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Calidus Launches Drill Campaign at Warrawoona
Calidus Launches Drill Campaign at Warrawoona.
About this update from Keras Resources Plc
[{"type":"text","content":"\n \nRNS Number : 5479J Keras Resources PLC 20 August 2019 \n\nKeras Resources plc / Index: AIM / Epic: KRS / Sector: Mining\n20 August 2019\nKeras Resources plc ('Keras' or the 'Company')\nCalidus Resources Launches Drilling Campaign\n \nKeras Resources plc, the AIM listed mineral resource company, notes the announcement published today by Calidus Resources Limited (ASX:CAI) ('Calidus'), outlining the launch of a major drill programme in order to increase life of mine ('LOM') at Calidus' flagship asset; the 1.25Moz Warrawoona Gold Project (the 'Project') in the Pilbara region of Western Australia. A 15,000-metre drilling campaign will target greenfield mineralisation, resource extensions and continue to de-risk the Project through infill drilling.\n \nCalidus recently completed an AUD$9 million placement involving institutional shareholders which will fund this drilling campaign. Following the placement Keras holds a c.33.8% interest in Calidus. \n \nHighlights\n· A major drilling campaign comprising Reverse Circulation ('RC') and diamond drill rigs has commenced at Calidus' 1.25Moz Warrawoona Gold Project\n· The campaign aims to both improve confidence and expand the mine life outlined in the recent pre-feasibility study ('PFS')\n· The programme includes:\no 6,500m of RC and core drilling, infilling proposed underground resources at the Klondyke deposit \no 3,900m of RC drilling at Klondyke, aiming to convert Indicated to Measured Resources during initial years of production (as per PFS)\no 1,600m of shallow RC drilling at Klondyke East, aimed at expanding pit limits\no 3,000m of RC drilling at Klondyke West, testing a number of high-priority regional exploration targets\no The drilling will be funded by the proceeds of Calidus' recent $9m share placement \n· Calidus is well positioned to execute its strategy to undertake ongoing exploration in parallel with delivering a Definitive Feasibility Study in Q3 2020\n \nRussel Lamming, CEO of Keras Resources, commented, \"Following Calidus' successful capital raising of AUD$9 million, it is using the funds to accelerate drilling programmes over the Project, aimed towards defining and capitalising on the huge potential upside at Warrawoona....