Join our daily newsletter At The Bell to receive exclusive market insights
- Shares in Kairos Minerals (KAI) trade green this afternoon after the junior explorer reveals two new lithium-caesium-tantalum (LCT) targets at its Wodgina Project in WA
- The targets come from a geochemical sampling program in the area from which Kairos collected over 1500 soil samples
- According to Kairos, both targets lie less than three kilometres from Mineral Resources’ (MIN) tier-one Wodgina Lithium Mine
- Kairos Chair Terry Topping says these targets will now be priorities as part of the company’s Pilbara exploration work
- Shares in Kairos Minerals are up 6.9 per cent and trading at 3.1 cents each at 12:43 pm AEDT
Shares in Kairos Minerals (KAI) are trading green this afternoon after the junior explorer revealed two new lithium-caesium-tantalum (LCT) targets at its Wodgina Project in Western Australia.
The company said it identified the targets through a geochemical sampling program in the area, from which it collected over 1500 soil samples. Kairos said it is still awaiting analysis results for over one-third of the samples collected.
Nevertheless, the data received so far has revealed two LCT targets less than three kilometres from Mineral Resources’ (MIN) Wodgina Lithium Mine, which is touted as a world-class, tier-one lithium asset.
Kairos Chair Terry Topping said today’s results exceeded the company’s expectations.
“With results received for around two-thirds of the program, we have been able to delineate two large LCT targets, one of which extends over a strike length of some 1.7km and is supported by the presence of mapped pegmatites and high-grade spodumene rock chip samples,” Mr Topping said.
“These are outstanding targets for lithium exploration and will now be prioritised as part of our broader ongoing exploration efforts in the Pilbara.”
On top of the Wodgina project, Kairos owns a major gold project in WA’s Pilbara region, which includes the 873,500-ounce Mt York project. This project is near De Grey Mining’s (DEG) Hemi discovery.
KAI’s lithium targets
The first of the new targets returned LCT anomalies with values of up to 238 parts per million (ppm) lithium, 293 ppm caesium, and 78 ppm tantalum. According to Kairos, the samples also returned coincident elevated rubidium, indium, and tungsten.
What’s more, Kairos said a historical rock chip sample collected at the eastern end of this first target returned an assay result of 1.6 per cent lithium oxide.
The second target returned coincident lithium, tantalum and rubidium anomalies, and Kairos said aerial images indicated the possible presence of pegmatites in the area.
What’s next for Kairos?
Kairos said it now planned to complete the geochemistry sampling work at the Wodgina project, and it would make a field reconnaissance trip to the second lithium target once all the results from the program were received.
Similar geochemistry work is being planned at the company’s Kangan, Skywell, Croydon, and Mt York projects.
Meanwhile, Kairos said it was still awaiting other assay results from drilling completed at Kangan and Mt York.
Shares in Kairos Minerals were up 6.9 per cent and trading at 3.1 cents each at 12:43 pm AEDT. The company has a $50 million market cap.
