Keras Resources PLC Calidus reports 2.6km of continuous mineralisation (9401P)
06 September 2017 - 4:00PM
UK Regulatory
TIDMKRS
RNS Number : 9401P
Keras Resources PLC
06 September 2017
Keras Resources plc / Index: AIM / Epic: KRS / Sector:
Mining
6 September 2017
Keras Resources plc ('Keras')
Calidus Reports mineralisation defined over 2.6km continuous
strike
Keras Resources plc, the AIM listed mineral resource company, is
pleased to provide an update following an announcement published by
Calidus Resources Limited ('Calidus'), in which Keras holds a 30%
interest. Calidus has announced it has now received all assays for
the 'Gap" Zone at its flagship Warrawoona Gold Project located in
the Pilbara of Western Australia and the results confirm that
continuous mineralisation and width now extends for 2.6km of strike
and is open at depth and along strike in both directions.
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, which will increase Keras' holding to 50% of
Calidus' total issued share capital based on the number of shares
currently in issue.
Summary of Calidus' announcement:
Significant gold intercepts grading greater than 10 gram-metres
include:
-- 17m @ 2.54g/t Au (incl 1m @ 10.32g/t) from 212m in hole 17KLRC057
-- 23m @ 1.65g/t Au from 77m in hole 17KLRC041
-- 8m @ 4.68g/t Au (incl 2m @ 10.73g/t) from 94m in hole 17KLRC054
-- 14m @ 2.06g/t Au from 30m in hole 17KLRC044
-- 6m @ 4.30g/t Au (incl 1m @ 13.24g/t) from 149m in hole 17KLRC045
-- 15m @ 1.70g/t Au from 138m in hole 17KLRC048
-- 9m @ 2.67 g/t Au (incl 1m @10.18g/t) from 47m in hole 17KLRC044
-- 7m @ 2.77g/t Au from 159m in hole 17KLRC046
-- 9m @ 2.15g/t Au from 137m in hole 17KLRC052
-- 4m @ 4.54g/t Au from 77m in hole 17KLRC055
-- 7m @ 2.51g/t Au from 163m in hole 17KLRC049
-- 10m @ 1.74g/t Au from 150m in hole 17KLRC047
-- 5m @ 3.07g/t Au (incl 1m @ 10.19g/t) from 158m in hole 17KLRC045
-- 5m @ 2.55g/t Au from 65m in hole 17KLRC042
-- 12m @ 1.41g/t Au from 113m in hole 17KLRC020
-- 8m @ 1.54g/t Au from 112m in hole 17KLRC053
-- 8m @ 1.47g/t Au from 13m in hole 17KLRC043
-- 3m @ 4.03g/t Au from 148m in hole 17KLRC051
-- 7m @ 1.56 g/t Au from 124m in hole 17KLRC045
-- 5m @ 2.10g/t Au from 76m in hole 17KLRC054
-- 8m @ 1.30g/t Au from 177m in hole 17KLRC057
This represents a further 17 RC drill holes for 2,784m of the
current drill program.
Dave Reeves commented, "These results include the final holes in
the 'Gap' Zone and some extensional and infill holes in the Eastern
Resource. The most significant result of this drilling is that
Calidus can now confirm 2.6km of continuous mineralisation that is
open at depth and along strike in both directions. This is a very
significant milestone in Calidus' short history as it underlines
the large near surface potential that exists at Warrawoona which
Calidus plans to expand on with on-going systematic
exploration.
The drill rig has now moved to the Western Resource where it
continues to drill in-fill and extensional holes and it is
anticipated to move to the high-grade satellite deposits in the
near future. I look forward to reporting the next batch of results
when they are available."
To view a full version of the Calidus announcement, which
includes figures and maps, please click here:
https://www.investi.com.au/api/announcements/cai/8da5b91c-2c0.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
This information is provided by RNS
The company news service from the London Stock Exchange
END
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