Keras Resources PLC Completion of Drilling at Klondyke Gold Project (4582Q)
November 30 2016 - 2:00AM
UK Regulatory
TIDMKRS
RNS Number : 4582Q
Keras Resources PLC
30 November 2016
Keras Resources plc / Index: AIM / Epic: KRS / Sector:
Mining
30 November 2016
Keras Resources plc ('Keras' or 'the Company')
Visible Gold Identified Following Completion of Drilling at
Klondyke Gold Project
Keras Resources plc, the Australian gold mining company, is
pleased to announce the completion of reverse circulation (RC)
drilling at the Company's 100% owned, owner operated flagship
Klondyke Gold Project, in the prospective Warrawoona Goldfield in
the East Pilbara District of the Pilbara Goldfield of Western
Australia ('Klondyke').
Highlights:
-- Completion of the initial 600m Klondyke drill programme -
results to confirm targets for resource drill programme planned for
early 2017 to extend current JORC compliant mineral resource
estimate of 5.6Mt at 2.08g/t gold ('Au') for 374,000oz;
-- Visible gold identified in one hole;
-- Results from the drilling campaign anticipated within the
next 6 weeks;
-- Significant upside potential - current resource confined to
just 2km of strike of the main 7.5km shear strike identified;
and
-- Regional prospectivity currently being evaluated - Keras has
secured the right to mine contiguous Haoma tenements covering 650
hectares, which have excellent discovery potential highlighted by
high-grade drill results, including 3m at 17.58g/t Au from 20m, 4m
at 59.48g/t Au from 64m and 11m at 7.23g/t Au from 30m.
Keras Managing Director Dave Reeves said,
"Activity at Klondyke is gaining momentum as we target a
comprehensive drilling programme in Q1 2017, which we believe has
the ability to materially extend the current JORC resource, which
covers less than 30% of the known strike. Encountering visible gold
in this initial RC drill programme is exceptional and supports our
confidence in the project's prospectivity, however more definitive
results will be available in the coming weeks which we believe will
confirm the potential of Klondyke, our 100% owned and operated
flagship project."
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 dave@kerasplc.com
Nominated Adviser
Gerry Beaney/David Hignell Northland Capital Partners Limited +44 (0) 20 3861 6625
Broker
Elliot Hance/Jonathon Belliss Beaufort Securities Limited +44 (0) 20 7382 8415
Financial PR
Susie Geliher/Charlotte Page St Brides Partners Limited +44 (0) 20 7236 1177
This information is provided by RNS
The company news service from the London Stock Exchange
END
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