Keras Resources PLC Tenement Applications in Warrawoona Gold District (1910U)
16 January 2017 - 6:00PM
UK Regulatory
TIDMKRS
RNS Number : 1910U
Keras Resources PLC
16 January 2017
Keras Resources plc / Index: AIM / Epic: KRS / Sector:
Mining
16 January 2017
Keras Resources plc ('Keras' or 'the Company')
Exploration Tenement Applications Increase Keras' Presence in
Warrawoona District
Keras Resources plc, the Australian gold mining company, is
pleased to announce the expansion of its footprint in the
Warrawoona Goldfield District, through the application for two
tenements covering an area of 170km(2) on prospective greenstone
terranes that flank major granitic intrusions, which are
significant to regional gold mineralisation. The Warrawoona
Goldfield District is in the East Pilbara Gold Belt of the Pilbara
Goldfield of Western Australia, where the Company's 100% owned,
flagship Klondyke Gold Project ('Klondyke') is located.
Details
-- Applications for two tenements have been lodged covering an area of approximately 170km(2)
-- The tenure hosts a multitude of historic gold occurrences and artisanal mining operations
-- The applications have passed the public objection phase and
are now awaiting heritage clearance
-- Tenements will further strengthen Keras' established land
holding within the region, including the flagship Klondyke project,
which has a current resource estimate of 5.6Mt at 2.08g/t Au for
374,000oz with significant further upside potential indicated from
our initial drill campaign
-- Existing Klondyke mining tenements have all been renewed until 2035
-- The applications are part of our defined development strategy
to consolidate our presence within the region and provide a large
asset base for future development centred on Klondyke
Keras Managing Director Dave Reeves said,
"Having successfully acquired and consolidated Klondyke in
September 2016, we have embarked on a strategy of strengthening our
presence in this gold-rich region, with the application for these
tenements marking the first step in a further consolidation of the
greater region. We continue to investigate other low-cost
opportunities to increase our tenure in the area with the defined
aim of providing a significant resource base to underpin the
development of a substantial gold mine."
Further Details
Keras will update the market when the tenements are granted and
then embark on maiden gold exploration work shortly thereafter. The
pegging of this ground is Keras' first step in its strategy to
consolidate the region and provide a large asset base for future
development centred on Klondyke.
To view a map of the new tenement additions, illustrating Keras'
growing presence in the East Pilbara Gold Belt, click here
http://www.rns-pdf.londonstockexchange.com/rns/1910U_-2017-1-15.pdf
**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
Elliot Hance/Jonathon Belliss Beaufort Securities Limited +44 (0) 20 7382 8415
Financial PR
Susie Geliher/Charlotte Page St Brides Partners Limited +44 (0) 20 7236 1177
Notes
Keras Resources plc is AIM's only Australian gold mining
company. Keras has a portfolio of owner-operated gold interests and
cash generative joint venture gold projects. The Company's strategy
is focussed on advancing its owner-operator gold interests towards
production whilst concurrently identifying and assessing low risk,
high margin joint venture operations to enable continuing cash
flows. The Company benefits from an experienced management team,
which has extensive gold experience and is based in Perth, reducing
execution risk.
Gold Projects
Klondyke Project Area - 100% owned gold development project in
Western Australia
-- Current resource of 5.6Mt at 2.08g/t gold ('Au') for
374,000oz confined to just 2km of the main 7.5km shear strike
-- Right to mine contiguous Haoma tenements covering 650
hectares with excellent discovery potential
-- Active growth strategy - continue to assess additional
opportunities in the project area to add contiguous lease areas to
the critical mass that has been consolidated
Tribute Gold Projects
Keras has a portfolio of tribute mining agreements in the
Kalgoorlie Goldfield, Australia and is targeting 20,000-30,000oz
gold per annum from these assets.
Wider Portfolio
Keras is currently awaiting a mining permit for its Nayega
Manganese Project in Togo. Once received it will look to develop
the asset into a low-cost export mining operation.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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January 16, 2017 02:00 ET (07:00 GMT)