Calidus Maiden Drill Results, Warrawoona Project

RNS Number : 8112K

Keras Resources PLC

12 July 2017

 

Keras Resources plc / Index: AIM / Epic: KRS / Sector: Mining

12 July 2017

Keras Resources plc ('Keras')

High Grade Gold Intercepts from Maiden Drill Programme at Warrawoona Project

Keras Resources plc, the AIM listed mineral resource company, is pleased to provide an exploration update published by Calidus Resources Limited ('Calidus'), in which Keras holds a 31% interest.  Calidus has reported that high-grade gold mineralisation across significant widths has been intercepted as part of the maiden exploration drill programme being conducted at its 100% owned Warrawoona Gold Project, located in the Pilbara region of Western Australia.

Highlights of Calidus' announcement:

·      Significant gold intercepts grading greater than 10 gram metres include:

o  27m @ 5.85g/t Au from 91m in hole 17KLRC001 (incl. 1m @ 39.14g/t Au)

o  6m @ 4.75g/t Au from 11m in hole 17KLRC002

o  21m @ 1.28g/t Au from 23m in hole 17KLRC002

o  8m @ 3.58g/t Au from 49m in hole 17KLRC002

o  17m @ 1.03g/t Au from 117m in hole 17KLRC003

o  5m @ 3.12 g/t Au from 155m in hole 17KLRC003

o  7m @ 1.58g/t Au from 53m in hole 17KLRC004

o  9m @ 1.21g/t Au from 113m in hole in hole 17KLRC006

·      Six RC drill holes received to date representing 826m

·      Part of a larger 10,000m programme

Calidus Managing Director (and Keras Director) Dave Reeves commented, "These initial drilling results reinforce our belief that Warrawoona has the potential to become one of Australia's next gold development projects. Initial drilling focused on the 'gap' zone, with an aim to link the two historical JORC resource areas. This programme has been facilitated by our recent consolidation of the tenements that cover the main Klondyke Shear.

"This is the first time in the history of the Belt that modern day exploration techniques have been applied by one owner across the entire tenement package. These results cover over half the strike of this gap area and with multiple intersections in every hole drilled, we are confident that this will allow for the resource to be defined over 3km in strike at the completion of this programme.

"Importantly, the deposit remains open along strike and down dip and when combined with the known satellite deposits provides significant potential upside for the project."

To view a full version of the Calidus announcement, which includes figures and maps, please click here: http://www.asx.com.au/asxpdf/20170712/pdf/43kl5yqbk1rvlh.pdf.

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:

Dave Reeves	Keras Resources plc	[e-mail]
Nominated Adviser
Gerry Beaney/David Hignell	Northland Capital Partners Limited	[phone]
Broker
Elliot Hance/Jonathon Belliss Damon Heath/Erik Woolgar	Beaufort Securities Limited Shard Capital Partners LLP	[phone] [phone]
Tom Curran/Ben Tadd	SVS Securities Plc	[phone]
Financial PR
Susie Geliher/Charlotte Page	St Brides Partners Limited	[phone]

 

END

 

 

MSCDMGMNKZGGNZG