Keras Resources PLC High-Grade Coronation Results & Klondyke Extension (9074R)
20 June 2018 - 4:00PM
UK Regulatory
TIDMKRS
RNS Number : 9074R
Keras Resources PLC
20 June 2018
Keras Resources plc / Index: AIM / Epic: KRS / Sector:
Mining
20 June 2018
Keras Resources plc ('Keras' or the 'Company')
Calidus Confirms High-Grade Coronation Results and Klondyke
Depth Extension
Keras 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.
Keras 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.
HIGHLIGHTS
-- 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:
o 10m @ 3.84g/t Au (including 1m @ 30.4g/t Au) from 27m in
18CRRC007
o 8m @ 2.22g/t Au from 71m in 18CRR008
-- Rock chips up to 114.7g/t Au recorded on surface at Coronation;
-- Resource drill out programme of Coronation being planned for
this year to add shallow high-grade ounces;
-- Deep diamond drilling extends gold mineralisation at Klondyke
150m down dip of previous drilling to 370m depth with significant
intercept of:
o 2m @ 6.01g/t Au (incl 1m @ 9.39g/t Au) from 421m in hole
18KLDD010
-- Klondyke RC resource drill out progressing well, first results due within 4 weeks.
Russell 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 deliver PFS for a 100,000oz/pa mining project at
Warrawoona.
"The results reported from Coronation are very encouraging and
we look forward to the in-fill drilling to commence here in the
coming months to potentially add shallow high-grade ounces to the
Warrawoona global JORC resource inventory of 712,000 ounces. In
addition, blue sky potential at Klondyke continues to be
demonstrated through these depth extensions, which certainly merit
further evaluation once Calidus' objective of proving up the
shallow open pit potential of Klondyke is realised.
"The coming months look set to be punctuated with significant
high impact news flow as Calidus progresses towards the expected
publication of a PFS over Warrawoona, which will in turn trigger
the conversion of Keras' outstanding 265m Performance Shares."
The information in this RNS has been extracted from the ASX
announcement made by Calidus Resources Limited on 20 June 2018.
To view a full version of the Calidus announcement, which
includes figures and maps, please click here:
https://www.calidus.com.au/investors/asx-announcements/.
For more information on Calidus and Warrawoona, please visit
www.calidus.com.au.
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:
Russell Lamming Keras Resources plc info@kerasplc.com
Nominated Adviser / Joint
Broker
Ewan Leggat / Charlie SP Angel Corporate Finance +44 (0) 20 3470
Bouverat LLP 0470
Financial PR
Susie Geliher / Charlotte +44 (0) 20 7236
Page St Brides Partners Ltd 1177
Notes
Keras Resources plc is focused on building a strategic portfolio
of resource assets. The Company provides investors with exposure to
a strategic portfolio of development assets, including manganese,
cobalt and nickel in Togo, West Africa, and also has a significant
interest in a highly prospective gold exploration and development
portfolio in Australia.
Keras benefits from a highly skilled management team, which has
extensive operational experience in Africa and Australia with
proven success in advancing assets up the value curve.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
MSCEASKNFDAPEFF
(END) Dow Jones Newswires
June 20, 2018 02:00 ET (06:00 GMT)
Keras Resources (LSE:KRS)
Historical Stock Chart
From Apr 2024 to May 2024
Keras Resources (LSE:KRS)
Historical Stock Chart
From May 2023 to May 2024