Kairos Minerals has more than doubled its Pilbara land tenure in the vicinity of DeGrey Mining’s extraordinary gold find at its Hemi project. Exploration will begin in earnest in the coming weeks with geophysics to be run over the northern tenure and drilling scheduled at the Fuego and Mt Yorke prospects in July. The new acquisition, which is adjacent to the company’s existing Croydon project, takes Kairos’ tenure in the region from 384 square kilometres to 774 square kilometres.
Kairos Executive Chairman, Terry Topping, said: “As our 2020 exploration field season continues to gear up quickly, we have taken the opportunity to expand the Croydon Project by securing these strategically located tenements immediately south-east of our current granted land-holding. This effectively doubles the size of our land holding at Croydon and gives us coverage of a highly prospective suite of rocks including the regionally significant Sisters Supersuite intrusions.”
The expansion of Kairos’ tenure comes in the wake of DeGrey Mining’s nearby Hemi gold discovery that has propelled the company from exploration minnow to market darling in a matter of months – DeGrey now enjoys a market cap of more than $650 million.
The surprise move by Kairos’ brings the company’s massive ground holdings across its broader Pilbara Gold project to over 1,700 square kilometres which encompasses six priority areas including the Skywell, Croydon, Kangan, Lalla Rookh, Wodgina and Mt Yorke prospects.
The Croydon applications cover the highly prospective ‘Sister Supersuite’ intrusions, which the company believes may host intrusive-related Hemi-Style gold discoveries. It also hosts a traditional greenstone terrane that may be prospective for conventional shear and structural-hosted deposits.
Mr Topping, said: “Evidence from the recent Hemi gold discovery suggests that the margins of these large intrusive features where they intrude granites is now highly prospective for new gold discoveries. The land package also includes… granite-greenstone rock units that are prospective for more conventional structurally hosted gold deposits. This further strengthens our extensive pipeline of exploration opportunities across the Pilbara gold district.”
The expanded tenure may also host base metal targets, whilst recent helicopter-based reconnaissance by Kairos identified pegmatite units prospective for both lithium & tantalum mineralisation.
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