Keras Resources PLC Calidus Reports High-Grade Extensions at Klondyke (5533J)
06 December 2018 - 6:00PM
UK Regulatory
TIDMKRS
RNS Number : 5533J
Keras Resources PLC
06 December 2018
Keras Resources plc / Index: AIM / Epic: KRS / Sector:
Mining
6 December 2018
Keras Resources plc ('Keras' or the 'Company')
Calidus Resources Reports High Grade Depth Extensions at
Klondyke
Keras Resources plc, the AIM listed mineral resource company,
notes the announcement released by Calidus Resources Limited
(ASX:CAI) ('Calidus'), regarding initial high-grade drilling
results from underneath the current Klondyke Mineral Resource at
its Warrawoona Gold Project in the Pilbara in Western Australia.
The results demonstrate high-grade depth extensions to the
currently defined JORC resource of 654,000oz at a grade of 2.06g/t
Au at Klondyke. In addition, all results have been received from
drilling at St George Shear, located 150m immediately north of and
parallel to the Klondyke Main Shear. The results from both the
'Klondyke Deeps' prospect and St George Shear prospect will be
included in an updated JORC Resource Estimate for the entire
Warrawoona Gold Project in Q1 2019.
Keras currently has 458m shares in Calidus, representing
approximately 32.3% of the current issued share capital of Calidus.
On successful completion of the aforementioned PFS, an additional
265m performance shares of Calidus ('Performance Shares') owned by
Keras will be converted into ordinary shares of Calidus.
HIGHLIGHTS
Assays received from 14 holes of a 22 hole diamond drilling
programme testing underneath the 2017 Klondyke 654,000 oz Mineral
Resource have returned:
-- 12.65m @ 3.25g/t Au (incl 1m @ 14.27 g/t) from 253.3m in 18KLDD022;
-- 6.97m @ 4.33g/t Au (incl 1m @ 12.24g/t) from 223.85m in 18KLDD015;
-- 6.50m @ 3.43g/t Au (incl 0.73m @ 14.48g/t) from 207.8m in 18KLDD014;
-- 6.55m @ 3.42g/t Au (incl 1m @ 7.0g/t) from 221.65m in 18KLDD019;
-- 1.78m @ 11.82g/t Au (incl 0.5m @ 33.64g/t) from 248.22m in 18KLDD024;
-- 1m @ 17.59g/t Au from 217m in 18KLDD028;
-- 1m @ 12.04g/t Au from 246m in 18KLDD029;
-- 0.5m @ 29.29g/t Au from 220.8m in 18KLDD015;
-- 2.4m @ 5.19g/t Au from 241m to EOH in 18KLDD021;
-- 1.3m @ 8.19g/t Au from 300m in 18KLDD032;
-- 0.5m @ 15.14g/t Au from 196m in 18KLDD014;
-- 1m @ 7.79g/t Au from 196m in 18KLDD012;
-- 0.7m @ 8.43g/t Au from 188.5m in 18KLDD028.
Assay results received from St George include:
-- 9m @ 3.41g/t Au (incl 1m@ 14.51g/t) from 73m in 18SGRC026
-- 11m @ 2.25g/t Au from 3m in 18SGRC035
-- 4m @ 3.37g/t Au (incl 1m@11.12g/t) from 1m in 18SGRC039
-- 2m @ 5.53g/t Au from 45m in 18SGRC027
-- 4m @ 2.15g/t Au from 32m in 18SGRC034
-- 1m @ 7.05g/t Au from 42m in 18SGRC061
-- 3m @ 3.98g/t Au from 63m in 18SGRC062
Russell Lamming, Chief Executive Officer of Keras, commented,
"All indications from this drill programme, and previous programmes
conducted at the wider Warrawoona Project over the past two years,
point to this asset hosting a large and high-grade gold mineralised
system. Calidus has already proved-up a significant Resource of
+700,000oz gold at Warrawoona, however we are confident that this
has potential for substantial upside and we look forward to the
publication of a Resource upgrade, due in Q1 2019, as we look to
better define and translate the tangible value of this exciting
gold asset for Keras investors."
The information in this RNS has been extracted from the ASX
announcement made by Calidus Resources Limited on 6 December 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:
Chief Executive Officer Keras Resources plc info@kerasplc.com
Russell Lamming
Nominated Adviser / Joint
Broker
Ewan Leggat / Charlie SP Angel Corporate Finance +44 (0) 20 3470
Bouverat LLP 0470
Financial PR
Susie Geliher / Cosima +44 (0) 20 7236
Akerman 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
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Authority to act as a Primary Information Provider in the United
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of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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