Business
High-Grade Coronation Results & Klondyke Extension
High-Grade Coronation Results & Klondyke Extension.
About this update from Keras Resources Plc
[{"type":"text","content":"\n \nRNS Number : 9074R Keras Resources PLC 20 June 2018 \n\nKeras Resources plc / Index: AIM / Epic: KRS / Sector: Mining\n20 June 2018\nKeras Resources plc ('Keras' or the 'Company')\nCalidus Confirms High-Grade Coronation Results and Klondyke Depth Extension\n \nKeras Resources plc, the AIM listed mineral resource company, is pleased to confirm that Calidus Resources Limited ('Calidus'), has confirmed further high-grade results from its Coronation Prospect, and depth extensions below the Klondyke Resource, at the Company's Warrawoona Gold Project ('Warrawoona'), located in the Pilbara of Western Australia.\n \nKeras is a significant shareholder of Calidus, with a current interest of 458m shares, representing approximately 35% of Calidus' total issued share capital. On successful completion of a Pre-Feasibility Study ('PFS') at Warrawoona, an additional 265m performance shares of Calidus ('Performance Shares') owned by Keras will be converted into ordinary shares of Calidus.\n \nHIGHLIGHTS\n \n· Initial reconnaissance drilling at the Coronation target (\"Coronation\") has defined a high-grade strike of 250m adjacent to the previously released 10m @3.31g/t Au (17CRDD01) with significant intercepts including:\no 10m @ 3.84g/t Au (including 1m @ 30.4g/t Au) from 27m in 18CRRC007\no 8m @ 2.22g/t Au from 71m in 18CRR008\n· Rock chips up to 114.7g/t Au recorded on surface at Coronation;\n· Resource drill out programme of Coronation being planned for this year to add shallow high-grade ounces;\n· Deep diamond drilling extends gold mineralisation at Klondyke 150m down dip of previous drilling to 370m depth with significant intercept of:\no 2m @ 6.01g/t Au (incl 1m @ 9.39g/t Au) from 421m in hole 18KLDD010\n· Klondyke RC resource drill out progressing well, first results due within 4 weeks.\n \nRussell Lamming, Chief Executive Officer of Keras, commented, \"With a target of defining a JORC Compliant resource of +1 million ounces by the end of 2018, and consistently encouraging exploration results such as these reported today, we are confident in Calidus' ability to deli...