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 |
[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.
