Kairos Minerals Unveils Promising Gold Anomalies at Roe Hills Project
KAI (KAI) Share Update July 2024 Monday 29th
Kairos Minerals Identifies New Gold Anomalies at Roe Hills Project
Kairos Minerals Ltd (ASX:KAI) has announced the discovery of several new gold anomalies at its Roe Hills Project in the Eastern Goldfields, following an extensive auger sampling program.
Instant Summary:
- 990 auger samples analyzed over a 10 km geological strike.
- Several new kilometre-scale gold anomalies identified.
- High niobium anomalies suggesting potential buried granitic pegmatites or intrusions.
- Future field checking and possible infill sampling planned.
Auger Sampling Results
Kairos Minerals Ltd has reported the results of 990 auger samples collected over the southern extension of the Roe Hills tenements. The samples were analyzed at ALS Laboratory in Perth for gold, base metals, and lithium-suite elements. The sampling program was designed on a reconnaissance 400m x 100m grid to collect information from areas of shallow cover deemed geologically prospective for shear-hosted gold and lithium pegmatite mineralization.
Broad, low-level gold anomalies (>15ppb Au) were identified trending south and south-southwest of the Greyhound Prospect, which will require field-based investigations for buried gold mineralization. The main anomaly has a higher-grade core of >30 ppb Au and can be traced over at least 4 auger lines spaced 400m apart, covering a strike length of over 1,200 meters.
Additional Findings
A distinct northeast trending >10ppb gold anomaly was identified at the Broken Shoe Prospect. This orientation is coincident with interpreted cross-cutting fault structures, which may be prospective for gold mineralization. Minor lithium pathfinder anomalism was also identified at Broken Shoe with coincident caesium (Cs > 3.5ppm) and tantalum (Ta > 1ppm) anomalism. Although no corresponding lithium anomalism was identified, the area will be investigated further for potential lithium pegmatites.
Next Steps
Kairos Minerals plans to conduct field checks on the Roe Hills South auger targets for gold and lithium. Additionally, the company will assess Stage II Roe Hills REE metallurgical flow-sheet and progress with test work, provide support to GR Engineering in the completion of the Mt York Scoping Study, and continue negotiations with interested parties regarding the advancement of the Mt York Gold Project. Other activities include receiving, collating, and reviewing Lalla Rookh soil sample results, continuing staged field mapping at the Pilbara regional projects, and reviewing new projects that are value-accretive for shareholders.
The discovery of new gold anomalies at Roe Hills is a positive development for Kairos Minerals. These findings could significantly enhance the company's exploration prospects and potentially lead to new gold discoveries. The identification of high niobium anomalies also suggests the presence of buried granitic pegmatites or intrusions, which could further boost the project's value. Investors may react positively to this news, anticipating future resource expansions and increased project viability.
Investor Reaction:
Analysts are likely to view the discovery of new gold anomalies as a promising sign for Kairos Minerals. The company's proactive approach to field checking and possible infill sampling indicates a commitment to thoroughly exploring and developing the Roe Hills Project. While the immediate market reaction may be cautiously optimistic, the long-term potential for resource growth and project development could drive positive sentiment among investors.
Conclusion:
Investors should keep a close eye on Kairos Minerals' ongoing exploration activities at the Roe Hills Project. The discovery of new gold anomalies and high niobium anomalies presents exciting opportunities for future resource development. By staying informed and monitoring the company's progress, investors can make well-informed decisions about their investment strategies.