Kairos Minerals (ASX:KAI)
Kairos Minerals (ASX:KAI) continues to deliver the results at its Western Australian-based highly prospective Roe Hills cobalt Project.
Today, KAI announced that its maiden aircore drilling program has confirmed extensive, shallow high-grade cobalt mineralisation.
Importantly, it has discovered mineralisation up to 1.36% Cobalt. That figure is exceptionally high compared to most other nickel-cobalt oxide deposits in WA and also around the world.
KAI will now undertake a follow up Aircore drilling program later this year to test extensions of the Roe-1 cobalt prospect, so we can expect a raft of newsflow before the end of the year.
The Roe Hills Project could be a potentially strategic asset for KAI, especially as the cobalt market looks to have hit is straps.
Cobalt has been one of the strongest performing metals of 2017, driven by surging demand from the new energy sector and KAI looks to be in prime position to capitalise.
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KAI will continue its forward momentum with a follow-up drill program that will test immediate extensions of the deposit and provide a first-pass test for other priority cobalt prospects.
With plenty of newsflow to come, KAI’s current $6 million market cap could be under threat of a significant increase.
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