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Calidus Resources Ltd.
Summary
| Project: | Warrawoona | |
|---|---|---|
| Deposit: | Klondyke East | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 10/17/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 17-10-2017: Calidus Resources Ltd. announces an Exploration/Drilling Update report for its Klondyke East deposit at the Warrawoona project. JV with Novo Resources Corp. - Drilling results incl. 24m @ 2.52g/t Au from 82m. Calidus Resources Limited (ASX:CAI | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Jane Allen (Internal) | |
| ABSTRACT: | Calidus Resources Limited (ASX:CAI) (‘Calidus’ or the ‘Company’) is pleased to announce that it has received further assays from the Klondyke deposit, and committed to initial reconnaissance drilling at Klondyke East at its flagship Warrawoona Gold Project located in the Pilbara of Western Australia. Calidus Managing Director Dave Reeves commented, “With the completion of the recent JV deal with Novo Resources and the heavily over‐subscribed placement, I am pleased to report that we will begin reconnaissance drilling on the recently joint ventured Novo Resources Corp. ground immediately east of the existing resource. This area has seen limited drilling that confirms the mineralised Klondyke shear structure persists for at least another 5km and provides an exceptional target for potential rapid along‐strike expansion of the current resource. In addition, we are due to receive detailed geophysical imagery that will be integrated into our existing datasets and allow us to understand the geophysical responses of our existing mineral deposits and use these indicators of prospectivity across our regional leases to rapidly target the presence of mineralising systems.” “The initial drill program, that was eventually expanded to 15,611m, is now complete and continues to deliver strong results over the immediate Klondyke resource area. This program also included 2,222m of RC and core drilling at the high‐grade Copenhagen Coronation and Fieldings Gully deposits with initial results from these areas due in shortly. In addition, the first 2 Klondyke diamond holes have been dispatched for assay with the completion of submission of the remaining 5 diamond holes due in the next 4 weeks | |
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