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Calidus Resources Ltd.
Summary
| Project: | Warrawoona | |
|---|---|---|
| Deposit: | Warrawoona | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 12/18/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 18-12-2017: Calidus Resources Ltd. announces a Resource Estimation report for its Warrawoona deposit at the Warrawoona project. JV - Mineral Resource update results incl. 74% increase in ounces. Calidus Resources Limited (ASX:CAI) (‘Calidus’ or the ‘Compa | |
| Resources: | (Resource, I+I): 10.5Mt @ 2.11g/t Au for 712Koz contained at Warrawoona | |
| CP/QP: | [Resources]: Lynn Widenbar (Widenbar and Associates Pty Ltd.) | |
| ABSTRACT: | Calidus Resources Limited (ASX:CAI) (‘Calidus’ or the ‘Company’) is pleased to announce a substantial increase in the Company’s Mineral Resource with a high conversion to Indicated Mineral Resources at the Warrawoona Gold Project located in the Pilbara of Western Australia. Calidus Managing Director Dave Reeves commented, “To increase our high-grade resource base by 74% within 6 months of listing by targeted drilling underpins the unique attributes of the Warrawoona Project. The outcropping gold mineralisation allows rapid and cost-effective ounces to be added to this rapidly developing project. We intend to keep this momentum going in the new year with extensional drilling of the resource, both down dip and along strike planned. In addition, we plan on converting some of the large number of satellite targets to resource status in the coming year. Our planning for this is well supported by our current cash position that allows a continuation of the aggressive programme we have pursued to date.” Calidus listed on the ASX on 22 June 2017 and has delivered on its commitment to undertake an aggressive exploration programme on the Warrawoona Gold Project (the Project). On 20 September 2017, the Company announced a joint venture with Novo Resources Corp. (TSX.V:NVO) (Novo), which has expanded Calidus’ exploration footprint to 363km2 covering the entirety of the Warrawoona Greenstone Belt. | |
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