Kairos conducts highly anticipated drilling program at Fuego
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
Shares in Kairos Minerals Ltd (ASX:KAI) opened 8% higher on Wednesday morning after management provided details regarding a major program of reverse circulation (RC) drilling that has commenced at its Pilbara Gold Project in Western Australia.
The program comprises 5,000 metres of RC drilling in total, and it has commenced at the large Fuego gold target, part of the Croydon Project, with the initial reconnaissance program expected to be completed over the next 2-3 weeks while drill pad preparations are completed at the Mt York Project.
A rig is currently operating on site at Fuego, with a total of up to 12 widely spaced reconnaissance holes planned to be drilled in this first-pass program.
The rig will then relocate to Mt York to complete the balance of the program.
The company has also received data from the magnetic and radiometric surveying and soil sampling at the Kangan Project that will assist management in shaping its exploration program and generating new targets.
The location of the broader Pilbara Gold Project (see Mt York, Iron Stirrup and Old Faithful deposits to the north-east), as well as the Fuego prospect and Kangan Project can be seen below.
Breaking new ground at Fuego
Prior drilling has not been conducted at the Fuego prospect, and the targets are supported by strong geochemical anomalies coincident with magnetic features defined by Kairos’ recent airborne geophysical survey.
Consequently, drilling at Fuego is much anticipated as there is the potential for a new discovery which would enhance Kairos’ already strong position in the Pilbara.
The RC program at Mt York is now anticipated to commence in mid-September, and it will start at the Mt York deposit to test the north-west extension of the mineralisation.
Only one historical hole has been drilled over this target area within Kairos’ ground.
Pilbara Minerals (ASX: PLS) holds the adjacent ground to the west and the company recently conducted an RC drilling program to test gold mineralisation similar to Kairos’ Mt York deposit.
Hole MYRC007 returned an intercept of 16 metres at 2.43 g/t gold from 16 metres.
This hole is only 1.2 kilometres from Kairos’ Mt York Mineral Resources, and it is within the same geological setting.
The RC drilling program is designed to test targets at Mt York, Iron Stirrup and Old Faithful deposits, as well as the Green Creek and Zakanaka prospects.
All in all, Kairos is shaping up as a news-driven story during the upcoming drilling campaign, indicating that this morning’s share price momentum may be a result of investors getting set ahead of the multiple potential share price catalysts that are in the pipeline.
General Information Only
S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.
