Keras Resources PLC High-Grade Gold at Calidus' Copenhagen Deposit (0739C)
27 September 2018 - 4:00PM
UK Regulatory
TIDMKRS
RNS Number : 0739C
Keras Resources PLC
27 September 2018
Keras Resources plc / Index: AIM / Epic: KRS / Sector:
Mining
27 September 2018
Keras Resources plc ('Keras' or the 'Company')
Calidus Resources' Copenhagen Deposit Reveals Further High-Grade
Gold Mineralisation
Keras Resources plc, the AIM listed mineral resource company,
notes the update released by Calidus Resources Limited (ASX:CAI)
('Calidus') concerning the Company's recent drilling results from
the Copenhagen Deposit, which forms part of the Company's
Warrawoona Gold Project, located in the Pilbara of Western
Australia. Calidus has announced that the Copenhagen Deposit has
revealed additional shallow, thick high-grade gold mineralisation
which extends a further 100m below the current resource. These
results form part of a resource infill and extension programme
which aims to expand the current resource to underpin a
pre-feasibility study in 2019.
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 the
Pre-Feasibility Study at Warrawoona, an additional 265m performance
shares of Calidus ('Performance Shares') owned by Keras will be
converted into ordinary shares of Calidus.
Highlights
-- Results from a recent 8-hole step-out and infill reverse
circulation, ("RC") drilling programme have intersected high-grade
gold at the Copenhagen deposit which is approximately 10km west of
the Klondyke resource - significant results include:
o 10m @ 12.85g/t Au from 117m (incl 4m @ 29.20g/t Au) n
18CPRC024;
o 5m @ 4.55g/t Au from 160m in 18CPRC029;
o 2m @ 5.77g/t Au from 87m in 18CPRC026;
o 1m @ 6.94g/t Au from 165m in 18CPRC027; and
o 6m @ 3.96g/t Au from 206m in 18CPRC031
-- RC resource drilling recently completed at Coronation with assays awaited
-- RC drilling with two rigs continuing at both Klondyke East and St Georges
-- Diamond core drilling underway beneath current Klondyke pit
targeting an interpreted +1km long high-grade zone
Russell Lamming, Chief Executive Officer of Keras, commented,
"The Calidus team continue to push forward as planned with the
resource expansion at Warrawoona ahead of next year's planned
Pre-Feasibility Study. These latest results from the Copenhagen
Deposit continue to highlight the high-grade mineralisation which
remains open down plunge and the scalability of the Warrawoona
project."
The information in this RNS has been extracted from the ASX
announcement made by Calidus Resources Limited on 28 August
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.
For the purposes of MAR and Article 2 of Commission Implementing
Regulation (EU) 2016/1055, this announcement is being made on
behalf of Russell Lamming, Chief Executive Officer.
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
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