Kairos calls in reinforcements to expand Pilbara gold nugget search
Gold explorer Kairos Minerals is widening its search in the Pilbara with three new high-priority target areas identified along a 22km stretch at their Croydon site.
The sites were identified after Kairos (ASX:KAI) enlisted the help of former Novo Resources and Creasy Group geologist George Merhi to review new areas with detailed mapping, rock chip sampling, soil sampling and metal detecting.
Mr Merhi will travel to the Pilbara this week to oversee logistics and preparations for the new program, bringing his 21 years of experience in the region, Kairos told investors.
Kairos holds 1158 sq km in the Pilbara and has recently confirmed the presence of at least 100km of potential conglomerate gold discoveries.
The company hope to tap into the Pilbara gold rush with similar ‘Withwatersrand-style’ gold mineralisation to those associated with high-profile gold discoveries by Novo and Artemis Resources (ASX:ARV).
Witwatersrand refers to the Witwatersrand Basin in South Africa — a geological formation that houses the world’s biggest known gold reserves, producing 2 billion ounces or about half of gold ever mined.
The Karratha area sits on a group of sedimentary and volcanic rocks called the Fortescue basin, which Artemis, Novo and other nearby explorers hope will be just as generous in its gold output.
Due to the remoteness of the new target areas, the search will be conducted by helicopter, as well as an ongoing field program sampling soil and stream sediment.
Last month Kairos shares soared as much as 187 per cent to a 52-week high of 8.9c, after announcing it would kick off a maiden exploration program following confirmation of gold at its Pilbara portfolio.
Kairos shares were trading slightly lower at 6.5c on Monday morning.