Calidus announces high grade intercepts

RNS Number : 9518X

Keras Resources PLC

30 November 2017

 

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

30 November 2017

Keras Resources plc ('Keras')

Calidus announces high grade intercepts

Keras Resources plc, the AIM listed mineral resource company, is pleased to provide an update following an announcement published by Calidus Resources Limited ('Calidus'). Calidus has announced significant diamond drilling results from Klondyke, Copenhagen, Coronation and Fieldings Gully that confirm the presence of high-grade gold at all of Calidus' prospects located in the Pilbara of Western Australia, with Calidus to commence an accelerated drilling programme imminently. In addition, a tenement application located contiguous to the current Novo Resources Corp (Novo) JV tenements has been added to the JV arrangement.

HIGHLIGHTS

•           Visible gold observed during geological logging confirmed by high-grade assays in all three core holes drilled at Klondyke;

•           Wide high-grade mineralisation confirmed in core drilling at the Copenhagen, Coronation and Fieldings Gully satellite deposits, all within 10km of Klondyke;

•           Significant intercepts include:

o  Klondyke           17KLDD001: 25m @ 3.41g/t Au from 88m

o  Copenhagen      17CPDD001: 6m @ 7.74g/t Au from 70m

                              17CPDD002: 4m @ 7.46g/t Au from 56m

o  Coronation         17CRDD001: 10m @ 3.31g/t Au from 108m

o  Fieldings Gully   17FGDD001: 10m @ 9.68g/t Au from 85m

•           Preparations for extensional drilling at Klondyke East, Fieldings Gully and Copenhagen commenced, aim to complete by end of year; and

•           Further tenement application with extensive soil anomaly added to the Novo JV.

Dave Reeves commented, "Calidus has successfully intersected multiple high-grade gold intercepts at all of their satellite deposits drilled to date, in addition to a wide high-grade zone in the middle of the Klondyke resource. This ongoing regional exploration in proximity to Klondyke continues to reveal encouraging results which provide further support for the potential for significant new discoveries and additional resource ounces at Klondyke and within the existing tenement portfolio. In light of these excellent results, Calidus has expanded the previously announced Klondyke East drilling to target extensions of the recently drilled Fieldings Gully and Copenhagen deposits with drilling due to commence at the end of this week.

With drilling due to commence again imminently and the resource upgrade on track for delivery this year, Calidus continues to aggressively define this large, shear hosted gold project which they believe will support a stand-alone gold development in the future."

To view a full version of the Calidus announcement, which includes figures and maps, please click here: 

http://www.asx.com.au/asxpdf/20171130/pdf/43pr345nty57zr.pdf

Keras currently holds a 217.25m shares in Calidus, which will increase to 723.75m shares as and when Calidus meets certain exploration milestones.  It is the intention of Keras to in-specie distribute these shares to Keras shareholders at the appropriate time when this is achieved.

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/Jamie Spotswood	Northland Capital Partners Limited	[phone]
Broker
Damon Heath/Erik Woolgar	Shard Capital Partners LLP	[phone]
Tom Curran/Ben Tadd	SVS Securities Plc	[phone]

 

END

 

 

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