Keras Resources plc / Index: AIM / Epic: KRS / Sector: Mining
14 August 2018
Keras Resources plc ('Keras' or the 'Company')
Calidus Identifies Significant Gold Anomalies Across Warrawoona Project
Keras Resources plc, the AIM listed mineral resource company, is pleased to confirm that Calidus Resources Limited ('Calidus'), has identified a number of significant gold-in-soil anomalies across its Warrawoona Gold Project as part of its 2018 soil sampling programme, located in the Pilbara of Western Australia ('Warrawoona'). Calidus is continuing a large resource infill and extension programme across Warrawoona to expand the current JORC compliant resource of 712,000 ounces at a grade of 2.11g/t and to underpin a planned Pre-Feasibility Study ('PFS') 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 PFS at Warrawoona, an additional 265m performance shares of Calidus ('Performance Shares') owned by Keras will be converted into ordinary shares of Calidus.
HIGHLIGHTS
· Significant gold-in-soil anomalies discovered on Calidus's Warrawoona Gold Project adding scale potential to the project
· No major exploration activity over the past 30 years, application of modern exploration techniques presents a significant opportunity
· Many identified mineral occurrences not drilled and most targets remain open down dip and along strike
· Historic shallow exploration in the 1990s on the northern end of the Liberator prospect discovered thick anomalous gold grades (40m @ 0.4 g/t Au in CERC7)
· RC drilling programme planned to evaluate the most significant anomaly at Liberator
Russell Lamming, Chief Executive Officer of Keras, commented, "The identification of new gold-in-soil anomalies gives further credence to the potential to materially increase the size and scale of Warrawoona's current JORC compliant resource of 712,000oz.
"The Liberator prospect, located approximately 15km to the west of the established Klondyke resource area, represents a significant strike extent of prospective stratigraphy and highlights the upside potential of the wider Warrawoona Project area, which has largely focussed on the Klondyke, Copenhagen and Fieldings Gully prospects thus far. When read in tandem with the seven new prospects now being assessed as part of this on-going soil geochemical review, we remain extremely positive about the ability of Warrawoona to host a significant gold production operation mining from multiple deposits."
The information in this RNS has been extracted from the ASX announcement made by Calidus Resources Limited on 14 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.
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 |
[email protected] |
Nominated Adviser / Joint Broker Ewan Leggat / Charlie Bouverat |
SP Angel Corporate Finance LLP |
+44 (0) 20 3470 0470 |
Financial PR Susie Geliher / Charlotte Page |
St Brides Partners Ltd |
+44 (0) 20 7236 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.
