Keras Resources PLC Calidus announces multiple new gold targets (3244X)
23 November 2017 - 6:01PM
UK Regulatory
TIDMKRS
RNS Number : 3244X
Keras Resources PLC
23 November 2017
Keras Resources plc / Index: AIM / Epic: KRS / Sector:
Mining
23 November 2017
Keras Resources plc ('Keras')
Calidus announces multiple new gold targets
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 currently
holds a 217.25m shares, which will increase to 723.75m shares as
and when Calidus meets certain exploration milestones. Calidus has
announced that it has completed an initial review of its recently
expanded land holdings and has generated numerous high priority
gold targets.
HIGHLIGHTS
-- ASTER imagery received, initial review shows main Klondyke
gold bearing structure readily identified via alteration
signature;
-- CSIRO initial structural geology site visit highlighted that
the Klondyke area has high potential to host deposits that extend
at depths significantly greater than the current resource;
-- Hyperspectral and XRF commenced on drill core and chips with
CSIRO mineral vector work planned for 2018. Aimed at supporting
rapid assessment of ground holdings using ASTER imaging signatures
and portable XRF (pXRF) by Calidus staff;
-- Initial review of Novo Resources' area shows numerous targets
including Klondyke East and recently worked mines such as
Trump;
-- Review of potential conglomerate-bearing horizons on Calidus
ground confirms 41km of prospective outcrop; and
-- Initial geological mapping and prospecting confirms presence
of conglomerates and flat gold nuggets (up to 1cm in diameter) at
one location with further work underway.
Appointment of Exploration Manager
-- Experienced Exploration Manager - Mr Brenton Siggs appointed
by Calidus to accelerate review of extensive holdings and priority
shear and conglomerate targets
Dave Reeves commented, "I am very pleased to report on the
on-going regional exploration activities of Calidus. With a growing
resource base at Klondyke, to have such a suite of exciting
regional projects highlights the large potential of this area. With
the assistance of the CSIRO, Calidus are getting a clearer picture
of oreshoot control and methods that will allow them to rapidly and
inexpensively explore the majority of their landholding. This,
combined with extensive conglomerate outcrops, which are readily
accessed from existing roads, provides Calidus with numerous high
ranking targets for the year ahead. With such a large amount of
opportunity, Calidus has recently employed Brenton Siggs, a highly
experienced Exploration Manager, to accelerate regional greenfields
exploration of the wider tenure, whilst the current team continue
to focus on resource expansion around known deposits."
To view a full version of the Calidus announcement, which
includes figures and maps, please click here:
http://www.asx.com.au/asxpdf/20171123/pdf/43phc24rf86w3n.pdf
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014.
Glossary of Technical Terms
ASTER Advanced Space-borne Thermal Emission
and Reflection Radiometer
-------------- --------------------------------------
CSIRO Commonwealth Science and Industrial
Research Organisation
-------------- --------------------------------------
Hyperspectral A spectral imaging process that
collects and processes information
from across the electromagnetic
spectrum in order to identify
objects, materials or processes
-------------- --------------------------------------
XRF X-ray fluorescence, a process
whereby electrons are displaced
from their atomic orbital positions,
releasing a burst of energy that
is characteristic of a specific
element.
-------------- --------------------------------------
**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/Jamie Spotswood 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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