ongoing exploration activities
Drilling Momentum Builds at Mt York
Kairos Minerals Ltd (ASX, KAI) has ramped up its exploration efforts at the flagship Mt York Gold Project in Western Australia's Pilbara region. During the June quarter, the company deployed three diamond drilling rigs operating on double shifts, completing 32 holes totaling nearly 9,000 meters. Early results from 16 holes reveal wide zones of gold mineralisation, including several high-grade intercepts that reinforce the project's potential to grow beyond its current 1.4 million ounce resource base.
Notably, drill hole 25MYDD017 intercepted 48 meters at 1.03 grams per tonne gold, including an 11-meter section grading 3.38 grams per tonne. These findings confirm the presence of extensive high-grade shoots within the broader mineralised envelope, a promising sign for future resource upgrades. The drilling campaign is also targeting previously underexplored areas such as the Main Hill Prospect, where historic data suggested thick, high-grade mineralisation but lacked sufficient drilling due to access challenges.
Strategic Agreements in Progress
Alongside exploration, Kairos is advancing critical agreements that underpin the project's development pathway. Negotiations continue with the Nyamal Aboriginal Corporation, representing the Traditional Owners, to finalise a mining agreement. This agreement is a prerequisite for the grant of the mining lease and essential for progressing towards production.
Additionally, Kairos is working to secure a mineral rights agreement with Pilbara Minerals Ltd (PLS) to access tenement E45/2241, which hosts an extension of the Mt York deposit known as the Main Hill Extension. Historic drilling on this adjacent tenement has returned encouraging gold intercepts, and gaining access could significantly enhance the resource base. The company anticipates signing this agreement imminently, unlocking over 360 square kilometers of exploration ground.
Financial Position and Next Steps
Kairos ended the quarter with a solid cash balance of $10.16 million, having invested approximately $1 million in drilling activities. This financial position supports the planned continuation of the Stage 1 drilling program through to September and the commencement of Stage 2 drilling in late 2025 or early 2026. The next phase aims to expand resources further across multiple prospects including Main Hill, Breccia Hill, Gossan Hill, and the newly accessible Main Hill Extension.
Meanwhile, exploration at the Roe Hills Project in the Eastern Goldfields is progressing with heritage protection agreements underway, setting the stage for future fieldwork. Kairos remains focused on advancing its portfolio with a view to delivering value-accretive growth for shareholders.
Bottom Line?
As Kairos Minerals accelerates drilling and secures key agreements, Mt York’s resource growth story is poised for a pivotal chapter.
Questions in the middle?
- How will the finalisation of the mining agreement with the Nyamal Aboriginal Corporation impact project timelines?
- What resource upgrades can investors expect once drilling on the Main Hill Extension begins?
- How might the evolving heritage protection agreements influence exploration plans at Roe Hills?