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Calidus Resources Ltd.
Summary
| Project: | Warrawoona | |
|---|---|---|
| Deposit: | Klondyke | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 10/2/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 2-10-2019: Calidus Resources Ltd. announces an Exploration/Drilling Update report for its Klondyke deposit at the Warrawoona project. Drilling results incl. 14m @ 3.80g/t Au from 1m. Calidus Resources Limited (ASX:CAI) is pleased to announce a host of out | |
| Resources: | (Resource, Total): 1,248,000ozs at 1.83g/t Au at Warrawoona | |
| CP/QP: | [Overall Report]: Jane Allen (Internal) | |
| ABSTRACT: | Calidus Resources Limited (ASX:CAI) is pleased to announce a host of outstanding results from the resource conversion drilling program at its Warrawoona gold project in WA’s Pilbara Region. The latest results, which will be used to establish a Measured Resource, are important because they demonstrate that the mineralisation in the planned open pit at Klondyke is wide and continuous. This highlights the technical and economic strength of the planned open pit and is consistent with Calidus’ strategy to de-risk the 1.25Moz Resource at Warrawoona, where the Definitive Feasibility Study is underway. Calidus Managing Director Dave Reeves said: “These results show just how outstanding Warrawoona is, with high grade wide intersections in the area targeted for initial open pit mining. “The outcropping nature of the orebody, high grades and substantial continuous widths of mineralisation will provide significant technical and financial advantages to the project. “The drilling for the Measured Resource is now complete and the RC rig has moved on to drilling areas east of the current pit design as part of our plan to continue growing the mine life inventory. “Drilling will then progress to Klondyke West, approximately 3km west of the current Resource, to commence more detailed exploration of this large gold system.” The diamond rig has completed 7 holes to date with logging of the core ongoing and initial holes dispatched for assay. “We look forward to releasing a steady stream of results over the remainder of this year as we continue to de-risk the Warrawoona Gold Project and expand mine life,” Mr Reeves said. | |
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