Business
Calidus Resources - Potential Resource Upgrade
Calidus Resources - Potential Resource Upgrade.
About this update from Keras Resources Plc
[{"type":"text","content":"\n \nRNS Number : 1110H Keras Resources PLC 30 July 2019 \n\nKeras Resources plc / Index: AIM / Epic: KRS / Sector: Mining\n30 July 2019\nKeras Resources plc ('Keras' or the 'Company')\nCalidus Resources - Potential Resource Upgrade and Excellent Drill Results\n \nKeras Resources plc, the AIM listed mineral resource company, notes the announcement today by Calidus Resources Limited (ASX:CAI) ('Calidus').\n \nExcellent drill results, including intercepts of up to 1m @ 107.16g/t Au from 36m, were returned from recent infill drilling inside and adjacent to the Klondyke Prospect ('Klondyke'), underpinning a potential resource upgrade. Klondyke is located in the centre of Calidus' 1.25 million-ounce JORC compliant gold resource at the Warrawoona Gold Project ('Warrawoona' or the 'Project') in the Pilbara of Western Australia. Following the recently completed PFS, Calidus is now focusing on de-risking and extending the life of mine at Warrawoona through the addition of a second drill rig at the mine.\n \nHighlights\n· Infill drilling inside and adjacent to the Pre-Feasibility Study ('PFS') Klondyke open pit shells delivered outstanding results which include:\no 13m @ 11.1g/t Au from 30m, including 1m @ 107.16g/t Au from 36m \no 13m @ 5.58g/t Au from 46m \no 10m @ 6.81g/t Au from 47m, including 1m @ 50.77g/t Au from 49m\no 22m @ 2.13g/t Au from 19m \no 5m @ 3.16g/t Au from 126m \n· As a sequential step following the positive results delivered in the PFS (announced 17 July 2019), emphasis has now been placed on upgrading the category of the resource to allow additional reserves to be declared\n· The results will also provide detailed knowledge of the orebody for accurate grade modelling \n· To achieve this, a 12,000m drilling programme is now underway \n \nRussell Lamming, Chief Executive Officer of Keras, commented, \"The receipt of these outstanding drilling results for Calidus signifies a very positive development and paves the way towards upgrading the resource at Warrawoona, a significant milestone for Calidus. Following the completion of the PFS, Calidus continues work towards extending the life of mine as well as carrying out project enhancements to further de-risk the...