PERTH (miningweekly.com) – Junior Kairos Minerals has doubled the size of its reverse circulation campaign in the Pilbara, following a A$9-million capital raise.
The ASX-listed Kairos in September completed the landmark capital raise, placing 180-million shares at a price of 5c each.
“Thanks to the recently completed A$9-million capital raising, we are in a position where we can really make the best possible use of the remaining time between now and the onset of the northern field season,” said Kairos executive chairperson Terry Topping.
“With drilling now complete at Fuego, we have decided to expand the programme at Croydon by drilling an initial 1 500 m programme using the same rig at the exciting Tierra prospect to test the gold targets we have defined previously, which have coincident geochemical and geophysical signatures.
“The reverse circulation rig will then move to Mt York to drill a 5 000 m targeting extension of the Mt York, Iron Stirrup and Old Faithful deposits. In total, this will increase the size of the reverse circulation programme to some 10 000 m.”