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Calidus Resources Ltd.
Summary
| Project: | Warrawoona | |
|---|---|---|
| Deposit: | Klondyke, St George | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 12/6/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 6-12-2018: Calidus Resources Ltd. announces an Exploration/Drilling Update report for its Klondyke, St George deposit at the Warrawoona project. Drilling results incl. 12.65m @ 3.25g/t Au from 253.3m. Calidus Resources Limited (ASX: CAI) (‘Calidus’ or the | |
| Resources: | (Resource, I+I): 10.5Mt @ 2.11g/t Au for 712Koz contained at Warrawoona | |
| CP/QP: | [Overall Report]: Jane Allen (Internal) | |
| ABSTRACT: | Calidus Resources Limited (ASX: CAI) (‘Calidus’ or the ‘Company’) is pleased to announce that initial high-grade drilling results from underneath the current Klondyke Mineral Resource show high grade depth extensions to the currently defined resource. In addition, all results have now been received for the St George Shear drilling. Assay results from 14 holes of a 22-hole core-drilling programme testing a continuous high-grade mineralised structure below the Klondyke resource have been received. These new results open up a significant untested area both along strike and at depth to be targeted by further drilling. Gold mineralisation at the Klondyke Deeps Prospect is hosted within the Klondyke Shear Zone (KSZ), a sub-vertical shear zone developed in Archaean Warrawoona Group mafic and ultramafic rocks and localised between the Mt Edgar Granite batholith to the north and the Corunna Downs Granite to the south. In the KSZ there appears to be two gold mineralising events with an earlier phase occurring as a broader lower-grade halo associated with fine-grained disseminated pyrite in strongly sericite-altered mafic rocks that hosts the current 654,000 oz resource. A later coarse-grained high-grade phase, likely remobilisation of the first event, is often observed as visible gold lying within late fractures in quartz veins immediately adjacent to and either side of a 0.10 – 0.5m wide black shale/green chert unit, termed the Kopcke’s Leader by historic miners. The Kopcke’s Leader marker horizon has been mapped in detail by W.A. Government geologists in 1938 as far as 5km to the immediate west of the current Klondyke resource. | |
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