Business
Initial High Grade Resource at Copenhagen Deposit
Initial High Grade Resource at Copenhagen Deposit.
About this update from Keras Resources Plc
[{"type":"text","content":"\n \nRNS Number : 8055W Keras Resources PLC 14 February 2017 \n\nKeras Resources plc / Index: AIM / Epic: KRS / Sector: Mining\n14 February 2017\nKeras Resources plc ('Keras' or 'the Company')\nInitial High Grade Resource at Copenhagen Deposit, Warrawoona Project\n \nKeras Resources plc is pleased to announce an initial Inferred Mineral Resource at the Copenhagen Deposit, which along with the Company's flagship Klondyke Gold Project ('Klondyke'), comprises the Warrawoona Gold Project ('Warrawoona') in the East Pilbara Gold Belt of the Pilbara Goldfield of Western Australia.\n \nOverview\n \n· Inferred Mineral Resource of 180,000t @ 6.1 g/t Au ('gold') for 36,000oz at the Copenhagen deposit\n· Total Inferred Mineral Resource Inventory for Warrawoona now stands at 5.8Mt @ 2.2g/t Au for 410,000oz\n· Resource covers 140m of strike of the area and is calculated to a maximum depth of 100m\n· High-grade resource, which could potentially be exploited using open-pit mining methods, could assist in rapid payback of the development of Warrawoona\n· Significant further upside - deposit remains open both down dip and along strike \n· Rock chips along strike show potential for significant expansion\n· Copenhagen will be a priority drill target post the proposed ASX listing\n \nKeras Managing Director Dave Reeves said:\n\"In addition to adding an high-grade gold resource to our existing resource inventory at Warrawoona, today's news also confirms our belief in the prospectivity of the wider project area as we target delineating over one million ounces of gold through further drilling. With only 300m of the known 6km of strike in the Copenhagen shear drilled, including an undrilled zone of high-grade mineralisation 3km along strike at the Coronation Project, we are keen to press on with further exploration work as soon as possible. \n \n\"Being able to generate a high-grade resource so rapidly is one of the aspects that attracted us to the Warrawoona area. Having access to high-grade, open-pittable resources is a huge benefit for any potential mining development as it assists with rapi...