Keras Resources PLC Calidus Reports High-Grade Intercepts (1265O)
16 August 2017 - 4:00PM
UK Regulatory
TIDMKRS
RNS Number : 1265O
Keras Resources PLC
16 August 2017
Keras Resources plc / Index: AIM / Epic: KRS / Sector:
Mining
16 August 2017
Keras Resources plc ('Keras')
Calidus Reports High-Grade Intercepts including: 6m @ 63.31g/t
Au (incl 2m @ 182.57g/t Au)
Keras Resources plc, the AIM listed mineral resource company, is
pleased to provide an exploration update following an announcement
published by Calidus Resources Limited ('Calidus'), in which Keras
holds a 31% interest. Calidus continues to intercept gold
mineralisation across significant widths at its flagship Warrawoona
Gold Project, located in the Pilbara of Western Australia.
Calidus' current drilling campaign is intended to support a
significant resource upgrade in Q4 2017 with a large portion of
this updated resource estimate forecast to be in the Indicated
category. As previously announced, once an Indicated Resource of at
least 500,000oz is declared, Keras will receive 241.25m Ordinary
Shares in Calidus[1], which will increase Keras' holding to 50% of
Calidus' total issued share capital based on the number of shares
currently in issue.
Highlights of Calidus' announcement:
Significant gold intercepts grading greater than 10 gram-metres
include:
-- 6m @ 63.31g/t Au (incl 2m @ 182.57g/t) from 49m in hole 17KLRC032
-- 12m @ 3.73g/t Au (incl 1m @ 26.98g/t) from 40m in hole 17KLRC038
-- 9m @ 4.56g/t Au (incl 1m @ 30.67g/t) from 3m in hole 17KLRC031
-- 33m @ 1.09g/t Au from 23m in hole 17KLRC034
-- 14m @ 2.06g/t Au (incl 1m @ 12.24g/t) from 104m in hole 17KLRC023
-- 25m @ 1.03g/t Au from 46m in hole 17KLRC039
-- 24m @ 1.06 g/t Au from 23m in hole 17KLRC027
-- 17m @ 1.43g/t Au from 80m in hole 17KLRC018
-- 5m @ 4.81g/t Au (incl 1m @21.61g/t) from 85m in hole 17KLRC039
-- 13m @ 1.66g/t Au from 30m in hole 17KLRC026
-- 11m @ 1.82g/t Au from surface in hole 17KLRC025
-- 9m @ 2.02g/t Au from 8m in hole 17KLRC035
-- 5m @ 3.63g/t Au from 7m in hole 17KLRC038
-- 4m @ 4.29g/t Au from 102m in hole 17KLRC024
-- 12m @ 1.41g/t Au from 113m in hole 17KLRC020
-- 6m @ 2.60g/t Au (incl 1m @ 10.44g/t) from 34m in hole 17KLRC025
-- 9m @ 1.69g/t Au from 15m in hole 17KLRC031
-- 10m @ 1.45g/t Au from 75m in hole 17KLRC021
-- 8m @ 1.64 g/t Au from 2m in hole 17KLRC027
-- 11m @ 1.18g/t Au from surface in hole 17KLRC033
-- 11m @ 1.14g/t Au from 28m in hole 17KLRC040
-- 9m @ 1.36g/t Au from 122m in hole 17KLRC023
-- 5m @ 2.27g/t Au from 34m in hole 17KLRC031
-- 8m @ 1.27g/t Au from 91m in hole 17KLRC024
This represents a further 23 RC drill holes for 2,216m of the
current drill program.
Dave Reeves commented, "The consistent intersection of
significant grade gold mineralisation, including very high-grade
gold numbers is a fantastic result, and it supports the known
historic average life of mine grades of 30g/t to 180g/t that were
commonly reported in the area. Calidus' knowledge base on the
controls of the high-grade mineralisation is growing rapidly and
will be used to target these zones in future drill campaigns.
"Due to every hole intersecting significant mineralisation
to-date and on review of the existing resource area, Calidus has
decided to increase the drill program to a total of 12,600m to
maximise both the resource size and category of resource for the
planned resource upgrade later this year. This will include 1,100m
of diamond core for structural work and metallurgical test
work."
To view a full version of the Calidus announcement, which
includes figures and maps, please click here:
http://www.asx.com.au/asxpdf/20170816/pdf/43lfhxmvx0dxm1.pdf.
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014.
**ENDS**
For further information please visit www.kerasplc.com, follow us
on Twitter @kerasplc or contact the following:
Dave Reeves Keras Resources plc dave@kerasplc.com
Nominated Adviser
Gerry Beaney/David Hignell Northland Capital Partners Limited +44 (0) 20 3861 6625
Broker
Damon Heath/Erik Woolgar Shard Capital Partners LLP +44 (0) 20 7186 9952
Tom Curran/Ben Tadd SVS Securities Plc +44 (0) 203 700 0093
Financial PR
Susie Geliher/Charlotte Page St Brides Partners Limited +44 (0) 20 7236 1177
[1] Keras will pay a fee of 3.5% of the 525m shares as
previously announced by Keras on 28 April 2017
This information is provided by RNS
The company news service from the London Stock Exchange
END
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