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Gold resource at Kairos' Mount York project nearly doubles to 258,000 ounces

Kairos Minerals Ltd. nearly doubled JORC-compliant resources at its Mount York project in Western Australia, about two months after posting an initial resource estimate for the property.

Indicated and inferred resources increased to 5.7 million tonnes at 1.42 g/t of gold for 258,000 ounces, which now includes the Main Hill and Breccia Hill deposits after they were reassessed, according to an Oct. 5 statement.

The initial estimate, for the Iron Stirrup and Old Faithful deposits, comprised indicated and inferred resources totaling 2.8 million tonnes at 1.53 g/t of gold for 135,000 ounces of gold.

Known deposits at Mount York cover roughly one-third of a 10-kilometer horizon, offering "outstanding potential" for new discoveries, Managing Director Joshua Wellisch said in the statement. "In addition, all of the known deposits remain open at depth and along strike and present outstanding, walk-up drilling targets," he added.

Further drilling is underway at the project, ahead of schedule, with results expected within the coming weeks.