Business
Calidus Announces 74% Increase in Resource
Calidus Announces 74% Increase in Resource.
About this update from Keras Resources Plc
[{"type":"text","content":"\n \nRNS Number : 6085Z Keras Resources PLC 18 December 2017 \n\nKeras Resources plc / Index: AIM / Epic: KRS / Sector: Mining\n18 December 2017\nKeras Resources plc ('Keras')\nCalidus Announces 74% Increase in Resource to 712,000 ozs Au\n241,250,000 Ordinary Calidus Shares Issued to Keras on conversion of Performance A Shares\n \nKeras Resources plc, the AIM listed mineral resource company, is pleased to provide an update following an announcement published by Calidus Resources Limited ('Calidus'). Calidus has announced a substantial increase in Mineral Resources and conversion of Inferred Mineral Resources to Indicated Mineral Resources at the Company's Warrawoona Gold Project located in the Pilbara of Western Australia (the \"Warrawoona Project\").\n \nThe total Mineral Resource at the Warrawoona Project, reported and classified in accordance with the JORC Code (2012) is 10.5 Mt at a grade of 2.11 g/t gold (Au) and contains 712,000 ozs Au. This has triggered the milestone for the conversion of 241,250,000 Performance A Shares held by Keras in Calidus to ordinary shares in Calidus.\n \n HIGHLIGHTS\n \n· Total Mineral Resource, reported and classified in accordance with the JORC Code (2012) is 10.5 Mt at a grade of 2.11 g/t gold (Au), containing 712,000 ozs Au, an increase of 74% over the previous estimate\n· Maiden Indicated Mineral Resource of 8.4 Mt at a grade of 2.01 g/t Au for 541,000 ozs Au\n· Conversion of 241,250,000 Performance A Shares held by Keras to ordinary shares in Calidus \n· Resource provides a solid base for further resource expansion in the coming year\n· Well-funded post the recent AU$10m capital raise\n· Calidus has received Exploration Incentive Scheme Grant of A$140,000 to conduct deeper drilling at Klondyke \n \nTable 1: Mineral Resource Estimate - Warrawoona Gold Project \n\n\n\n\nDeposit\n\n\nCut-off\n\n\nIndicated\n\n\nInferred\n\n\nTotal\n\n\n\n\nAu g/t\n\n\nMt\n\n\ng/t Au\n\n\nOzs\n\n\nMt\n\n\ng/t Au\n\n\nOzs\n\n\nMt\n\n\ng/t Au\n\n\nOzs\n\n\n\n\nKlondyke\n\n\n0.5\n\n\n8.2 \n\n\n2.02\n\n\n532,000 \n\n\n1.7 \n\n\n2.25 \n\n\n122,000 \n\n\n9.9 \n\n\n2.06 \n\n\n 654,000 \n\n\n\n\nCope...