Keras Resources PLC Calidus Gold Anomalies,Warrawoona Project (6773X)
August 14 2018 - 2:00AM
UK Regulatory
TIDMKRS
RNS Number : 6773X
Keras Resources PLC
14 August 2018
Keras Resources plc / Index: AIM / Epic: KRS / Sector:
Mining
14 August 2018
Keras Resources plc ('Keras' or the 'Company')
Calidus Identifies Significant Gold Anomalies Across Warrawoona
Project
Keras Resources plc, the AIM listed mineral resource company, is
pleased to confirm that Calidus Resources Limited ('Calidus'), has
identified a number of significant gold-in-soil anomalies across
its Warrawoona Gold Project as part of its 2018 soil sampling
programme, located in the Pilbara of Western Australia
('Warrawoona'). Calidus is continuing a large resource infill and
extension programme across Warrawoona to expand the current JORC
compliant resource of 712,000 ounces at a grade of 2.11g/t and to
underpin a planned Pre-Feasibility Study ('PFS') in 2019.
Keras is a significant shareholder of Calidus, with a current
interest of 458m shares, representing approximately 35% of Calidus'
total issued share capital. On successful completion of the PFS at
Warrawoona, an additional 265m performance shares of Calidus
('Performance Shares') owned by Keras will be converted into
ordinary shares of Calidus.
HIGHLIGHTS
-- Significant gold-in-soil anomalies discovered on Calidus's
Warrawoona Gold Project adding scale potential to the project
-- No major exploration activity over the past 30 years,
application of modern exploration techniques presents a significant
opportunity
-- Many identified mineral occurrences not drilled and most
targets remain open down dip and along strike
-- Historic shallow exploration in the 1990s on the northern end
of the Liberator prospect discovered thick anomalous gold grades
(40m @ 0.4 g/t Au in CERC7)
-- RC drilling programme planned to evaluate the most significant anomaly at Liberator
Russell Lamming, Chief Executive Officer of Keras, commented,
"The identification of new gold-in-soil anomalies gives further
credence to the potential to materially increase the size and scale
of Warrawoona's current JORC compliant resource of 712,000oz.
"The Liberator prospect, located approximately 15km to the west
of the established Klondyke resource area, represents a significant
strike extent of prospective stratigraphy and highlights the upside
potential of the wider Warrawoona Project area, which has largely
focussed on the Klondyke, Copenhagen and Fieldings Gully prospects
thus far. When read in tandem with the seven new prospects now
being assessed as part of this on-going soil geochemical review, we
remain extremely positive about the ability of Warrawoona to host a
significant gold production operation mining from multiple
deposits."
The information in this RNS has been extracted from the ASX
announcement made by Calidus Resources Limited on 14 August
2018.
To view a full version of the Calidus announcement, which
includes figures and maps, please click here:
https://www.calidus.com.au/investors/asx-announcements/.
For more information on Calidus and Warrawoona, please visit
www.calidus.com.au.
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:
Russell Lamming Keras Resources plc info@kerasplc.com
Nominated Adviser / Joint
Broker
Ewan Leggat / Charlie SP Angel Corporate Finance +44 (0) 20 3470
Bouverat LLP 0470
Financial PR
Susie Geliher / Charlotte +44 (0) 20 7236
Page St Brides Partners Ltd 1177
Notes
Keras Resources plc is focused on building a strategic portfolio
of resource assets. The Company provides investors with exposure to
a strategic portfolio of development assets, including manganese,
cobalt and nickel in Togo, West Africa, and also has a significant
interest in a highly prospective gold exploration and development
portfolio in Australia.
Keras benefits from a highly skilled management team, which has
extensive operational experience in Africa and Australia with
proven success in advancing assets up the value curve.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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